The magnetism of Nantes

The capital of the Loire-Atlantique has won its spurs to the extent of becoming the leading economic hub in France’s “Grand Ouest”. 590,000 people live in the metropolitan area, 290,000 in the city itself, including 51,000 students. Since 1990, Nantes has chalked up one of the most impressive growth rates in the country. Reasons and examples of its success…

Every year, 3,500 people elect domicile in one of the 24 entities comprising the greater urban area of Nantes. Situated in the northern part of Brittany, the prefecture of “département 44” has pulled out all the stops in order to attract companies, the real drivers behind its development. Since its constitution, Nantes Métropole “has assisted 540 enterprises to settle in the area, leading to the creation of 14,500 jobs”. In less than a decade, 60,000 jobs mushroomed in fields as diverse as IT, biotechnologies, finance, mechanical engineering, the aeronautical sector and the agri-food industry. Four “pôles de compétitivité” are important centres on the business scene : EMC2, Atlantic Biothérapies, Génie Civil Eco-construction and Images & Réseaux. The boom in the service sector at the heart of the urban area can also be applauded. Lastly, one can hardly ignore the geographic and strategic position of this City of Art and History, standing on both a river and the ocean: at the meeting-point of the Loire, Erdre and Sèvre Rivers, 55 km from the Atlantic. Occupying over 16,300 acres of land, its territory boasts 2,717 acres of gardens and other natural areas.

The Cabinet Saint-Pasquier Pichelin-de Narp specializes in the intra-boulevard area, middle to top-of-the-range, criteria which leave little room for first-time buyers or rental investors. “In the first half of the year, almost 50 % of our clients came from outside the region,” says Guillaume Pichelin. “People transferred here for work account for a large part of the clientele.” Most transactions range from 500,000 to 700,000 €, a price-bracket corresponding to an apartment of 130-200 m2 in good condition, in the old town centre , or a house of 120-200 m2 prolonged by an outdoor area of 200-300 m2, in a quiet neighbourhood within the intra-boulevard area. Properties in correct condition sell easily and quickly. Demand is steady and the stock of available properties limited, with high prices which never fail to surprise new arrivals. This success is backed up by the virtual absence of homes large enough for families on the rental market. Up-coming construction of the airport should enable the western region to become more international. Renovation of the railway station is also in the pipeline. The quality of cultural and leisure amenities, proximity to the ocean and the 2 hours required to reach Paris are all arguments working in favour of Nantes.

Boissonnet Conseil Placement Immobilier is located on Quai Henri-Barbusse on the banks of the Erdre. “70 % of our clients are from within the region, already owners wanting better or larger homes, or even to take advantage of the springboard to move to a prime location,” explain Anne Monterrubio and Jeannine Boissonnet. All their clients are extremely cautious and only go ahead with an acquisition after selling their properties. They tend to like Le Rond-Point de Rennes, known for its easy access, schools and attractive shops. Others prefer Saint-Félix, more in the direction of the town centre, the banks of the Erdre laid out for pleasant walks, and the magnificent views offered by the river. Currently, a property in the hyper-centre without any noise or disturbance, with parking facilities, elevator and a terrace, sells like hot cakes, just like highly-prized penthouses. Among their most recent sales, our estate-agents mention a renovated residence of 180 m2 with a walled garden, light and sunny, for 600,000 €, and a top-floor apartment of 100 m2 offering a terrace of 40 m2 and double garage, in a luxury residence, at 450,000 €. Finally, 1-bedroom apartments with parking places in very convenient locations near public transport, benefitting from the comfort of recent developments and priced between 150,000 and 200,000 €, are highly sought-after by older clients looking forward to retirement.

Christine Rivière of the Cabinet Besnier-Rivière Immobilier on Boulevard Guist’hau covers the prestige sector with classic or contemporary appointments in the centre of Nantes and its surrounding region, and also in La Baule. She has noticed the beginning of a readjustment in prices posted for the top end of the market, that’s to say, properties from 800,000 €, making for an ideal equation between demand and supply. Recently, an outstanding apartment of 115 m2 with a terrace of 120 m2 and a private pool open to the sky changed hands at 735,000 €, without any bargaining. Likewise, a Haussmann apartment of 200 m2 in the “Golden Triangle” left her files at 729,000 €. Houses suffer more from rarity, especially over towards Monselet, where one finds the loveliest old examples offered by the capital of Loire-Atlantique. A private mansion of 280 m2 built in the early 20th century, with outbuildings and a garden of 1,400 m2, was snapped up by a client prepared to pay 1.3 million euros without any retraction conditions. At a time when we are seeing a return to drastic conditions applied by the banks for mortgages, buyers who can pay cash reassure the sellers. Despite the scarcity of stocks, this is a good time to buy, given that interest rates are still low.

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