The 6th “arrondissement”, the most select in Lyon

If it houses the “green lung” of the third largest city in France, ie. the Parc de la Tête d’Or, the 6th district also has the densest population, with 48,936 people in an area of 930 acres. Residential, commercial and fully equipped with infrastructures and leisure facilities, this “arrondissement” on the left bank has more than one string to its bow...

The Cité Internationale, Museum of Modern Art, Museum of Natural History, Palais des Congrès, casino, most of the consulates, renowned schools and colleges such as the Lycées du Parc and Edouard Herriot... Clearly, the 6th “arrondissement” of Lyon is an exclusive address, served by the Metro. Broad avenues lined with magnificent buildings, including Rue Abraham-Duquesne, the Boulevard des Belges and Avenue Foch, run alongside the open spaces of the Parc de la Tête d’Or, while shopping activity revolves around the Cours Vitton and Franklin Roosevelt, and the Avenue du Maréchal de Saxe.“Lyon in general and especially the 6th “arrondissement” have shown good resistance to the crisis,” says Laurence Rosier, head of transactions for Oralia Rosier Modica Motteroz SA. “First, because the prices in effect in the city are relatively reasonable. And, secondly, because the 6th district boasts countless qualities, starting with its 260 acres of gardens, the attractive banks of the Rhône and boulevards lined with lovely trees.” There’s no lack of trendy boutiques, nor good rest-aurants, such as L’Est, one of Paul Bocuse’s five “brasseries”, located in the old Brotteaux station. The Tête d’Or, the Cours Franklin Roosevelt and Vitton are popular among local notables, though inaccessible to first-time buyers. In the case of prestige properties, The sq. metre often exceeds 3,500 €, 4,000 € in the case of prestige properties, whereas in the Bellecombe neighbourhood, it usually hovers around 3,000 €. Then there’s a real shortage on the market : apartments of character with parquet floors, wood-panelling and fireplaces inflate demand. Laurence Rosier cites a 1-bedroom apartment of 45 m2, fully renovated, in a handsome old building, which recently sold for 210,000 €, and a 3-bedroom apartment of 128 m2 in a Haussmann building, for 540,000 €. Residences built in the 1960’s-1970’s cost around 3,500 €/m2, while contemporary addresses are often more expensive. As for the rare new developments, they are all snapped up even before construction begins.

“This neighbourhood, close to the Presqu’île, the Opera and the theatre, attracts young families drawn by the strategic location and the excellent reputation of the schools, as well as senior executives and professionals such as doctors and dentists, naturally attracted by the elegant address,” adds Anne Dervault of Orpi Sorovim. Properties around the “Golden Triangle” and the famous park can attain 5,000 €/m2, those in Les Brotteaux range from 3,500 to 4,000 €/m2, as compared with 3,000 €/m2, the rate observed in Bellecombe, slightly further out. The very demanding clientele is well-versed with the market. Most of them, ready to spend 450,000-650,000 €, are looking for 3-bedroom properties, aware that they will not necessarily get a garage and garden for that amount. The top end of the market, synonymous here with Haussmann architecture, ranges from 700,000 to 1.5 million euros. The town is witnessing a return towards the urban centre and general enhancement of apartments. The 6th “arrondissement” is the most expensive in Lyon and one of the most active, in direct competition with an enclave within the 2nd “arrondissement”, La Croix-Rousse and the 3e Préfecture.

“The beginning of 2010 saw a revival in activity in the most fashionable districts of Lyon. Today, demand outstrips supply in the 6th “arrondissement”, which explains the stable prices, a trend observed even at the market’s lowest ebb,” comments Bruno Tronel of the Agence Tronel Orpi. Roosevelt and Foch, ie. a 300 metre radius around the Metro station, are very highly sought-after. The same goes for mansions overlooking the Parc de la Tête d’Or, pegged at 5,500 to 6,000 €/m2, exceptional properties that account for a very limited number of transactions. This FNAIM expert mentions an example of 184 m2 in perfect condition with a parking space, on Les Enfants du Rhône, recently sold at 5,400 €/m2. Parking is, in fact, the neighbourhood’s most serious problem. Once a car-park opens, the whole area begins to attract interest. Brosset, scheduled to open in 2012, should bring some relief to the Boulevard des Brotteaux, a main road lined with busy restaurants. The 6th “arrondissement” is thus considered a very sound investment, so much so that it attracts 20 % of investors despite the high prices and low rental yield. This type of buyer invests from 150,000 to 200,000 € in either old or new properties, confident of obtaining a profit in the long run.