Lyon Croix-Rousse, a highly sought-after address
By Cécile Olivéro - 30 May 2012
One of two hills overlooking Lyon and rising to an altitude of 250 m, La Croix-Rousse is also a neighbourhood acclaimed for its atmosphere and quality life-style.
Original and atypical, La Croix-Rousse is still deeply marked by its past in the silk industry. It was elevated to the rank of a town in 1818, then attached to Lyon in 1852. Ten years later, a funicular connected it to the city centre ; the Lyonnais call it “the string”. Since 1952, the hill has been crossed by the road tunnel of La Croix-Rousse, linking the quaysides on the banks of the Rhône to those on the banks of the Saône. It was in the early 19th century that the “canuts” (silk weavers) settled at the top of the hillsides and on the plateau of La Croix-Rousse. Even today, “canuts”, ie. these apartments with very high ceilings, mezzanines providing extra living space, exposed stone and beams, and beautiful parquet floors, are highly-prized properties among fans of the style, including the English and Americans. On the top of the hill, the plateau constituting the 4th “arrondissement” of Lyon is crossed by two main shopping streets : from north to south, the Grande Rue de la Croix-Rousse and, from east to west, the Boulevard de la Croix-Rousse, which marks the border between the 1st and 4th districts. On the plateau, “canuts” are accompanied by a few apartments built in the 50’s/60’s and more recent residences. “It’s very difficult to give a price bracket for the “canut” apartment,” says Michèle Mercier of Acem Immobilier. In fact, everything will depend on its location, orientation, the quality of its restoration. One can nevertheless estimate the price per sq. metre, as between 3,000 and 4,500 €. Lacking garages and outdoor areas, the “canut” attracts clients looking for atypical and original properties. “Its appeal is similar to that exercised by lofts and has no rational explanation,” say Virginie de Barjac and Bruno Delhaye of Croix-Rousse Immobilier. As soon as they have generous surface areas, top-notch appointments and a pleasant environment, “canuts” find takers from Paris, but also London or Belgium, wanting a pied-à-terre on La Croix-Rousse. High-class apartments in attractive recent residences with parking facilities and elevators are chosen by retirees and couples with children, who pay 3,500 to 4,500 €/m2. Bourgeois houses, rather thin on the ground, can attain 800,000 € and more, when in perfect condition. “The plateau is appreciated for its community spirit, its atmosphere… Here, you can find all kinds of shops, restaurants, very good schools close by in Les Chartreux, parks and gardens. Living standards are very high”, confirms Sandra Viricel of Actuel Transaction.
The slopes (1st “arrondissement”) leave from the Place des Terreaux and finally reach the plateau. Hence the explicit name of certain streets, known as “montées” : Montée de la Grand’Côte, Montée Saint-Sébastien, Montée des Carmelites… More friendly to pedestrians than for cars, the slopes are characterized by a mix of populations. Those who have not found what they want or can afford on the plateau often fall back on this neighbourhood. Here again, “canuts” can still be found, together with apartments in bourgeois buildings. For the lower end and middle of the slopes, prices range from 3,000 to 3,700 €/m2. Unlike those living on the plateau, residents here do not benefit from all amenities, nor from the Metro. They nevertheless opt for La Croix-Rousse. In the district as a whole, demand greatly outstrips supply. The scarcity of available properties explains the high cost per sq. metre, and when a product does appear on the market, if it is properly estimated, it does not stay long for sale. Estate-agents old enough to judge have noticed that newcomers to Lyon, transferred for work purposes or arriving for other reasons, almost systematically want to live in La Croix-Rousse. Whence the buoyancy of the market. They have also noticed a return of people who bought an apartment in the neighbourhood when they were young, left when their family expanded and return once the children have grown up. Fondness for this part of Lyon thus seems to be very strong. And also here, people did not wait for the recent fad for “neighbourhood parties” to meet up and share a convivial evening under the sign of neighbourliness. The “Fête des Voisins” has been celebrated in La Croix-Rousse for half a century !
As for the rental market, it follows the trend and posts rather high prices. On the plateau, an apartment of 115 m2 with a parking place costs 1,600 € per month. On the Quai du Rhône, one would pay 1,500 € per month for 140 m2. A small “canut” of 40 m2, tastefully restored, will find a tenant for 500-550 €, occasionally up to 700 € per month. Also attracted by this neighbourhood, investors buy both old and new properties, sure of being in safe, well-charted territory.