Real estate trends in Lille in 2024

Thanks to its geographical location, its economic and cultural dynamism, Lille is an attractive city that also attracts students and businesses, which has the effect of a strong demand on the rental market. Are you planning to buy in Lille or make a rental investment there? In a context of a declining real estate market, we decipher the Lille market.

An attractive real estate market
Lille, a dynamic and attractive metropolis in the Hauts-de-France region, continues to have a strong pull on the real estate market in 2024. The diversity of its neighborhoods offers a multitude of opportunities for buyers and investors. Old Lille remains one of the most popular districts, with its cobbled streets, Flemish facades and lively atmosphere. The Bois Blancs and Vauban-Esquermes neighborhoods are also attractive for their residential and family side, while the burgeoning Euralille district attracts investors looking for modernity and business opportunities. The suburbs of Lille also attract young workers thanks to a public transport network developed around the city. Cities such as Lambersart, Croix or Villeneuve-d-Ascq are increasingly popular and see their price per m² increase.

In terms of prices, the Lille real estate market remains broadly stable, with a slight upward trend in some sought-after neighborhoods. Prices per square meter vary depending on the location and characteristics of the property, but generally remain affordable compared to other major French cities. This price attractiveness strengthens the long-term investment potential in Lille.

Investments for the rental
In the Lille metropolis, 70% of residents are tenants according to INSEE. Rental demand remains strong in Lille in 2024, fueled by a large student population and growing demand from young workers. Indeed, Lille ranks 3rd most student city in France. Faced with this demand, investors are increasingly turning to the rental market, seeking to acquire real estate for rental purposes. Studios and small apartments, particularly popular with students, are profitable investments in university districts such as Vauban and Fives.

At the same time, apartments T2 and T3, suitable for young workers and couples, are also experiencing strong demand in the rental market. These properties, well located and well equipped, offer an attractive return for investors wishing to diversify their real estate portfolio.

Sustained demand in a tight market
Despite the pandemic and its economic repercussions, real estate demand remains strong in Lille, helping to maintain a tight market. This trend can be explained by several factors, including the economic dynamics of the region, the presence of renowned universities attracting national and international students, and the quality of life offered by the Lille metropolis.

However, this strong demand also creates a tension in the market, with limited supply compared to demand, especially in the most popular neighborhoods. This can lead to higher prices and increased competition between buyers and tenants, making it harder for certain segments of the population to own or rent a property.

Towards a generalized fall in prices?
Despite the positive outlook, some analyses suggest that real estate prices in Lille may fall across the board in the coming years or at least that prices will rise to a much lesser extent in previous years. This assumption is fueled by several factors, including market saturation in some neighborhoods, slowing economic growth and uncertainty related to the evolution of fiscal and economic policies.

However, such a decrease would not necessarily be uniform and would depend on various local and national factors. Some neighborhoods could maintain their attractiveness and stability, while others could experience a more pronounced price correction. In any case, it is important for investors and buyers to remain attentive to market developments and rely on expert advice to make informed decisions.