High-end properties in Valence

New developments launched over the past ten years have increased the stock of high-quality properties on offer. These new homes have also led to lower prices for prestigious old buildings. What do they offer in terms of appointments, surface areas and prices ?

At the heart of the valley of the Rhône, Valence, an agglomeration with about 65,000 residents, benefits from an effficient network of roads and motorways placing it only 1 hour from Lyon, Grenoble, Saint-Etienne or Orange. In addition, the “Autoroute du Soleil” (A7 motorway) which crosses the town takes you to Marseille in just 2 hours. The “Gateway to the South of France” also benefits from a temperate climate influenced by the Mediterranean. Another feature of Valence : it hosts the harbour of L’Epervière, France’s largest river harbour, with close on 480 moorings for pleasure boats.

As for real estate, it is mainly comprised of accommod­ation built in the 1960’s-1970’s, often without terraces or lifts, occupied as main homes. The market thus prop­oses very few high-end properties. “Over the past ten years, the launch of new developments with quality appointments has nevertheless enabled the town to extend its offerings and make older housing more affordable,” explain Alain Cornu and Cyrille Auzout, associate directors of Art et Habitat. New properties range from 3,500 to 4,000 € per sq. metre, whereas one can find apartments from 3,000 to 3,500 € per sq. metre in resid­ences less than ten years old. By way of example, in the town centre, recently offered for sale by the agency : an apartment on the 6th/top floor of a high-class residence, “a penthouse” of over 170 m2, surrounded by a terrace of 140 m2 with a panoramic 360° view, benefiting from two cellars and two garages. The price : 600,000 €. “Given their relative rarity, such properties maintain their value,” say our estate-agents. They are mainly to be found in the neighbourhood around Avenue Maurice-Faure, “the most highly-prized”, and Avenue Victor-Hugo.

It is here that Nicolas Noharet is based, associate director of 109 Immo : “Our area in fact plays host to a concentration of high-quality properties, though one can also unearth others in the Châteauvert and Grand Charran neighbourhoods”. In his opinion, three criteria enable a property to be classed in this category : “It has to have a good-sized terrace, a lift and secure private parking facilities. Its surface area can therefore be more modest, as long as these three requirements are met”. As exemplified by a studio of 30 m2 near the town centre in a residence built in the year 2000 with a terrace of 8 m2, lift and garage. “Some properties can, however, exceed 190 m2.” According to Nicolas Noharet, new apartments cost on average 3,600 € per sq. metre. In old buildings, “the price per sq. metre is around 2,500 €, possibly more in a residence built in the years 2000 or 1990, which has aged well”, while 1960’s-1970’s apartments sell from 1,800 to 2,000 € per sq. metre. “Our clients are therefore rarely first-time buyers. In most cases, they are retired or near retirement age, swapping their houses to be closer to amenities and enjoy a higher level of comfort”.

Marc Thireau, manager of Orpi Vauban and an estate-agent in Valence since 1988, confirms that high-end properties, “recent, very recent, or fully renovated apartments”, are concentrated within the Victor-Hugo, Maurice-Faure and Châteauvert neighbourhoods, “areas seeing high demand as they are close to shops, services and the town centre”. He also confirms that surface area is of secondary consideration when qualifying a property as belonging to the high end of the market, “contrary to what is seen in a city like Paris”. The prices he sees range from 100,000 to 300,000 €, though he also occasionally proposes exceptional properties, such as a large apartment on the top floor with a pool, which sold for 700,000 €. His last three transactions consist of a 3-bedroomed apartment of 82 m2 priced at 187,000 € (Avenue Victor-Hugo), a 1930’s house with five main rooms, garden and terrace at 210,000 € (Avenue de la Libération), and another house with a pool and fully converted basement at 320,000 € (L’Epervière area). “This type of property, though relatively long to sell, is not affected by the crunch.”