Villeurbanne, more than just an alternative to Lyon

Bordering on Lyon, this commune with 141,120 residents benefits from good public transport, including the metro and tramway. It lies east of the Parc de la Tête d’Or, a leafy area of about 288 acres, joined by the 99 acres of La Feyssine, north of the campus of La Doua. In Villeurbanne, the second largest town in the “département”, 93 % of the inhabitants live in apartment buildings.

Villeurbanne is made up of three main areas : north of the Cours Emile-Zola, one finds the neighbourhoods of Charpennes, Tonkin, Croix-Luizet, Buers, Cusset and La Doua ; to the south, Dedieu, Gratte-Ciel, Perralière, Charmettes, Ferrandière, Maisons-Neuves and Grandclément ; finally, east of the Boulevard de Lyon, Saint-Jean, Laurent-Bonnevay, Bel-Air, Cyprian and Les Brosses. 19 % of the residents work in industry, 6 % in construction and 74 % in the service sector. The commune hosts a branch of the Chamber of Commerce and Industry, an institute of contemporary art, a metropolitan centre of the urban arts and several sports facilities. Le Rize, which opened its doors in 2008, houses 2,660 m2 of municipal archives as well as a mediatheque, cultural and learning facilities.*

“Villeurbanne certainly benefits from the dynamism of Lyon,” says Maxime Caminale of Laforêt Immobilier. “It is in fact considered as the 10th “arrondissement” of the prefecture of “département 69”, a natural extension uninterrupted in terms of either scenery or amenities. The only difference, which is, of course, a bonus lies in its prices, more affordable overall.” The commune is popular among families acquiring their first homes, appreciative of the schools, squares and public parks. It also provides solutions for those wanting more extensive living space, without the means of living in Lyon. A 2-bedroom apartment in the capital of the Rhône-Alpes costs as much as a 3-bedroom apartment in Villeurbanne. The site also offers suburban estates : Château-Gaillard and part of Cusset. Maxime Caminale mentions the recent sale of a house of 105 m2 in good condition, with a garden of 300 m2. Fairly valued, properties sell quickly and sometimes benefit from possibilities for extension. Apartments come in a very wide range of prices, from 1,500 to 3,500 € per sq. metre. The lower end applies to neighbourhoods on the far side of the “périphérique”, though the trend is tending to reverse in Laurent-Bonnevay and Carré de Soie, where the availability of building land offers good development potential. The top end concerns recent residences bordering on the 3rd and 6th “arrondissements” of Lyon, Charpennes, République and certain enclaves of Gratte-Ciel, the real heart of Villeurbanne. Cusset and Flachet offer good value for money : prices 10 % cheaper than in Charpennes, for equivalent accommodation. The last ten transactions handled by the agency ranged from 155,000 to 355,000 €, with a rough average of 180,000 €.

“The town still has buildings awaiting restoration, warehouses and workshops,” notes Jean-Paul Veloso of the Akerys agency. “Right now, one client, attracted by both the central location and the idea of an original property, is investing 600,000 € in ground-floor premises of 200 m2 which come with a vaulted cellar of 60 m2 and an inner courtyard of 100 m2. The ceilings are 4.5 metres high, so the surface area could in fact be doubled.” A transaction proving that high-quality properties have a future in Villeurbanne. It would, in fact, be a mistake and a generalization to see the address solely as a fall-back market for Lyon. Our estate-agent also points to a growing number of owners wanting to sell land to developers, now focusing more on main homes than properties offering tax relief. 70 % of Akerys’ clients are, however, looking for rental investments, a rate explained by the agency’s specific vocation. It proposes an array of apartments from 20 to 45 m2, between 80,000 and 130,000 €, likely to suit students or businessmen making regular visits to the region. Gross return ranges from 5 to 7 %, as exemplified by a studio of 17 m2, sold leased at 450 €/month plus charges. * Source : Wikipedia