The left bank of Toulouse

Long considered as the poor relation of the “City of Violets”, the left bank, flood-ed on many occasions, is treating itself to a second youth and now offers appreciable assets. The destruction of the bridges in Saint-Cyprien in 1875 now seems like a dark and distant memory. Excursion to the other side of the Garonne.

The capital of Midi-Pyrénées, the largest region in France, is also the 4th largest city in the country with 445,000 inhabitants, including 89,000 students. 43 % of the population are aged under 29. With an excellent network of motorways, rail and air connections, Toulouse claims a territory consisting of over 29,145 acres of land, crossed by the River Garonne. In 1943, the quaysides were listed as protected sites. Over the decades, the riverbanks have been embellished to offer pleasant strolls. The Canal du Midi, which connects the Atlantic to the Mediterranean, was also classified as one of UNESCO's World Heritage sites, in 1996. Two canals, known as Brienne and Latéral, run through the landscape. The locality, home to Airbus, has become a technopole of European importance. Aeronautics, computer science and the space industry are activities pursued at the highest level. Toulouse thus gets a lot of coverage in the press, either referring to its quality of life or its economic dynamism. The coincidences of geography do not deal the cards equally between the two banks of the river. Very early on, the right bank, not subject to flooding, built housing, shops and amenities, leaving its counterpart trailing behind. In recent years, the left bank has been surfing on a wave of success. Saint Cyp’, as it is called by the younger generations drawn by this cosmopolitan enclave, is enjoying a new lease of life thanks to the metro. The Cours Dillon, Prairie des Filtres and the covered market attracts many visitors, while the various hospitals centres provide a pool of essential job opportunities.

“Saint-Cyprien is a trendy neighbourhood, characterized by a social mix and a convivial atmosphere,” says Gérald Auzer of Orpi Saint-Cyprien. “The historic centre, located between the Garonne and the Allées Charles de Fitte, is in fact the hyper-center. La Grave, L’Hôtel Dieu, La Prairie des Filtres and the abattoirs, converted into a Museum of Modern and Contemporary Art, are all part of the local heritage. The perimeter accommodates all the facilities and infrastructures needed for everyday life, starting with schools up to secondary level.” A renovated 2-bedroom apartment of 87 m2, benefitting from a small garage, in a building of typical architecture, costs 271,000 €. Beyond the famous Allées, 1960’s residences provide a substantial share of the offerings on the market, but are not very popular. Very often, they even do not even get a visit. They are thought to be poorly insulated and thus wasteful in terms of energy. Some of these residence and apartments, restored and perfectly maintained, nevertheless deserve a glance. Here, a 2-bedroom apartment of 54 m2 with a garage can be had for 130,000 €. The most sought-after type of property is, however, a family house, a segment suffering from scarcity. A home of 130 m2 to revamp with a small garden, on Rue des Fontaines, sold the first day it came on the market without any bargaining, for 390,000 €. Living space of 100 m2 on the banks of the Garonne, boasting a patio, was snapped up just as quickly for 374,000 €. Year-round residents account for 70 % of the agency’s business, investors for 30 %. A studio of 20 m2 can easily be rented for 350-400 €/month, a 1-bedroom apartment for 450-600 €/month. The yield of 4-5 % falls the closer one gets to Le Capitole. On the other hand, asset values increase. Overall, the popularity of the left bank is following an upward curve. Offering lots of amenities, it has benefitted from recent developments and the building of the Cancéropôle, the largest centre of dedicated cancer research throughout Europe.

“South of Saint-Cyprien, Croix-de-Pierre covers the neighbourhood of the same name, Sainte-Cécile and Les Oustalous,” explains Nicolas Deisieux of the Agence Disieux. “It offers proximity shops and amenities, and some of the accommodation enjoys a view of the Garonne.” The arrival of the tramway is slated for 2014. The area has an aging housing stock and there is a definite lack of new developments. The sq. metre here ranges on average from 2,200 to 2,400 €. Such attractive prices draw the interest of first-time buyers. The cruising speed in terms of turnover is satisfactory, despite a slight wait-and-see attitude observed since the beginning of this year. Among his recent transactions, Nicolas Deisieux mentions a 1960’s apartment of 56 m2 with 2 bedrooms, partly restored, which sold for 133,000 €, and another apartment of 65 m2 in good condition, which found a taker at 179,000 €. Most of the sales are below the 200,000 € mark. The likelihood of progression over the medium and long term seems, however, self-evident. The construction of the Cancéropôle and the inauguration of the Pierre Fabre laboratories could well generate a new wave of purchasers.

“Patte-d’Oie, on line A of the metro, also has its fans in the part bordering on Saint-Cyprien, with lower prices than those charged by its neighbour, at around 2,800-2,900 €/m2”, says Marie Delporte of Centorimmo. Finally, Purpan, renowned for its many medical and surgical centres and its INSERM units under the aegis of the CNRS, proposes a wider choice of properties. Easily accessible thanks to the ring road, this area should soon be joined by the tram. Its housing is relatively recent. Estates were built in the 1980’s, 1990’s and 2000’s. Recently, a couple of engineers working in aeronautics bought a house of 177 m2 with refined appointments, a garden of 380 m2 and a teak terrace of 100 m2, for 650,000 €. Such spikes are exceptional in the area, contrasting sharply to apartment buildings in Ancely, dating back to the ‘sixties and ‘seventies and priced from 1,500 to 2,200 €/m2. Overall in Purpan, apartments attain a maximum level of 3,000 €/m2.

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