The 1st “arrondissement” of Lyon, chic and Bohemian

By Cécile Olivéro - 14 June 2013

This atypical neighbourhood is a highly-prized address, considered very pleasant to live in. Created on March 24th, 1852, it covers a surface area of 373 acres and accommodates about 28,755 residents according to the last census, taken in 2010.

It is the smallest of all of Lyon’s “arrondissements” but also one of the liveliest. Within this same district, Hélène Mollière of L’Immobilière Saint-Nizier Orpi draws a further distinction between two different markets, the Presqu’île and the slopes of Croix-Rousse, with La Martinière linking the two. “The Presqu’île is known for its bourgeois buildings with desirable apartments costing close on 4,500 or even 5,000 € per sq. metre.” A handsome apartment on Rue Edouard Herriot recently sold for 969,000 €. “Between the Quai de Rhône and Quai de Saône,” continues Hélène Mollière, “we are dealing with a market which is still on the rise, with few properties up for sale.” Self-employed professionals such as doctors and dentists, and other high-income families, tend to live here. The slopes of Croix-Rousse recall that, in the early 19th century, silk manufacturers (known as “canuts”) moved into this neighbourhood and the plateau above it (which in fact belongs to the 4th “arrondissement”). Here, streets known as “montées” start their climb from the Place des Terreaux to end on the plateau ; Montée de la Grand’Côte, Montée Saint-Sébastien, Montée des Carmélites. Close to all amenities, the metro, cafés and cafés-théâtres, this neighbourhood is very lively all day long and a good part of the night. It appeals to a chic, Bohemian clientele of middle and senior executives, self-employed professionals, as well as students. In old buildings offering the authenticity of exposed beams and stone, the price per sq. metre ranges from 3,600 to 3,800 €, with a spike of 4,000 € for properties with lifts. More classic apartments are also in steady demand. Recently, an example of 78 m2 in need of total restoration, in a “canut” on Place Morel, found a taker at 265,000 €. Its main asset was a magnificent view. Much scarcer, small town houses offer a certain charm which comes at a price : 4,000 to 4,500 €/m2. Equally rare and therefore highly-prized, a few apartments on the slopes, dating back to the 18th century, have been transformed into lofts. The many students in this neighbourhood often live in studios or apartments with 1 to 2 main rooms, acquired by their parents at prices ranging from 200,000 to 250,000 €. When their off-spring have completed their studies, and depending on their situations, these owners put them back on the market or rent them out. “We only handle rentals for our clients who enter into long-term property investments,” says Sophie Aknine of Akso Conseils. Attractively renovated, a studio can be leased for 600 € per month, a 1-bedroom apartment for 1,000 € and a 5-bedroom apartment of 200 m2 for close on 5,000 € per month. “Lots of executives who are transferred to Lyon by their firms start out by renting before acquiring a home,” adds Sophie Aknine. Because Lyon and its surrounding region provide a rich pool of jobs, both enticing and forward-looking. Foreigners are not investing here to any extent, which means that the region is protected from financial speculation. Another positive point for a market which is local but go-ahead.