Real estate prices in Nièvre are more than twice lower than the national average. Even near Nevers, candidates for their first property purchase can find accommodation within their (small) budget.
With an average price per square meter of €1,062 (Source Fnaim January 2024), Nièvre is on the podium of the least expensive departments in France. As a reminder, the national average, excluding the Paris region and Overseas Territories, is €2,469/m2.
As for the change in prices over one year, it faithfully follows the national trend, at -0.1%. More than a generalized decline, it is indeed an overall stabilization that we must speak of.
In Nièvre, the increase recorded over the past five years and therefore including the post-Covid outbreak is a little lower than the national average, +13.5% compared to +17.5%. All this means that first-time buyers have an easier time here than elsewhere in making their project a reality. The range of budgets observed by professionals is logically quite low, between €90,000 and €170,000 in the vast majority of cases.
In Nevers
If it is not the most common, the request from first-time buyers may concern an apartment in the city center. In Nevers, prices are naturally higher than in the rest of the department, but they remain reasonable. For a small apartment, the entry ticket can be below €50,000. This can serve as a basis for a future larger purchase. A T2, in a slightly out-of-the-way area, like Le Banlay-Moulin à vent, for example, can be negotiated around €45,000, for a price per square meter of barely more than €1,100. But in popular neighborhoods like Victor-Hugo or Saint-Genest La Butte, the price can approach €2,000/m2, which serves as a ceiling for the market today. It is not necessarily the easiest location for first-time buyers.
A 1970s pavilion for €170,000
For a detached house, this clientele, often constrained by financing difficulties, will probably be forced to move away a little. Outside of Nevers, it is not uncommon to find pavilions from the 70s around €170,000. On a basement (and therefore without direct access to the garden) or with work to be planned, they may even suffer a greater discount.
A little further, within a radius of 15 km around Nevers, for the same type of budget, first-time buyers will be able to acquire a pretty house of around a hundred square meters, with pleasant grounds.
empty (empty)
They can also opt for a town house, in one of the many rural towns in the area. But there, the DPE may not be very flattering and there will be work to be planned. Beyond the quarter-hour drive to reach their workplace, first-time buyers generally decline.
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The expert’s opinion: Sébastien Fromager, Re/max Platinum Agency
Where are the first-time buyers in the department?
We feel like she’s coming back a little at the moment. In particular, there are new financing opportunities available to them. In 2024, the new zero-rate loan will be put in place. The resource conditions have been broadened and the financeable amounts have increased. This gives purchasing power back to first-time buyers. There is indeed a constraint on the work to be carried out, but it is less restrictive than before.
What is the demand from these first-time buyers?
In general, they are fixed on a small house on the outskirts of Nevers. They’re not too interested in apartments in the city. They often think about the future and therefore, they look at the presence of schools, businesses and the associative fabric of the town where they are going to buy. This is a clientele that has specific criteria and there is real support work to be done with them so that their project fits within their budget.
Do they have an interest in waiting for a real drop in prices and rates?
No, you don’t have to wait if you have a project. Rates have stabilized. As for prices, they will not collapse because the market is healthy and non-speculative in the department. Sellers must adapt to demand in order to sell, but that is already the case.
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