Drôme Provençale, playing the ace of diversity

Drôme Provençale, playing the ace of diversity This is a region blessed with fields of lavender and sunflowers, olive-trees and vines, oaks and cypress trees. Its main town, Montélimar, is known as the capital of nougat. Valence marks a turning-point between two different clim­ates. To the south, it is that of the Mediterranean.

On foot, bike or horseback, the region’s many pathways invite you to discover the Drôme Provençale. Black AOC olives from Nyons, lime-blossom tea from Buis-les-Baronnies, ravioli from Le Dauphiné and black truffles from Saint-Paul-Trois-Châteaux all titillate the visitor’s taste-buds, just like the Picodon goat’s cheese, honey and fruit, garlic from La Valdaine and fine spelt, not forgetting Hermitage, Crozes-Hermitage and Vinsobres wines. Authentic hill-top villages exude their charm via a château, church or chapel. In 2012, the local Tourism Observatory reported a total 7.9 million hotel-nights, making the destination 38th in France’s popularity polls. 64 % of the tourists are French, 36 % foreigners. The diversity of the scenery, cultural and sports activities is the true magnet of the Drôme Provençale.

“The beauty of the natural setting, the authentic buildings and the warm welcome found here are some of the main assets offered by the Drôme Provençale,” says Denis Allouche of Solis Immobilier. “Not forgetting its geographic position. Accessible via the A7 and not far from the TGV stations in Montélimar, Avignon and Valence, it is less than 1 hr 30 from the airports of Lyon and Marseille-Provence.” Montélimar and Saint-Paul-Trois-Châteaux/Pierrelatte are the region’s main pools of employments. Focusing on properties of charm, our estate-agent explains that 80 % of the buyers are looking for second homes and include a few clients in their fifties hoping to retire to the region. The Drôme Provençale became popular at a later stage than the Luberon and has therefore undergone a less massive wave of renovation ; today, however, their standards of quality are pretty much the same. Budgets intended for holiday homes range from 450,000 € - the sum required for a “mazet” of 150-160 m2 in the country, in need of restoration, in grounds of 2,500 m2 to 2.5 acres - to 2 million euros, bringing a property of 300-450 m2 in perfect condition on 2.5 to 50 acres of land close to a renowned village. Most budgets fall into the 650,000 to 850,000 € bracket. It’s pretty hard-going to get sales finally completed, though buyers are serious and well-qualified financially.

“The first argument put forward by the Drôme Provençale is the sun, a real motive for people from large cities in France and northern Europe who fall for the charm of places such as Dieulefit and Grignan, renowned for its château, one of the finest in Provence,” comments Philippe Tarriotte of Tarriotte Immobilier. So-called “properties of character” form a market segment all their own ; the majority of fans are ready to pay from 450,000 to 750,000 €. Village houses and villas priced from 200,000 to 400,000 € receive just as much attention. Philippe Tarriote, who has agencies in Montélimar, Dieulefit and a href="http://www.housesandapartments.fr/real-estate-grignan-26-france-10571-52_.html">Grignan, says that two-thirds of his clientele consist of the locally employed. As for the “mas”, it only accounts for 10 % of transactions. Now in the hands of buyers, power within the market has changed sides. A smooth flow of activity depends on sellers adopting a realistic approach to their prices.

Based in Saint-Paul-Trois-Châteaux for 22 years, Christine Miranda of Christine Miranda Immobilier focuses on prestige properties. “Despite the crunch, this market category is holding up relatively well. It has suffered more from the new legislation on capital gains than the national economic context. As soon as the law came into effect, many owners withdrew their homes from the files, resulting in a lower level of available stocks.” Half of the buyers of second residences are from Belgium, a population traditionally fond of the Drôme Provençale. A rising number of families from the region between Lyon and Paris are moving into the département, willing to make trips back and forth for their professional requirements. The lowest price-tag on a farmhouse to restore is about 250,000 €. Beyond 1.5 M €, it becomes harder to convince potential purchasers to opt for the region rather than the Alpilles or the Luberon. Most of them are looking for villages with a good array of shops and lively year round : they appreciate the friendly lifestyle and want to re-establish human relationships by joining local clubs and associations. Only properties which have been fairly estimated will sell within three to six months. Among her most recent sales, Christine Miranda cites a residence in excellent condition with six bedrooms and five bathrooms on almost 2.5 acres of land benefiting from a pool and tennis court, which sold for 1.1 million euros.