Etoile-sur-Rhône, a village of real charm

Inspired by “stella”, the Latin word for a crossroads, Etoile is just 10 km from Valence at the junction of the A7, A49, RN7 and RN86, a 1-hour drive from Lyon and Grenoble, and 2 hours from Marseille. Over the past few decades, this commune with 4,500 inhabitants has endowed itself with quality amenities and encouraged the installation of businesses without, however, abandoning its basically rural character.

The saga of this watch-point overlooking the valley of the Rhône began in Roman times. At the end of the Middle Ages, the town, frequently visited by Diane de Poitiers, the powerful mistress of King Henri II, enjoyed real prosperity, though it lost its status as a stronghold under the Old Regime. Today, the hill-top village, which boasts no less than four public or private schools, benefits from its proximity to Valence, its employment pool and the facilities provided by the Prefecture of La Drôme.

“Covering an area of close on 43 km2, Etoile is very spread out with a relatively low density. The higher part of the site enjoys lovely scenic views,” says Wilfrid Derocles of Pôle Immo 26, which has two agencies in Valence and Livron. The surroundings are pleasant and the pedestrian streets are far from lacking in charm. Main residences account for 90 % of sales, 80 % of the market consists of houses spread out in various areas, and 60 % of transactions lie in the bracket ranging from 1,800 to 2,300 €/m2. A standard home of 150-180 m2 sells for 325,000 €, while a property of character in an elevated position, perfectly and recently renovated, can attain 3,000 €/m2. As an example, our estate-agent mentions a 17th-C. property of 260 m2 on about 3.75 acres of land, offered for sale at 680,000 €. This segment of the market nevertheless is hard to move as Etoile is not part of the Drôme-Provençale. Prices drop as one gets closer to the plain, the Rhône and, consequently, noise from main roads and the railway line. A few houses of 100 m2 on estates with gardens of 700-1,000 m2 change hands at 220,000 €. The market is holding up, in spite of competition from the neighbouring communes of Beauvallon, Montmeyran and Montélier.

“One can apply a rate of about 2,000-2,300 €/m2 for well-built, recent offerings, and 2,700 €/m2 for those with superior appointments. Nowadays, some village houses with no particular view or gardens sell for 1,000 €/m2,” says Delphine Jasinski of Etoile Immobilier, a member of the FNAIM boasting eleven years’ experience in the area. The main consequence of the crisis here has been a “clean-out” in activity. Sellers are now more serious, buyers less hesitant. With budgets of 300,000-350,000 €, 50 % of the latter are looking for a second or third acquisition. They do not need bridging loans and seem to be in rather a hurry. 10 %, with 150,000 €, are targetting investments, especially as the locality is eligible for Scellier tax advantages and the rental market is doing well. The few new developments are also selling extremely quickly, as apartments are thin on the ground. An old building whose five apartments are already rented out with a return of 6% has just sold for 300,000 €. As for first-time buyers, they can take advantage of the new PLU, the trend towards urban develoment and the 0 % loan if they decide to take the leap. They spend from 80,000 to 170,000 €, depending on whether they are alone or in couples. Among her most recent sales, Delphine Jasinski cites a 1-bedroom house freshly risen out of the ground, likely to bring 550 € per month to its owner who paid 135,000 €, notary’s fees included ; another in the village with living space of 100 m2 and a garden of 150 m2, acquired by a young couple for 137,000 € ; and a third house of 125 m2 in the plain, in excellent condition, with grounds of 7,000 m2 with a pool, snapped up by a self-employed couple for 353,000 €. All categories and budgets combined, the market is evidently recovering its cruising speed.