Albi, at the heart of Le Tarn

This town in the Midi-Pyrénées, an archbishopric and birthplace of the artist Toulouse-Lautrec, is home to 51,200 residents, 92,930 in its urban area. Located near the vineyards of Gaillac, 50 minutes from the Prefecture of Haute-Garonne, between the Aquitaine basin and the Massif Central, it is slowly but surely getting over the crisis.

Known as the “Red City” in reference to the bricks that compose its historic centre and the Sainte-Cécile Cathedral, Albi was once a hotbed of conflict between Catholics and Cathars, or “Albigeois”. Dating back to the Age of Antiquity, it could well become a World Heritage site, as UNESCO is currently reviewing its application. Less than a 2-hour drive separates it from the Mediterranean, about 3 hours from the Pyrenees. Embellishment work got going at the turn of the century, as witnessed by renovation of the Place du Vigan, now pedestrian, rehabilitation of Sainte-Cécile, refurbishment of the indoor market, the creation of the Pierre-Amalric mediatheque and the doubling of the ring-road, currently underway. The Laboratoires Fabre, subcontractors for Airbus, the Verrerie Ouvrière d’Albi and S.A.F.R.A are among the town’s job-providers, though employment largely concerns the service sector. The university, hospitals, the Chamber of Commerce and Industry of Albi-Carmaux-Gaillac and the 14 business parks are also productive from this point of view. From the number of hotel-nights and visitors to the Toulouse-Lautrec Museum and the cathedral, one can tell that the tourist sector is also on the rise. Relatively old, the stock of living accommodation is composed 89 % of primary homes, 57 % of houses and 43 % of apartments. Nearly 80 % of residents live in accommodation comprised of three or four main rooms.

“Demand for detached houses around 200,000 € is particularly strong,” note Caroline Chabbal and Gérard Puech of Cha Immobilier. This amount brings a “pavillon” of 100 m2 in good condition with an outdoor area of 500 m2 on the outskirts of Albi, or a 4-roomed apartment intra-muros that needs some refreshing, with a small garden but often without a garage. The neighbourhoods of Puygouzon and Ancienne Piscine are losing customers to Maladrerie and the Toulouse axis in general, attractive due to their easy commuting and the presence of the commercial zone. 1- and 2-bedroomed apartments in the centre are also popular. The average price per square metre is 2,500 €, though new developments cost over 3,000 € and exceptional examples change hands at 5,000 €/m2. Second homes represent only 5 to 6 % of transactions, rental investments 20 %, with main homes accounting for the remaining two-thirds. Estate-agents expect a slowdown in the first half of 2010 due to mechanisms relating to the emergence from the crisis and traditional election periods, but they do not hide their optimism about the second half of the year. The only certainty is that those waiting for slashed prices are going to be disappointed. Recent turnarounds and increased demand for technical surveys back up this reality. Entering into a contract at a reasonable price avoids wasting time.

Jean-François Cartière of Abitasud agrees with them on this point : “Correct estimates are vital, and buyers are ever more demanding, whatever the price-bracket. A 20-minute drive from Castres and Albi, heading from Auvergne towards Spain, Réalmont offers solutions for first-time buyers. Built in 1272, the Bastide Royale lies at the heart of the hiking trail. It is not uncommon to see vine-growers’ huts, garrets or old wash-houses in the area. Activities and events are not lacking, from the Fair for Secondhand Farm Equipment to the Fête for Perennial Plants, International Fair of Minerals and Fossils, Ré’Al Croche Country Music Festival and rural markets”. A building plot of 800-1,000 m2 with mains connections installed costs 50,000 to 55,000 €. A house of 150 m2 awaiting renovation starts at 65,000 €. A new 3-bedroomed house with a garden of 800 m2 can be had for 149,000 €, while an attractive villa costs around 300,000 € and a property of 250 m2 in about 27 acres of land bordering the river reaches 520,000 €. If the British are moving out, Belgian and Dutch clients are keen to replace them. With substantial budgets, they are looking for farmhouses or renovated manors, commodities that start at 600,000 €.

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