L’Ain, small towns and villages

Situated in the Rhône-Alpes region, L’Ain is a “département” with a varied topography ; to the west, it offers a landscape of plains including La Bresse and the plateau of La Dombes, while Le Revermont announces the foothills of the Jura.

Boosted by its proximity to Lyon and Geneva, L’Ain does not really have any large towns, except Bourg-en-Bresse. With its 39,586 inhabitants, the commune is pretty much a large suburb of Lyon. It is, in fact, only an hour’s ride away on the TER from the city once known for its silk industry, and many Lyonnais are ready to make the return trip on an everyday basis in order to become home-owners. Bourg-en-Bresse and its surrounding area offer an appealing choice of accommodation, ranging from village houses to old mills, stone houses, apartments, farmhouses and even châteaux. In this region, only first-time buyers are struggling to buy ; when their budgets allow it, they acquire building plots and have homes built. Land is, however, becoming scarce and one thus has to pay at least 75,000 € for a plot of 800 m2. “Demand mainly concerns the town and the surrounding area within a radius of 10 kilometres,” says Fabienne Creola of the Cabinet Landecy. “In 2012, we seem to have lost the clientele with budgets ranging from 250,000 to 350,000 €.” On average, the price per sq. metre in the most popular neighbourhoods, Bel Air (on the hills) and Devorah, is 3,000 € and 2,500 € respectively. Very much in vogue, farmhouses in need of restoration appeal to those who are looking for space and authenticity, lofty volumes opening out to nature. One does, however, need substantial purchasing power. The same is true for mills which are sometimes transformed into guest-houses or self-catering accommodation for tourists. One example, already renovated, is looking for a taker at 780,000 € ; it offers 5 guest-rooms and a stretch of water that keeps fans of fishing happy. Village houses also have their dedicated fans ; searching for old stone and amenities on foot, they are confronted by starting prices between 200,000 and 300,000 €. As for apartments, they cost close on 1,500 €/m2 in old buildings, 2,500 €/m2 in new residences, the latter tending to slip a little over the past few months. Rare but charming, châteaux are often destined to become guest-houses : one example is currently on offer at 870,000 €. Displaying a wait-and-see attitude after a very busy first quarter in 2012, the property market in Bourg-en-Bresse is now marking time before new reforms are introduced. The same approach can be felt on the rental market. Here, studios are mostly of interest to students who pay 300 € per month on average. Local employees and retirees rent apartments with 1 bedroom for 450 per month, 2 bedrooms for 550 €, 3 bedrooms for 650 €, and houses near Bourg-en-Bresse for 800 € per month.

Midway between Lyon (33 km) and Bourg-en-Bresse (29 km), Villars-les Dombes is regarded as the “capital” of La Dombes, a region with a thousand ponds and small lakes, topping the list for fresh water fishing and a paradise for birds. “Villars-les Dombes is all set to develop,” explains Michel Blondeau of Gestion et Patrimoine de la Dombes. “For the price of an apartment in Lyon, you can buy a house here and reach the third largest city in France in 25 minutes on the TER.” Overall in this area, supply has trouble keeping up with demand for farmhouses to restore and bourgeois houses. One can expect to pay at least 150,000 to 200,000 € for a home of 200 to 400 m2 in need of renovation, in grounds of 2,500 to 3,000 m2. Currently, one such property to renovate, on almost 12.5 acres of land, is up for sale at 300,000 €. These estates appeal to fans of hunting and fishing, French industrialists, but also Swiss and English clients looking for wide open spaces. They also attract investors who then rent out the land to farmers. Recently, a partly renovated bourgeois house with outbuildings, on approx. 260 acres of land including a 62-acre lake, sold for 1.5 million euros. Retirees wanting shops and amenties within easy reach opt for apartments, whose price per sq. metre ranges from 2,800 to 3,500 €. Here again, only first-time buyers are penalized by a market whose prices have indeed dropped by 5 to 10 %, but which are still too high for them. The same, or possibly a worse, situation, is found in Saint-André-de-Corcy, a commune posting prices about 10 % higher than those in Villars-les-Dombes. A charming address reached in just 20 minutes from La Part-Dieu, Saint-André-de-Corcy is well-known for its good restaurants and leisure infrastructures, including three golf-courses within a radius of a few kilometres. Logically enough, its clientele is 90 % Lyonnais. Just as highly-prized, farmhouses and small holdings to renovate have become rare commodities here. “Over the past three years, we have seen extensive development of new apartment residences,” says Christophe Pernet of the agency bearing his name. A new development is to be delivered in 2013, two more are in their reservation phase. The local clientele, with a majority of senior citizens, pays approx. 3,000 €/m2. Families turn more to houses on estates ; for 250,000-300,000 €, they can acquire a home of 100 m2 with a small garden. But while waiting for new reforms and following the slowdown explained by the elections, buyers remain hesitant and delays in contract completion are becoming even longer. The market is waiting for a new boost and the arrival of fresh offerings to meet demand which, on the other hand, clearly remains constant.

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