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-8.9% over one year: real estate prices continue to plummet in Lyon

undefined undefined 15 juillet 2024 undefined 10h47

The Editor

The real estate market in Lyon continues its spectacular decline. A significant drop in prices of old apartments has been recorded, as revealed by the latest LPI-iad Barometer from July 2024. With a year-on-year decrease of 8.9%, the capital of the Gaules is experiencing a real chill.

The real estate market in Lyon is on the decline! Last year, the price per square meter of old properties in Lyon fell below the 5,000 euros mark, a first in years. Currently, the average price per square meter is 4,811 euros over one year and 4,678 euros over the last three months, showing a 2.4% decrease for this quarter.

General decrease in all districts of Lyon

The impact of this decrease is being felt uniformly in all Lyon districts. The 4th district, including the Croix Rousse neighborhood, records the most dramatic decrease with a drop of 17.6%. The 1st district is not far behind with a decrease of 12.2%, followed by the Presqu'île (2nd district) with a decrease of 10.8% and the 9th district, including Vaise, Gorge de Loup, and La Duchère, with a decrease of 10.6%.

The least affected districts

However, this decrease in prices is less pronounced in the peripheral and quieter districts of the city. The 5th district, located near the peripheral municipalities, records a decrease of only 1.6%, while the 7th district sees its prices decrease by 4.3%. These areas, often prized for their tranquility and proximity to green spaces, seem to be better resisting the general trend.

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A market in readjustment

This price drop reflects a real estate market in full readjustment. Several factors can explain this trend, including rising interest rates, an uncertain economic context, and weaker demand than in the past. Potential buyers may see this period as an opportunity to acquire properties at more competitive prices, while sellers need to adapt to this new reality.