Nanterre, the rising star of real estate in the Hauts-de-Seine - Le Monde

This former communist bastion, one of the hubs of the west of Greater Paris, is the last area of ​​the 92 that offers prices of less than 5,000 euros per square meter.

By Ludovic Clerima Posted on February 9, 2019 at 6:00 AM

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The cloud towers of architect Emile Aillaud in Nanterre.
The cloud towers of architect Emile Aillaud in Nanterre. François Renault / Photononstop

"Nanterre! If I had to invest in Ile de France, I would position myself there"reveals Michel Platero, the chairman of the National Federation of Brokers in Greater Paris. This is because the city has various assets to tempt investors. Nanterre is one of the four municipalities where the business district La Défense extends. "But the big difference is that in Nanterre the prices of real estate fluctuate between 3500 euros / m² and 6.000 euros / m² in the first.In the three other neighboring cities (La Garenne-Colombes, Puteaux, Courbevoie) the bar of 6,000 euro / m² have long since been exceeded ", he says.

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A special feature because of the city's past. Former communist stronghold, Nanterre traces this heritage in the composition of its housing stock. On 1st In January 2015, 19,296 social housing units were identified by the town hall, representing 52.6% of the total number of main dwellings. The city has also long ago suffered under the reputation of the most sulphurous, which sometimes serves for buyers such as Nadia Yenneck, director of sales for the Nanterre agency at Guy Hoquet. "Some people still think of the slums of Nanterre, but that was more than 60 years ago, buyers come here out of resentment, attracted by low prices, but after a brief tour of the city, they are seduced by the setting».

Real estate residences on a human scale

In 15 years, the Hauts-de-Seine prefecture has been transformed and the building blocks gradually make way for homes on a human scale. "There are two more big towers on the Place de la Boule, but they will disappear in 2019"says Nadia Yenneck. Nanterre also revisits itself during operations such as Reinventing the Metropolis, which allows the Nanterre hospital to be renewed. Almost 17 hectares to restructure on which 4 hectares will be held to make homes.

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Another major project is the expansion of the RER E, whose work has already started. In 2022 this new part of the line will pass the future station of Nanterre-la-Folie. A station that is also connected to line 15 west of the Grand Paris Express by 2030. These infrastructures are added to the three RER stations of the city (Nanterre-Université, Nanterre-Ville and Nanterre-Préfecture) and can increase the prices of real estate. If the prices are capped in the municipality, there is no guarantee that they will be revised upwards when resale by their holders, in search of capital gains.

Overtaking effect on prices

According to data from BestAgents, real estate prices in Nanterre have risen by 33.5% in 10 years. "No neighborhood is spared from increases", warns Nadia Yenneck. "There will be a catch-up effect on prices and once the various transport networks are operational, Nanterre will adapt to the other communes of Hauts-de-Seine", anticipates Michel Platero. The average yield level is now 5.1% in this city with more than 90 000 inhabitants, for small areas that are rented around 21.40 euros / m² on average and could increase even more. in the future.

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Because these values ​​are not yet ready to climb, as the territory radiates through its dynamics. Nanterre is already one of the largest employment hubs in Île-de-France, with more than 96,000 employees, depending on the municipality, while it is a large university city (almost 30,000 students). Vinci, Orange, Safran … are so many big companies that now choose to establish their offices in the city 92 so that their staff wake up to stay. In 15 years, the population in the city has increased by more than 10%. An ascending curve that is not ready to be reversed.


Ludovic Clerima

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