Lyon’s prestige property market as seen by Centralym
A market seeing extensive development, clearly on an up-swing, especially in the case of desirable addresses… In the early months of 2018, Lyon has underpinned its position as one of France’s most attractive cities. Update with Cécile de Jouffrey, manageress of the Centralym agency specializing in high-end real estate in metropolitan Lyon.
Chalking up strong growth since 2016, this city on two hills is looking good and drawing an ever-growing number of buyers. Prices have naturally risen significantly, as explained by Cécile de Jouffrey : “The market in general has seen a substantial rise. Soaring prices are particularly noticeable in the city’s highly-prized neighbourhoods, such as the 2nd arrondissement around Bellecour, and the 6th arrondissement. For a property in need of renovation in a high-end residence, one can now expect to pay from 5,500 to 6,000 € per sq. metre. As for apartments which have already been renovated, they fetch close on 7,000 € per sq.m. When prices are in tune with the market, sales go through very quickly, with some properties snapped up within one week. We recently sold an apartment of 270 m2 to renovate at 6 avenue Foch in Lyon, priced at 1.5 million euros. We also sold a contemporary house on the edge of the 4th arrondissement, offering a panoramic view of the city, priced at 2,445,000 €”. How does Cécile de Jouffrey see the market evolving over the coming months ? “The only downside is that we are now faced by a scarcity of properties of quality, at a time when demand is so strong. Prices are rising but are very uneven. What is sought-after, and paid for top-dollar, is beautiful architecture and a view. Lyon is an increasingly attractive city, boosted by local and other French clients with high purchasing power.”
Centralym, 36 rue des Aqueducs, Lyon 5 (04 37 41 10 20) www.centralym.com
