DECRYPTION. Real Estate: Why Retirees Are Taking Over the Tarn Market

In the tarn real estate market, the elderly took over in 2023. According to figures published by the Chamber of Notaries of the Court of Appeal of Toulouse, a quarter of all property buyers are aged 60 or over. The upward curve that started in 2022 and which is confirmed, while all other age groups are stable or decreasing.

for me^E Antoine Fabre, Deputy President of the Chamber of Notaries in charge of real estate in Tarn, “This curve shows that people over 60 are those who are not affected by difficulties in obtaining credit: they often have assets and a financial base that allows them. To enter into a contract of sale and sometimes even to anticipate the time of retirement. But these curves also reveal for other age groups, working people and youth, a real loss of confidence in the real estate market.”

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In Castries and Albi, young retirees represent a third of buyers. After a few years of euphoria, sales of all merchandise fell 22% in 2023, or 6,180 sales compared to 7,950 in 2022.

House prices fall in Albi, Labruguière and Coufouleux

In one year, the average sale price of a house in Tarn has decreased: €160,000 (-1.8%). Development remains variable depending on the sector. Some notable examples: in Rabastens (€211,200) and Albi (€184,900), prices saw a net decrease of around 12%. In contrast: in Labruguière (€151,900) and Coufouleux (€290,000), prices have risen by around 16%. Elsewhere, they remain relatively stable: Castres (€162,400, +5.8%), Grailhet (€139,000, +6.8%), Mazamet (€104,900, – 0.1%), Lavaur (€225,100, – 2.2%), Gaillac ( €). 190,500, – 4.8%) or Lecoun (€84,700).

In the past year, three houses have exceeded one million euros. Head to Puygozon for €1,248,200 for a 10-room apartment (200 m2 of living space and 5,878 m2 of land) in first place in an exceptional sale. The second, in Saint-Jean-de-Rives, was bought for €1,071,500 (7 rooms, 382 m2 of living space and 150,362 m2 of land). Vénès completes the podium with a house sold for €1,008,200 (13 rooms, 236 m2 and 567,054 m2 of land).

Apartments: Prices rise in Mazamet and Lavaur

In contrast to houses, the price of older apartments per m2 has increased on average, although slightly higher in 2023: €1,850 (+1.4%). The biggest increase has been in Mazamet (€1,070, +13%), followed by the Lavor sector (€1,810, +11%) and Réalmontais, Graulhétois and Lautrécois (€1,090, +6.9%) ), and Albi (€2,300, + 6.7%). For a reduction, head to the Rabestans and Saint-Sulpice sectors (€1,790, – 9.6%) and lighter around Gallac and Lisle-sur-Tarn (€1,680, – 0.7%).

Albi took the top spot with 12 of 17 apartments placing in the top 5, including 4 in the top 5. But the first place is sold for €649,600 with a three-room apartment of 142 m2.

Fall in land prices in Puylaurentais

 – A decrease of 18%, there is a curve in the price of building land in Puylorrentais (€41,000), while the two biggest increases are in Albijóis (62,500, +15%) and Castres country (€51,400, +13%). Overall, the average sale price in Turn (€48,600) fell by -2.9%.