Nantes, a strong wind in its sails…

The liveliest economic hub in the Great-West region claims one of the fastest growth rates in France : its greater urban area is home to 590,000 inhabitants, including 290,000 intramuros, of whom 51,000 are students. Each year, 3,500 people decide to move to one of its 26 communes, with the flagship address chalking up real success.

55 km from the Atlantic Ocean, Nantes stands at a junction between Brittany, the Vendée and Anjou. Both the administrative capital of the Pays de la Loire and the prefecture of Loire-Atlantique, the birthplace of Jules Verne, once frequented by the Dukes of Brittany, covers an area of over 16,300 acres. 2,717 acres consist of natural open greenery. Built in the times of the Gauls, the town belongs to the national network “Villes et Pays d’Art”. In 1972, the area between the Cours Saint-Pierre, Cours Saint-André and Quai de la Fosse was classified. The Château, cathedrals, Place Royale, Ile Feydeau and the neighbourhoods of Bouffay and Graslin are all within this protected perimeter. Ultra-dynamic, Nantes provides 275,000 jobs - 60,000 created in the last decade. Focusing on information technology, biotechnology, finance, mechan-ical engineering, the aerospace and food industries, the local economy is thriving. Nantes has four competivity clusters : EMC2, Atlantic Biothérapies, Génie Civile Eco-construction, Images et Réseaux.

Jean-Yves Guet of Breville Immobilier specializes in the sale of old apartments with character in the hyper-centre. His clientele is mainly composed of people in search of their main homes : couples fond of urban entertainment and proximity to amenities, and fam-

ilies mostly from outside the region, who want large surface areas (from 150 to 300 m2). Near the Cathedral, prices range from 2,700 to 3,500 €/m2, attaining 4,000 €/m2 over towards Graslin. The top end of the range implies a total absence of noise, immaculate condition and particularly refin-ed appointments. Privacy, light and a view then make a difference, together with the building’s precise location and level of quality. Terraces or gardens are rare : the price for the tiniest garden challenges all logic. Among recent transactions orchestrated by the Breville agency, Jean-Yves Guet mentions several contracts signed in quick succession by French expatriates ready to pay 350,000-450,000 € for so-called turnkey properties, acquired as investments, and an apartment of 150 m2 in need of a lick of paint, on the Place de la Cathédrale, acquired by a family wanting to move to the very heart of Nantes, for 3,300 €/m2.

Marie-Françoise Guilloux of the Cabinet Guilloux mainly proposes houses in neighbourhoods on the outskirts : Monselet, Saint-Donatien, Saint-Félix and Saint-Pasquier. An old example of 100 m2, fully renovated, extended by a pleasant garden, costs 399,000 €, while a classy residence of almost 500 m2 in good condition, in grounds of 1,500 m2, will fetch over 1.5 million euros. Houses like this were usually built between 1900 and 1930, and share the same type of layout. Their appointments and whether they are overlooked or not explain disparities in prices. The average budget among potential buyers ranges from 300,000 to 400,000 €. Beyond this level, only properties which have been correctly estimated will find takers within a reasonable time period. For example, a contemporary house in La Mellinet changed hands without any advertising for 900,000 €, for two reasons : it was offered at the right price and corresponded to today’s expectations. Nantes combines a pleasant life-style, an active pool of employment and a rich cultural agenda, just a 35-minute drive from the ocean. Assets guaranteeing a constant stream of transferred employees, especially from the Paris area. On the market for houses, momentum seems to be highly acceptable, especially since the beginning of the academic year, and despite the prospects of a slowdown typical of pre-election periods.

Installed in the Américains neighbourhood, Yann and Gildas Le Pollès of the Agence Shuman have noticed a rising number of requests for estimates of small apartments before they are put up for sale. This is probably related to the announcement of the change in legislation on capital gains. Close to university faculties, the site has lots of studios worth 60,000-80,000 €, of interest to rental investors, 2-bedroom apartments in 1960’s-1970’s residences priced around 150,000 €, suiting first-time buyers and retirees, but also more recent accommodation offering a full range of amenities. A 4-bedroom duplex of 105 m2, with a garage and opening out to a terrace of 40 m2, will leave the agency files for 450,000 €. Generally speaking, buyers of apartments which will be their main homes spend 200,000 to 250,000 €. Out of every ten sales, six concern old houses costing from 300,000 to 600,000 €, whereas most of the search mandates fall into the 450,000-500,000 € bracket. For the time being, the effects of the shortage have more of an impact than those of the crisis. Protected from the bustle of the town centre, this enclave with bus and tram services, plus the Chronobus as of 2012, offers gardens, two highly-rated schools and neighbourhood shops over towards Longchamp and the Rond-Point de Rennes. The Cabinet Guilloux and Agence Shuman belong to the 1 % housing association. In other words, they donate 1 % of their commissions to the Abbé Pierre Foundation for people in poor housing conditions.