Bron and the 8th “arrondissement” of Lyon

Located between the 7th and 3rd “arrondissements”, between the towns of Bron and Vénissieux, Lyon 8th, known as the birthplace of the cinema, occupies an area of 1,655 acres shared by 76,780 residents. Neighbouring Bron is a breath of fresh air in the east part of Lyon, with about 642 acres of natural greenery. Healthcare is the common denominator for these two addresses.

It was in the 8th “arrondissement”, before it was detached from the 7th, that the cinema was invented by the Lumière brothers, and the district has kept traces of its cultural vocation. As witnessed by the Institute and secondary school, infrastructures joined by the two MJC (Youth and Culture Centres) of Laënnec and Monplaisir, the “Maison de la Danse” and the Tony Garnier urban museum. The building of the hospital neighbourhood dates back to the early 20th century. Bron with its 39,970 residents is part of the “Communauté du Grand Lyon”. In addition to its gardens, it plays host to two centres focusing on high technology and one of France’s busiest business airports. In 2008, the newspaper “L’Equipe” designated Bron “the most sports-oriented town in France”. Today, its flagship activity is healthcare : the private Mermoz clinic and Rockefeller mother-and-child hospital have succeeded the Bioparc.

”Served by the metro and tramway, the 8th “arrondissement” is close to the exit from Lyon. It consists of two distinct worlds : Monplaisir and the immediate proximity of Vénissieux,” explains Philippe Régny of L’Agence Brussiaud de Villard. Monplaisir is synonymous with a certain classiness. Small houses rub shoulders with new or recent blocks of apartments. And Place Ambroise-Courtois has a lot of fans. Apartments range from 4,500 to 5,000 €/m2 versus 2,700 to 3,300 €/m2 in Vénissieux, an area undergoing transformation and affordable for a wider category of buyers. The short distance which separates the address from healthcare colleges boosts the market for rental investments. For 80,000 €, one can acquire a studio likely to bring in a monthly rent of 300-350 €. For 120,000 €, a 1-bedroom apartment will generate income of 480 € per month. Today’s preference for investing in real estate leaves no-one in any doubt. The only spoke in the wheel is the scarcity of properties likely to satisfy careful investors. As for first-time buyers, they pay on average 180,000 to 240,000 € for their acquisitions. The market in Vénissieux shows a satisfactory cruising speed up to 300,000 €, whereas Ambroise-Courtois attracts budgets around 400,000 €, exceptions aside. A third of the sales here consists of first acquisitions, another third of rental investments.

“Offering a good network of public transport, Bron benefits from the proximity of the 3rd and 8th “arrondissements” of Lyon, airy layout for the buildings, parks and a good choice of houses,” says Muriel Padet of Bron Service Immobilier. “Naturally, beautiful Bron also offers prices lower than those posted in the 3rd “arrondissement”.” Renovated housing built in the 1960’s and 1970’s ranges from 2,300 to 3,000 €/m2. Recent and more practical apartments of sound construction are pegged from 3,000 to 3,500 €/m2. Among her latest sales, our estate-agent mentions a house of 130 m2 with a garden of 550 m2, just 100 metres from the church, that a young couple wanting larger living space acquired for 504,000 €. Doctors working in the 3rd district paid 675,000 € for a house of 250 m2 in need of a revamp, in grounds of 1,900 m2. There is an evident gap between sellers’ expectations and buyers’ capabilities, despite lower interest rates. In fact, potential purchasers, well aware of the tension in the market, are waiting for prices to fall. A decline not likely to happen in the centre, a highly sought-after address, given the low level of availabilities.

”Bron’s closeness to the train station, airport and main roads is definitely its most persuasive argument,” says Christian Luminet of Laforêt Immobilier. “It is a go-ahead locality both structurally and economically. The industrial zone of Genas is pursuing its development, just like the healthcare sector, and an army training centre is moving in.” A distinction should be drawn between its suburban areas with their small houses and building plots, comparable to offerings in Montchat, and urban areas offering new developments. The “Carré Roosevelt” is now completed, while a BNP development is currently undergoing construction. These new arrivals have a positive effect on the market, giving it a second lease of life. “If we are to see a setback,” adds Christian Luminet, “it will probably concern so-called standard apartments”.