Rovaltain, a focus on “territorial coherence”

Set up in 1994, the “Syndicat Mixte du Schéma de Cohérence Territoriale (SCoT) Rovaltain” - a name derived from a contraction of Romans-sur-Isère, Valence and Tain-l’Hermitage - is responsible for structuring the sector around the Valence Rhône-Alpes Sud TGV railway station. In 2006, it was awarded the “Grand Projet Régional” label.

Rovaltain hosts 300,000 residents living in 106 communes. Two sectors were redeveloped in 2012 : the neighbourhood around the station (about 25 acres) dedicated to the service industry, and the Parc du 45e Parallèle (about 54.34 acres) focusing on production activities. This year, the first area should be extended over another 42 acres, again as part of an approach favouring sustainable development. Rovaltain’s preferred areas of activity include eco-toxicology, eco cons­truction, the wood industry and information and communic­ation technologies, which occupy 400 acres at the cross-over between the A49 and A7 motorways leading to Chambéry, Grenoble, Valence, Lyon and Marseille. The area’s status in training, research and innovation is rising. Its 95 companies provide 1,500 jobs, 73 % in the private sector.

“The railway station is an undenible boost for the area, placing Rovaltain a 30-minute train-ride from Lyon and 2 hours from Paris,” acknowledges Paul Clappe of Paul Clappe Immobilier, with branches in Romans, Tain and Saint-Donat-sur-L’Herbasse. The introduction of the railway service is encouraging the arrival of second residents from the Rhône-Alpine region, ready to invest 250,000-300,000 € in old properties of 120-150 m2 in the Drôme des Collines area. This clientele accounts for 15 % of the buyers at most. Valence is doing better than Romans economically, even if Valence’s job pool spills over indifferently into resid­ential areas in both towns. The market for main homes posts an average price of about 200,000 €, bringing an old or new house of 100 m2 with a garden of 700 m2. This type of property is of as much interest to active young couples as retirees from the region between Lyon and Paris.

“Rovaltain is a highly differentiated sector which sometimes follows opposing arguments,” says Alexandre Trollat of Trollat Immobilier, an agency in the Orpi network. In Romans, his site of predilection, transactions mainly involve year-round homes and rental investments. A very clear gap exists between supply and demand. While most clients are prepar­ed to pay 170,000-200,000 € for a villa of 90-100 m2 on a housing estate, this type of home actually ranges from 190,000 to 230,000 €. The same situation applies to apartments, priced at 1,200-1,300 €/m2 in 1970’s residences and over 2,000 €/m2 in new ones, with spikes up to 2,700 €/m2. Meanwhile, those looking for high-end apartments would be willing to spend considerable amounts to be in the heart of town, after selling their houses on the outskirts. Unfortunately, the reality of available properties does not correspond to their requirements. Out of 22 sales completed since January, Alexandre Trollat cites five houses, three building plots and two rental buildings. As for apartments, which constitute the vast majority, they range from only 50,000 to 106,000 €, while houses present a very wide range, from 128,000 to 800,000 € - the latter being the price of a recent villa of 180 m2, designed by an architect and in perfect condition, in grounds of 2,000 m2 with a pool, in a highly sought-after neighbourhood. These figures are symptomatic of the difficulties encountered by most clients in the bracket around 200,000 €. The only solution is to persuade sellers to be reasonable and agree to lower their prices. This becomes more complicated if they have owned their properties since 2007.

“The TGV station encourages employees and Parisian tele-workers to move here, to enjoy the setting and offer their families a quality life-style,” adds Sophie Seabra of Square Habitat, with agencies in Valence, Romans, Tain and Saint-Donat. The market for holiday homes shows a sharp decline : outsiders come here for holidays, but no longer buy. Tain-L’Hermitage, benefiting from the presence of vineyards and the prestige of Valrhona, posts prices much the same as those in Valence, whereas Romans offers prices 15-20 % lower for equivalent properties. The chocolate factory in fact boosts the rental rather than the acquisition market, with employees renting villas from 900 € per month. Seniors are leaving large towns to be closer to their families. In these troubled times, bonds of solidarity are strengthened. Purchasing power is still low, borrowing terms pretty drastic, despite a good first quarter. Sales now depend on prices being adjusted on the downside, after being on the market for as little as one month.