Marseille : a market undergoing transition

Radia Amar - 19 December 2023

With its sunny climate, its beaches, sports and cultural dynamism, Marseille always inspires significant demand for real estate. Faced by the national situation in the property market, it is becoming complicated to ensure that supply corresponds to demand.

With expertise in sales, rentals and property management in the Marseille sector, neighbouring communes and Le Var, the LLinares Immobilier agencies, located in the 8th and 11th arrondissements of Marseille, were created by David LLinares. A major player in real estate in the South of France for over 17 years, he now manages a team of about 30 collaborators. Immersed since his youth in the world of real estate, David won his spurs over many years in the family-run agency.

Transforming his work into a passion, he decided to create his own firm in 2017. Since then, it has continued to grow, and this admirable development characterizes his seriousness and skills. “We handle all kinds of properties with the same demand for quality and results,” explains David.

“After years of historic growth, our market is suffering the full brunt of a return to reality, still hard to accept by both sellers who find it hard to hear the true estimate of their property’s worth, and for the majority of buyers who, faced by rising interest rates, have lost about 20% of their borrowing capacity.”

In such a context, activity is curtailed. According to David LLinares, the market’s dynamism will not return until the second quarter of 2025.

Thanks to its solid local network and reputation, the LLinares Immobilier agency is maintaining a cruising speed during this transition period.

“Right now, we are mainly orchestrating transactions for buyers and sellers confronted by real urgency to complete their plans, often under circumstances of force majeure. We are currently returning to the very essence of the estate agent’s profession.”

And in his opinion, only the best will survive.

“Today, the number of sales depends on evaluations.” When the LLinares method is applied, in collaboration with owners, the results speak for themselves : 8 sales out of 10 are concluded thanks to this approach. “Overall, the market in Marseilles has declined by 10 %, and that concerns all kinds of properties. For example, a detached villa in the 11th arrondissement which would sell very quickly for around 1 million euros one year ago, can now remain on the market for several months if it is not presented at its exact price. To carry out effective marketing, you now have to act in real partnership with your clients. It is essentiel to work out a strategy. Which is, in fact, our expertise here at LLinares Immobilier.”