Real estate: in popular Saint-Denis, prices explode around the future Pleyel station

It will be the largest station on the Grand Paris Express. Saint-Denis-Pleyel will regroup in 2024 its strategic hub, a unique crossroads where the four flagship lines of Greater Paris will intersect: lines 14, 15, 16 and 17. Pleyel will also serve line D of the RER thanks to a huge bridge built above the railroad tracks. No more perpetual saturation of line 13, the only one so far to serve this landlocked district of Saint-Denis (Seine-Saint-Denis).

“With some 250,000 travelers every day, it will be the busiest station on the Grand Paris Express,” says the Grand Paris company. And it is not only the journeys from Saint-Denis that will be simplified – La Défense will be accessible without change and without going back through the center of Paris -, the Saint-Denis-Pleyel station will especially facilitate journeys for the entire territory, ”she emphasizes.

Since the end of 2019, Valérie and Sarah have been active there. Thirty meters underground, the two tunnel boring machines are about to join the underground enclosure of the future station. To complete this network, another site is already in full swing just opposite, one kilometer further east, that of the future Plaine-Stade-de-France station, which will host line 15 by 2030. , in correspondence with the RER B and the Tram (T8).

Prices up 40% near the two stations

“Saint-Denis is one of the big winners in Greater Paris, investing there is a good bet,” smiles Barbara Castillo-Rico, head of economic studies with the real estate appraisal site Meilleur Agents. Its office quarters near the stations have been completely redeveloped and have become a huge pool of jobs. ” And the demand for housing is exploding there. In five years, the stations of Saint-Denis-Pleyel and La Plaine-Stade-de-France have seen their prices per square meter rise by 40.5% and 44.6% respectively.

“These are spectacular performances, superior to those recorded by the ten largest French cities (Editor’s note: + 30%) while we are talking about metro stations! »Exclaims the professional. At 4,451 euros per square meter on average, the Pleyel station shows an increase of 9% over one year, against + 15% for the La Plaine-Stade de France station, which exceeds 3,100 euros / m2. Living near the future Pleyel station costs nearly 300 euros / m2 more expensive on average than in Saint-Denis itself (4,155 euros / m2).

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“The demand is on average four times greater than the supply,” explains Noureddine Benmouhoub, director of the ERA du Stade agency. Well-located apartments never stay on the market for long. ” Recently, a 4-room apartment of 80 m2 rue Proudhon, in the Plaine Saint-Denis district, a few meters from the Front-Populaire station (line 12), found a taker in 72 hours for 440,000 euros (excluding costs of agency), i.e. 5,500 euros / m2. A little further north, a three-room apartment of 65 m2, near the Stade de France, sold in 48 hours for 350,000 euros (5,400 € / m2, excluding agency fees)… A good paid 260,000 euros three years ago ! “A purchase in Saint-Denis is very quickly profitable, it takes a little more than three years on average to amortize the price of a property, against five years at the national level,” says Barbara Castillo-Rico.

Rents soon to be capped against the blaze

Who is buying? “We have of course speculators who plan to rent during the Olympics and sell afterwards with a capital gain,” he says. But Saint-Denis is first and foremost a historic postponement market for Parisians of the 17th, 18th, 19th and 20th arrondissements, for the inhabitants of Saint-Ouen and Montreuil who can no longer buy there or are looking for more space and green because our prices are still 1.5 times lower on average, ”he explains. For this often family clientele, proximity to transport has long been the key criterion. “This explains why the southern area of ​​the city to the Stade de France, already well served, is in great demand compared to the north, much less provided, notes Salim Bennaï, head of Orpi agencies in Saint-Denis. . But this network has also made it possible to attract young working people who are still reluctant towards the wrongly negative image of Saint-Denis. Once there, they are quickly seduced by its popular city center, its neighborhood life, its Gérard-Philipe Theater, its magnificent basilica, its Legion of Honor park and, since 2019, the Condorcet university campus. ” The average buyer’s age in Saint-Denis is only 34, according to Best Agents.

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City policy has a lot to do with it too. “The town hall created a real estate company that bought the walls of closed businesses in the hypercentre to open others, more upscale, such as recently a cheese factory, which we had not seen for years in Saint- Denis ”, adds Noureddine Benmouhoub. Would Saint-Denis be a victim of its success? In order not to “fuel inflationary pressures on rents” and avoid runaway prices, the city is preparing to cap its rents again from June 1 for five years.

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