A city of art and history, the Prefecture of the Drôme stands on the left bank of the Rhône, 100 km south of Lyon, 110 km north of Avignon and 90 km west of Grenoble. Commonly called the “Gateway to the South”, it has 65,260 inhabitants within its walls, 167,160 in its urban area.

Since the beginning of our era, this locality has been a crossroads of major importance. During the Armenian genocide which occurred between 1918 and 1921, its refugees formed one of the country’s most representative communities here, so much so that their descendants now account for 10% of the town’s population. Following the bombings of World War II, the northern part of Valence was completely rebuilt. The Prefecture building now rubs shoulders with the general treasury, post office, social security centre and police station. According to the INSEE, 76.5 % of jobs are in the service sector, 4.8 % in construction, and 17.8 % in industry, in areas as diverse as food processing, metallurgy, mechanics and electronics. There are several activity centres, from the commercial zone of Les Couleures to Les Auréats, Briffaut Est-Ouest, the plateau of Lautagne, the Technoparcs and Hôtel Cime. This town of garrisons is improving its accessibility : the TGV railway station is a few kilometres from the centre and the recreational river port of L’Epervière offers no less than 460 moorings. Local people are proud of their 40 km of canals. The municipality is, in fact, working to enhance the river banks by planting willows and poplar trees.

“In recent years, Valence has acquired a substantial stock of housing, despite the actual needs of its population. This massive replenishment of stocks, coupled with tense economic conditions, probably precipitated the drop in prices by 10 to 20% for old buildings and 10 to 15% for the new ones,” comments Wilfrid Derocles of Solvimo GW Consulting, which has not hesitated in tripling its communication budget. While the pedestrian streets of the historic centre have undeniable appeal, interested parties, ready to pay 1,500 to 2,000 €/m2, are obliged to forego parking facilities, terraces and elevators. Classy homes are to be found on the boulevards. Costing 1,800 to 2,200 €/m2, these Haussmann buildings benefit from balconies and beautiful high ceilings. Crossed by the famous canals, Châteauvert offers convenience and calm. A 10-minute walk from the town centre and railway station, this neighbourhood blends ravishing villas with quality apartment buildings, priced at around 2,000 €/m2. A home of 150 m2, opening out to a garden of 600 m2, is currently worth 350,000 €, whereas just a year ago it would have fetched 3,000 €/m2. From N° 200 Avenue Victor Hugo onwards, one discovers more recent buildings, not attracting much interest due to their high prices and more remote position. The location makes all the difference : at the peak of the crisis, a development on the Champ de Mars, facing the Parc Jouvet and Peynet kiosk, sold in record time despite its high prices, over and above 3,500 €/m2. Generally speaking, houses costing 220,000 € and 2-bedroomed apartments at 110,000 € are selling rather well. The price correction and healthier attitudes are proving to be beneficial. In fact, after the 2002-2006 boom in prices of nearly 50%, younger workers could no longer afford to buy a home. People who bought in 2006 and 2007, now forced to part with their properties, are the real victims, showing a net loss of 20%.

“Indicating a lack of clarity even over the short term, business is up-and-down, yet all studies show enthusiasm for property acquisition,” says Dominique Peter. “There are two types of buyers : wildcat investors prone to making outrageous offers and clients, often more timid in their proposals, who really need to find a home quickly,” adds the manager of Aedium Immobilier. Detached or village houses, old or new, located on the outskirts, have their fans : they like the well-preserved areas and lower property taxes offered by Chabeuil, Montoison, Saint-Peray and Charmes-sur-Rhône, the charm of Etoile, a village languishing around its castle, or the proximity of Guilherand-Grange, an extension of Valence in the Ardèche, served by public transport. Those who venture beyond the symbolic barrier of 10 km appreciate Allex. Modest houses on estates range from 220,000 to 250,000 € ; village houses start at 150,000 € ; a house built of stone at 350,000 €. Here, there’s no carryover from the Alpilles or the Luberon : accommodation consists almost solely of main residences, as opposed to the south of the Drôme. Estate agents all agree the importance of professionalism, their duty to provide advice and assistance, the essential nature of training and strict observance of regulations and ethics.