The Property Market in Lyon
In the first half of 2018, the mean price of apartments in Lyon was €3,820/sq.m, a change of +8.3% in the space of one year. This figure is slightly lower than the observed annual change for the first quarter, which stood at +10.5%.
There was a considerable fall of 14% in the volume of sales of apartments in Lyon during the first half of the year, as compared with the same period in 2017.
The 2nd arrondissement remains highly sought-after with prices at €4,940/sq.m, annual growth of +10.4% in the first half of the year and stable volumes as compared with 2017.
On the Left Bank, the 6th
arrondissement is up 9.6%, with prices at €4,860/sq.m. The volume of sales fell by 25%, but nevertheless continues to represent twice that of the Presqu’île. The same popularity can be seen for houses in the City, which on average fetched €2,840/sq.m. Prices have risen by 7.5% in the course of a year, but volumes have dropped 10%. The 5 most expensive neighbourhoods are Montchat, Caluire-et-Cuire, Écully, Croix-Rousse and Sainte-Foy-lès-Lyon, ranging from 4,000 €/sq.m to €4,890/sq.m, just ahead of Saint-Didier-au-Mont-d’Or, Tassin-la-Demi-Lune and Saint-Cyr-au-Mont-d’Or at between €3,800 and €3,960/sq.m.
Source notarial statistics.
BARNES Lyon Key Figures
Over the same period, BARNES observed growth in sales of 34%, exceeding the €50 million mark in transaction value.
Average prices for apartments sold by BARNES increased by 15% in the course of one year, reaching €6,100/sq.m, thus making BARNES the leading brand in luxury properties in Lyon.
Average sale times fell from 71 days in 2017 to 58 days in 2018 with BARNES, proving the vitality of the Lyon high-end property market.
The 2nd half of 2018 is off to a promising start, in view of the number of provisional sale agreements signed by BARNES between July and October 2018 (+25%). On the other hand, certain faint signals suggest a shift in the balance of power between sellers and buyers. The records in 2017 and the tense market in 2018 (with dearth of stocks and soaring prices), raise a question: are we about to swing over to a buyer’s market in 2019?
In the long term, property prices in Lyon should therefore continue to rise steadily. With an increase of 12,500 inhabitants every year, the city should be home to 1.6 million inhabitants by 2030… which means a requirement of 10,000 additional homes per year!