The impact of infrastructure projects on property values

Improving public transport infrastructure is a central lever of urban accessibility. The extension of Paris metro line 14, for example, has reduced journey times to the city centre, generating a marked appreciation in property values in districts such as Saint-Ouen and Clichy: a study by the Chambre des Notaires de Paris (Paris Chamber of Notaries) shows a 20% rise in prices in these areas.

Motorway construction strengthens inter-city mobility and attracts investment. The completion of the A89 motorway between Lyon and Bordeaux substantially improved connectivity between these two cities: according to INSEE (the French national statistics institute), municipalities in the immediate vicinity saw a 15% increase in property transactions in the two years following its opening.

Transport infrastructure acts as a catalyst for local development, attracting businesses and encouraging housing construction. The opening of Lyon-Saint-Exupéry airport, with its connection to the TGV high-speed rail network, transformed the surrounding areas, as illustrated by the development of the Part-Dieu district.

Major projects often lead to complementary investment (secondary roads, schools, parks). This multiplier effect creates a dynamic urban ecosystem, increasing property values. The Euroméditerranée project in Marseille is an illustration of this: it has revitalised the city centre and attracted more than €7 billion of private investment.

The transformation of the Île de Nantes is a compelling example: the former shipyards have been converted into mixed-use spaces combining housing, offices, shops and cultural facilities, as in the Îlink project (14,000 m² of housing, 6,000 m² of office space, 2,000 m² of retail).

In Lyon, the redevelopment of the Confluence district, driven in particular by the development of the T1 tramway, has facilitated mobility and encouraged densification by increasing demand for housing and commercial space close to the stops.

Using recent sales data from similar areas affected by infrastructure projects makes it possible to project potential increases in value. A study by the Institut d’Aménagement et d’Urbanisme d’Île-de-France (Île-de-France urban planning institute) on the Grand Paris Express highlights that properties close to future stations see their prices rise by 5 to 10% even before the works are completed. Research on the extension of metro line B in Toulouse indicates an average increase of 15% in values around the new stations, according to Toulouse Métropole.

Other examples include the renovation of Bordeaux Saint-Jean station, where values in the district have risen by almost 40% since the start of the works according to Bordeaux Métropole and our internal database; and the extension of the Lyon tramway towards Gerland and Oullins, documented by the URBALYON urban planning agency.

Infrastructure projects are not mere functional improvements: they are catalysts for urban and economic transformation, whose impact must be carefully assessed. Property valuers must combine an understanding of current dynamics with a vision of future developments. Tasked with estimating market value at a given point in time, they must take into account the impact of existing and future infrastructure without claiming to predict the future: their rigour and transparency then become crucial.