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Friday, January 27, 2023

Marseille: discover the incredible rise in real estate prices

The average price per m2 in Marseille would be 3,678 euros on purchase. (©AS / News Marseille)

For a few years now, the prices of real estate are experiencing a dazzling increase throughout the territory. Demand is constantly growing and housing supply is not keeping up. According to the HelloSafe 2023 real estate barometer, the average price of m2 at Marseilles (Bouches-du-Rhône) would be €3,678 purchase.

A marked increase since last year

Victim of its growing attractiveness, Marseille is taking on more and more value. It has been several years since the price per m2 increased. If in 2021, it was necessary to count on average 3,284 euros per m2 for the purchase of a property, in 2022 the average is 3,678 euros. In other words, the average price of m2 increased by 394 euros, or 10.7%.

Real estate prices are to be qualified according to the districts of the city. For example, the average price per m2 in the 15th arrondissement (the cheapest in Marseille) is 1,702 euros while it is 4,808 euros in the 7th (the most expensive), a difference of 3,106 euros.

As for the evolution of the prices of the m2, here again, it is very unequal depending on the arrondissements. The 11th is the one that gained the most value last year (+18.3%), followed by the 4th (+17.8%) and the 2nd (+11.6%).

Conversely, the one whose real estate price has remained the most stable is the 3rd (+ 2.5%) followed by the 9th (+ 2.8%) then the 8th (+ 5.1%). However, one point is important to note: all boroughs have become more expensive in 2022.

The PACA region is not the most affected by the rise in rents from 2021 to 2022, however, it remains the second most expensive region in France. (©Hellosafe)

Marseille: seventh most expensive city in the region

However, Marseille is far from being the most expensive city in the region. In fact, it comes in seventh place after Hyères (€3,851), Cagnes-sur-Mer (€4,452), Aix-en-Provence (€4,603), Antibes (€4,968), Nice (€5,237) and Cannes (€5,773) .

However, apart from Arles, Marseille is the city whose price per m2 grew the fastest in 2022. If this dynamic continues, it is highly likely to climb in the ranking of the most expensive cities in the Provence-Alpes-Côte d’Azur region.

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