Villeurbanne, Lyon 3 and Lyon 6 : a flourishing market

While the 3rd and 6th “arrondissements” of Lyon strive to meet high demand, the nearby suburb of Villeurbanne is not lagging behind. Both properties and clients come in different styles and sizes. This area is a very mixed bag...

Lyon has nine “arrondissements”, the first five of which were ordained by a decree dated March 24th, 1852. The 3rd is the most populated within the commune, and the most densely populated after the 1st, with 14,624 residents per sq. km. Very ill-assorted, it can be broken down into into four main neighbourhoods, Préfecture, Part-Dieu, Gambetta and Montchat. The Préfecture area boasts a few fine Haussmann buildings, rare and thus highly-prized, as well as other stone masonry buildings. Close to the Presqu’île with its bourgeois ambiance, it attracts the actively employed and retirees, some of whom have sold their houses to get closer to urban amenities, while hanging on to leafy settings. Here, one needs a budget of 4,000 €/m2 or more, depending on appointments. With its more recent constructions and numerous office buildings, La Part-Dieu draws all those wanting to be near the TGV station. Old or recent, apartments are pegged from 2,500 €/ m2. On the eastern side of La Part-Dieu, an apartment of 130 m2 in the superb residence “Les Jardins d’Orsay” recently sold for 525,000 €, a price justified by its being in a sought-after area close to the train station. More working-class, Gambetta is also close to shops and the Presqu’île. It is popular among casual-chic trendies who pay from 3,500 to 4,000 €/m2. Montchat is a village within the city, offering homes dating back to the 1930’s and enviable properties. Close to hospitals, this neighbourhood is sought-after by doctors and other professionals with high purchasing power. “There’s no talk of mid-range prices in Montchat,” say Emmanuelle Meudic and Lilian Baule of L’Espace Immobilier Transaction. “The starting price is around 3,000 €/m2 for old buildings, up to 5,000 € for new homes.” By way of example, a house of 90 m2 between Montchat and Monplaisir is currently on offer for 550,000 €.

Regarded as the city’s most chic “arrondissement”, occupying 931 acres, the 6th boasts wide avenues, handsome buildings, private mansions, and Lyon’s Convention Centre. Shops line the Cours Vitton and it’s here where one finds most of the foreign consulates. Real-estate activity focuses on three areas : the one near the Park, Les Brotteaux and Foch. Quiet, safe and green, the Parc de la Tête d’Or provides breathing space for the 6th. The entry fee is high but, in return, stone is a safe haven and the purchaser is sure of long-term profitability. In the space of two years, an apartment of 65 m2 on Rue Barreme (with very little refurbishment carried out) produced a capital gain of 80,000 €. The only drawback is that the neighbourhood is a 10-minute walk to the Metro and shops, which puts a brake on some clients’ enthusiasm. Families like living here, including Parisians transferred to Lyon, and senior citizens who appreciate the Park’s proximity and the security offered by the address. “You could compare this neighbourhood to the 16th in Paris,” says Nathalie Bouland of Styléome. More lively, Les Brotteaux is a favourite among 25-35 year-olds, with or without children. Old buildings in Art Deco style coexist with more recent residences. For an apartment to renovate in a building without a lift, one will pay 4,000 to 5,000 €/m2. On Boulevard Brotteaux, one example of 55 m2 is for sale at 280,000 €. Despite the new measures, investors are still interested in this area, knowing that they will have no problem making a return on their acquisition. At the heart of the Presqu’île without being on it, Foch is by far the liveliest and most open neighbourhood. The starting price is 5,000 €/m2, or even 6,000 €/m2 for an apartment on an upper floor in a desirable location. Chic boutiques, the Metro nearby, the Place de l’Hôtel de Ville only a 5-minute walk… and apartments in Haussmann style, offering generous surface areas, high ceilings and all the requisite appointments. A panoply of attributes for the greater enjoyment of a varied clientele, 40 year-olds, families with teenagers, retirees. “One could say that Foch is the twin of the Presqu’île, but more comfortable and more open,” says Nathalie Bouland. The slogan of her agency, “A home means living, changing, growing “, sums up its particular approach. In fact, it is the only estate agency in the region to offer both property searches and an interior decor project, giving it added value.

Villeurbanne is often referred to as the 10th “arrondissement” of Lyon. France’s largest suburb with 144,751 residents, it is bounded to the west by the Parc de la Tête d’Or (the city’s 6th “arrondissement”), to the south by the 3rd “arrondissement”, to the east by Bron and Vaulx-en-Velin and to the north by the Rhône. Villeurbanne is split into two parts, separated by the “périphérique” or ring-road. “The Villeurbanne address is 15 to 20 % cheaper than that of Lyon,” says Maxim Caminale of Laforêt Immobilier. “If you take the Route de Genas, which links Montchat and Villeurbanne, you can find disparities of 20 % from one sidewalk to another.” Schematically, there are 9 neighbourhoods in Villeurbanne on this side of the “périphérique”: République/ Charpennes, Flachet/Cusset, Château Gaillard, La Doua, Croix-Luzet, Place Grandclément, Le Bon Coin, Totem and Gratte-Ciel. The most expensive, République/Charpennes and Totem, post prices virtually the same as those in Lyon. The reason ? Their closeness to the 3rd “arrondissement”. For a mere 500 metres, prices drop by 10 %. Also in high demand, Gratte-Ciel, at the very centre of Villeurbanne ; these areas are home to first-time buyers with managerial positions. First-time buyers on salaries and lower-ranking employees opt for Flachet/Cusset or Grandclément, where a home of 125 m2 with a garden of 600 m2 costs 399,000 €. Châteaugaillard is a micro-market, with a majority of houses and “ pavillons” neatly lining the streets. An example of 160 m2 in need of a revamp with a garden of 750 m2 costs 645,000 €. Just like Cusset, it is highly-prized because it combines the advantages of a location in town with houses at really affordable prices. By comparison, a recent penthouse will be more expensive (550,000 € for living space of 116 m2 with a terrace of 100 m2). These properties, like apartments with attractive terraces, find takers among owners of houses in the region around Lyon who sell them to move into the city, as close as possible to all amenities. This type of client will opt for properties such as a duplex apartment of 180 m2 with a 90 m2 terrace costing 630,000 €. On the far side of the “périphérique”, one finds the neighbourhoods of Saint-Jean, La Soie, Laurent Bonnevay and Bel Air les Brosses. In the latter, a 3-bedroom apartment of 77 m2 can be had for 112,000 € ; the same in the centre of Villeurbanne would cost 230,000 to 250,000 €. The area known as La Soie is currently being treated to overall restructuring ; the hippodrome has just been rehabilitated, numerous firms are opening their doors and there is a lot of building land available. A sector therefore seeing a boom, where the sq. metre is currently pegged at 2,000 €. Something of a melting-pot, Villeurbanne has various communities who all rub shoulders. Its property market is lively, fluid and attractive, on a par with that of Lyon. Here, people buy for one clear and simple reason : to acquire a home.