Corsican property market: The rarity of the good makes the price

The real estate market in the island is very variable. The price per square meter for sale can be multiplied by three in the heart of a single town. Real estate professionals agree, the price escapes all logic. Charming house, atypical or villa feet in the water, criteria that frenzied the price barometer. But to outbid all do not find buyers!

A charming house nestled in a hamlet, a villa feet in the water. Properties that dream and push up the price of real estate from one end of the island to the other. But when the supply is scarce, it gains in added value, which can raise the auction.

Recently, the price of a promotion in Cap Corse fed the debates on social networks. A flat type T3 was then displayed at nearly 610 000 euros! Since then, the price has been revised downward. But everything suggests that for this property located in Barcaggio, buyers "local" are already on the case. One of the primary reasons is therefore the rarity of the good. By browsing multiple professional real estate sites such as those reserved for offers between individuals, it is clear that the offer is very heterogeneous. A village house for sale at nearly 3,900 euros per sqm in Morsiglia, another this time posted at 2,700 euros per sqm.

In Meria, a house with a sea view of over 360,000 euros, 96 m². Or a villa with pool at nearly 4,000 euros per sqm at the entrance of Cap Corse, in the municipality of Erbalunga.

"It is difficult to mention a real estate price in this micro-region because everything depends first of all on the sector from which the property is located and then on many criteria", says Jean-Pierre Bronzini of the real estate agency of the palace in Bastia. In its catalog of offers, are found properties for sale in the town of Ersa in particular. "We have already made sales there, it is often for Corsicans of the diaspora who want to come back to settle in. Recently it was for" locals "who were renting and who decided to buy. demands for the wild side of these villages. "

Prices that escape all logic

If there is not an important market, this professional considers that it is "a region that will tend to develop, especially on its eastern facade, but we have already seen a trend change for almost four years." Moving north towards "the island in the island", the profile of the buyer evolves. Over the kilometers that separate these municipalities of Bastia, it is more secondary villas that are sought after. Why Cap Corse? "For the quality of life and sometimes very unusual goods that can be sold, like old American homes." An impression of being "out of time" which would be a selling asset in this micro-region. Especially in Erbalunga where the stamp is paid. "The scarcity of good makes its price." Properties close to the water can thus be sold at 5,000 euros per m². Transactions were even made for 6,000 euros per sqm in this picturesque marine. But on the same town, prices can be divided by two or even three depending on the locality, the style, as the year of construction.

In the opinion of a specialist, buyers are looking for authenticity. A property of nearly 70 m² with a view! But prices escape all logic. Large differences of 1,000 euros to 3,000 euros per sqm can be highlighted on the same hill. Between the unofficial and official prices again, differences have been reported.

Luxury, calm and real estate

Nearly 4,000 euros on average per sq. M. In the popular Marines of Centuri, for example, or 5,000 euros in Erbalunga. Impossible to know the official average price. Referring to the barometer of the notaries, established on data recorded between the months of August and October 2018, the median price of the houses in Haute-Corse is between 237 500 euros and 334 400 euros in Corse-du-Sud .

Difficult to further refine the research by zooming on the common cap corsines. Contacted, the regional council of notaries confided that these calculations did not exist. The real prices of the transactions are then well kept. Sometimes, between the initial price and the one stopped at the time of sale, the value of the property has lost a few thousand euros in a few months. It has been revised downward to succeed in finding a place in the market. Luxury real estate and charm has some entries on the Cap Corse. The rarity of the good "makes it unique and different". And then the prices fly away.