The buildings in the Olympic Village that will host Olympic and Paralympic athletes during the Paris 2024 Games will be converted into apartments next year. Already available for sale, they are struggling to find buyers.
Time for the reconversion of the athletes village will soon ring. Following the Paralympic Games, which will be held in Paris from August 28 to September 9, developers will transform the places that will have hosted the 14,000 participants of the Games. The key, in particular, will be 2,800 new homes. But they still need to find buyers…
For the moment, buyers do not seem to be rushing to acquire these homes, which are nevertheless forever linked to the success of the Paris Olympics. The reason, for example, is the still non-existent neighborhood life in this area spread over three municipalities in Seine-Saint-Denis (Saint-Denis, Saint-Ouen-sur-Seine and Île-Saint-Denis). But also the interest rates that remain, despite their decline in recent months significantly higher than at the design stage.
Dozens of homes still available
And then there are the prices: 7,000 euros per m² at the start for up-and-coming sectors. Developers have had to gradually lower their prices but, to date, this does not seem to be enough. Vinci Immobilier launched the marketing of the Apogée residence in Saint-Denis over a year ago and 17 homes are still available out of a total of 174. Icade, for its part, has opened first sales in March for one of its buildings on the banks of the Seine, in Saint-Ouen: of the 88 properties for sale, there are still more than forty left.
To speed up sales, Legendre Immobilier, in partnership with the Pichet group to market the homes on Île-Saint-Denis, is offering to waive notary fees, which amount to more than 2,000 euros per room.
Faced with the current oversupply, Nexity and Eiffage have still not launched the marketing of housing in their own buildings in the athletes’ village. Regardless of the developer, the future housing will be delivered at the end of next year, or even early 2026, the time to complete the reconversion.