Lyon : the 2nd district, from Ainay to Confluence

From bourgeois buildings dating back to the first half of the 19th century over towards Ainay to ultra-modern residences freshly risen from the ground in Confluence, the choice of housing is extremely diverse. Professionals describe the market in Lyon’s 2nd “arrondissement”...

The history of Ainay is closely linked to that of the Romanesque Basilica of Saint-Martin. As early as the 18th century, a desire to open up the neighbourhood became apparent. The Ainay bridge was built in 1745, bringing the address closer to Saint-Georges on the right bank of the Saône. It was popular among the aristocracy, with the bourgeoisie soon to follow. The pedestrian Rue Victor-Hugo, dotted with mansions built under the Restoration, is now lined with many shops, while the Ainay neighbourhood plays host to the 2nd district’s Town-hall. Confluence consists of 370 acres of land being “reconquered” at the heart of Lyon. Formerly devoted to industry and transportation, this riverside area is benefitting from a wide-ranging policy of urban renewal. The aim is clear : to reappropriate the natural environment and the riverbanks. The boating area was delivered in 2010. The Parc de la Saône and new housing of La Darse is being organized. This year, the commercial centre is to be inaugurated.

“From Place Bellecour to the Perrache railway station, from the Rhône to the Saône, Ainay on the “presq’île de Lyon” has seen growing demand and rising property prices over the past few years,” says Nicolas Devic of the Agence Mercure. “In terms of prestige, it could be compared to the 5th “arrondissement”, the 3rd Préfecture and La Croix-Rousse.” Properties available for sale are becoming rarer than in the older possibilities offered by Confluence - a more affordable and less sought-after solution due to the symbolic barrier of Perrache. For our estate agent’s last five sales, the average budget was around 800,000 € and concerned apartments from 140 to 200 m2, to the taste of families, retirees and the upper socio-professional categories. Terraces and garages are thin on the ground. A handsome bourgeois apartment to renovate, benefitting from a garage, can easily be pegged at 4,600/m2 in Sainte-Hélène. Potential buyers are looking for a peaceful setting, good amenities and full coverage of the area by public transport. The site can easily compete with Foch and Franklin-Roosevelt. In late 2011 and early 2012, the market was extremely active. Since then, completion times have become longer, unless the prices posted are truly in line with market realities. If a property stays more than 45 days on the files without arousing any interest, the seller should reconsider his asking price. 80 % of sales are for personal occupation, compared with 20 % acquired as investments. The quality of a long-term investment compensates for low performance in terms of rental income. Ainay provides concrete evidence that high-quality urban accommodation is doing better than properties in the countryside. First-time buyers set their sights more on Confluence, more within their reach.

“In the 2nd district, there are several niche markets : the Quais Tilsitt, Saint-Antoine, Les Célestins and the Place des Jacobins”, comments Sophie Aknine of Akso Conseils. Here, bourgeois apartments which have been very well renovated may approach or exceed 7,000 €/m2. It’s hard to imagine that Confluence, an unprecedented project of urban renewal, is so close by. Unlike employees transferred from Paris, some of the locals find it hard to take on the challenge, this bet on the future, and to choose to settle in Confluence, however convenient and accessible it may be. Yet the sector proposes low-energy BBC residences that are very comfortable, offering generous and practical living space, garages and terraces worthy of the name, almost the only ones to do so in the 2nd “arrondissement”. Some developments flirt with the 7,500 €/m2 mark, while others are priced around 5,500 €/m2 when put up for re-sale. They reflect real architectural freedom. One simply has to accept living in a rapidly changing neighbourhood, an extension of the centre which is making its mark with each passing month.