The first cable car in Île-de-France will not only change everyday journeys. It could also shake up the real estate market. A real estate agent reveals to us when prices will rise and in what proportions.
December 13 will mark a small revolution in Ile-de-France transport: the Cable 1 cable car, the first of its kind in Île-de-France, will soon connect Créteil to Villeneuve-Saint-Georges via Limeil-Brévannes. A novelty which should not only improve the mobility of residents: according to professionals in the sector, it could also redraw the map of real estate prices. Because a few days before the inauguration, a question is already agitating owners and tenants: will this new service cause rents to soar and boost the value of properties for resale? We asked the question to Jean-Pierre Hadjadj, manager of the Arthu Immo agency in Limeil-Brévannes, who gives us his forecasts on the evolution of prices and the right time to act before it is too late…
On the owner’s side, the sale of a T3 type apartment (comprising two bedrooms and a balcony) will of course increase in value. “Following the announcement of the opening of the cable car, we observe a price increase of 7.50% on this type of property” explains Jean-Pierre. In fact, the sales prices oscillated between 190,000 euros and 200,000 euros before the announcement of this project and reached between 200,000 and 215,000 since the knowledge of this new means of transport in Val-de-Marne.
But according to him, you should not delay if you want to take advantage of this opportunity to enhance your property, knowing that the time for signing the authentic deed at the notary is around three months, the current transactions should be completed around mid-February. “It is better to sell right away rather than waiting until February-March when everyone risks wanting to sell at the same time after the cable car leaves. The supply will then be too high in relation to demand, especially as the rates are still high, and we risk returning to less advantageous rates“, analyzes Jean-Pierre. “The owners risk waiting until after the end of year holidays and the start of the cable car to take the necessary steps, and it will already be too late“, he explains. Conversely, buyers will perhaps have an opportunity to seize an interesting property while waiting for the numerous offers at the start of the year which could potentially be negotiated…
With this new cable car, rentals could also increase in the coming months, particularly during annual revaluations, according to the real estate professional’s estimates. “For the moment, rent prices are not yet capped in Limeil-Brévannes, so there may be an increase of 100 euros for tenants by 2026, if the rental lease mentions an annual review of the rent amount.he tells us.
This phenomenon is not unique to Val-de-Marne: each time a new mode of transport is created, it tends to reduce travel times, open up certain neighborhoods and therefore make them more attractive. Areas long ignored by buyers suddenly take on a new face, conducive to real estate revaluation.
