Immovable. Vienne, La Tour-du-Pin et Bourgoin-Jallieu... The rise in rents is alarming

"Unheard" and "houses that leave in under an hour" are not acceptable.

Immovable. Vienne, La Tour-du-Pin et Bourgoin-Jallieu... The rise in rents is alarming

"Unheard" and "houses that leave in under an hour" are not acceptable. Nord-Isere real estate agents no longer have the formulas to qualify the territory for its rental market. It has enjoyed a positive rating from tenants in recent years but the Covid crisis has seen the phenomenon explode.

Both rentals and transactions are influenced by the appeal of less-urbanized areas. In many cases, rentals are influenced by sales surges. Many landlords have sold their properties that they were renting. They are willing to sell their properties at a higher price than continue renting," says Isabelle Cervi (manager of CIT Immobilier agency La Tour-du-Pin).

Add to that those who are unable to purchase their property due to the steep rise in selling prices. These are just a few ingredients in an explosive mix for the rental market. Prices are rising and goods are in short supply.

The most popular product is houses for rent. However, to be able to sign a lease you must have the income to pay it. Axel Chapuis is the manager of Guy Hoquet agency L'immobilier de Vienna. He says that there are many requests for houses but little supply. The rent of a house in Vienna ranges between 1,200 EUR to 1,500 EUR per monthly.

Bourgoin-Jallieu is the sector where you must also count at least EUR1,200 in order to rent a house with around 100 square meters and three bedrooms. This sector sells the most quickly.

It is possible to still find a house with a yard in La Tour-du-Pin or its environs for as low as 1,000 EUR per month. Comparing Isabelle Cervi to the same time two years ago, the average monthly rental in our territory was EUR800.

Even a small garden can drive up the price of property, sometimes quite unreasonably. Real estate agents have seen monthly rents exceeding EUR1,500 for exceptional properties that have an outdoor space or swimming pool in recent months. Franck Dubessy is the manager of Laforet in BourgoinJallieu.

Tension is high on the collective's rental market. Prices go up. Franck Dubessy comments that rents can be between 20 and 30 EUR per month for two tenants. A studio in BourgoinJallieu now costs EUR450 per month. Rents for large apartments, which can be up to EUR900 per month, are higher than those of one-bedroom apartments. These accommodations can benefit from a well-oriented terrace. Rents for large apartments, such as a 4-bedroom apartment, on the top floor, with large exteriors, in the center of BourgoinJallieu, can reach EUR1,400 per monthly.

The trend in Vienna is the same but the prices are a bit more contained. Axel Chapuis notes that a studio can be rented for 350 EUR to 400 EUR per month and a two-room apartment for 450 EUR to 500 EUR. Many people work in Lyon, but cannot afford to live there due to high prices. We receive many requests. Small shops near the station sell very quickly.

La Tour-du-Pin is still the most accessible apartment rental market. Isabelle Cervi summarizes, "The prices are stagnating." A T2 rents for 500 EUR per month, a T3 is around 600 EUR and a T4 is at least 700 EUR.

Tenants can be very demanding, even if the market seems lively. Low quality goods, particularly thermal colanders, are more difficult to find buyers. Axel Chapuis emphasizes that exteriors and parking lots are also important elements. Isabelle Cervi adds that the neighbourhood's proximity and vis-a-vis are important too.

The rental price is also affected by the equipment used, particularly in the kitchens and bathrooms. The rental period will also impact the price, which is not a major factor given the market's dynamism. Franck Dubessy says quality goods can be gone in just a few hours. However, those who don't have an outdoor space or a parking solution will stay on the market for a longer time, especially if they are slightly overpriced. This is something that most owners are well aware of and don't hesitate to do to ensure the optimal rotation of their property. This is the key to renting increases between tenants, which can be anywhere from 2 to 3 percent for apartments to as high as 10% for houses.

While there are no indications that these trends will change in the coming months, professionals in the sector are playing cautious. Isabelle Cervi wonders if tenants will still be willing to leave their job to enjoy better living conditions and fuel prices.

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