Town houses in Montpellier

Thanks to a steady rise in its population, year-round economic and cultural attractions, and a unanimously acclaimed life-style of genuine quality, the capital of L’Hérault has shown particular resilience to the crisis. Like high-class apartments, town houses represent a buoyant market.

The segment benefits from two major trends : the traditional preference on the part of the French for individual houses, and a general desire to limit the use of cars because of cost, time and environmental issues. “The town centre offers old mansions, though they’re scarce on the ground when it comes to entire buildings. Nowadays, the municipality exercises its pre-emptive right in order to accommodate its offices or provide council housing,” says Lionel Gouveia of the Immobis agency. Houses of 100-150 m2, several centuries old, are dotted around Cathédrale, Boutonnet and even Figuerolles. In need of renovation, they cost 150,000 to 300,000 €, once refurbished from 300,000 to 500,000 €. Between Arceaux and Figuerolles one comes across the first substantial residences, built of stone in the 18th and 19th centuries, boasting living space of 200-400 m2 and opening out to lovely gardens. The scale of the renovation work required puts off certain clients, though demand remains steady. Rare, this type of product is also too burdensome. A private mansion of 250 m2 in good condition, benefitting from a garden of the same size, is currently pegged at 1 million euros, within an overall range of 700,000 to 1.3 mil-lion euros. To the south, around Port-Marianne and Richter, old farm buildings, now priced from 500,000 to over 1 million euros, have escaped the recent construction of new apartment buildings. An example of this kind, offering renovated living space of 300 m2 in grounds of 3,000 m2 with swimming pool, costs 780,000 €. Generous grounds often compensate for too close neighbours. Offerings and prices at Millénaire, a fast-growing area known for its activity zones, are comparable. The northern part of Montpellier proves that surface areas become larger as one moves further away from the centre. Small “pavillons” range from 250,000 to 450,000 €, enviable residences from 800,000 to 1 million euros. Michel Audigier of Cap Immo Languedoc points to Le Rondelet and Saint-Roch, a 5-minute walk from the Place de la Comédie, not far from tramline 2. Proximity shops, an intermediate school and the Clemenceau secondary school comprise their main assets. One would currently need 420,000 € to acquire a house of 180 m2, built in the 19th century and in need of a lick of paint, with a courtyard of 15 m2 and a terrace of 20 m2. Near Le Corum, the very luxuriant estate of Les Aubes proposes a wide choice of houses comprising 90 % of the park. Living space of 170 m2 with a pleasant garden of 400 m2 can currently be acquired for 580,000 €.

The trend to return to town centres guarantees a new lease of life for “intra-muros” houses, inevitably at the expense of villages within the greater urban area.

“Some properties have been acquired by British clients wanting to benefit from a pied-à-terre in the South of France, but most transactions concern local residents looking for year-round homes,” adds Lionel Gouveia. Near the heart of town, schools and amenities, Les Beaux-Arts and Boutonnet appeal to 30 and 40 year-olds with child-ren, teachers or executives aiming for convenience. Arceaux attracts a middle-class clientele, between 50 and 60 years old, self-employed, civil servants or shop-owners fond of buildings with character. To the south, buyers are more cosmopolitan. The only common denominator is easy access to the airport and motorway.

“Despite the crisis, stocks of town houses are not being rebuilt and prices remain steady. Unlike old and ultra-modern properties, only villas built from 1960 to 1980 have seen a drop of 5 to 15 %,” says Philippe Devier of Devier Immobilier. Buyers’ budgets range from 350,000 to 1 million euros. Among his recent sales, he mentions a mansion of 300 m2 with a garden and garage near the railway station, sold for 880,000 €, a house of 90 m2 in excellent condition, prolonged by a garden of 100 m2, not far from Polygone, at 350,000 €, and a villa of 140 m2 plus an independent studio, in grounds of 1,000 m2 towards Aiguelongue, at 500,000 €. Since the beginning of the year, the slowdown has persisted solely at the upper end of the market. Large surface areas regularly fall into the lap of by professional realtors who sell them off in smaller lots, as private individuals simply cannot afford them.

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