The very select Aix-en-Provence
This town of fountains and art is, in fact, one of France’s most well-known communes after Paris and Cannes. Laying claim to a territory of 45,950 acres with over 137,000 residents, this town founded in 122 B.C is a highly coveted address…
The sea and mountains are nearby, just like the TGV station and international Marseille Marignane Airport. By train, Lyon is 1 hr 30 minutes away, Paris 2 hrs 50. Also easily accessible by road, the capital of Green Provence, in the shadow of the Sainte-Victoire mountain, is surrounded by countryside and authentic villages. An esteemed hub for culture, Aix boasts many other capacities, from its university to the judiciary. Ultra-dynamic, this town in the Bouches-du-Rhône plays host to several centres of competitivity, all assets drawing students and foreign visitors, retirees and the actively employed. Who also appreciate its picture-postcard landscapes, immortalized by Paul Cézanne.
Focusing on the top end of the market, Nicolas Ginon of the Emile Garcin agency explains straight away that properties of quality are scarce in the town centre. A property which has been fairly estimated will immediately find a taker, and one can expect to pay 1 to 1.1 M € for a renovated apartment of 200 m2. In need of restoration, an apartment benefiting from a terrace, a rare and highly prized commodity, will fetch 4,500-5,000 € per sq. metre. Mostly French and especially Parisian, and European, particularly Belgian and Swiss, the clientele has a fondness for old stone at the heart of the historic heart of Aix. Houses are also in high demand. Le Tholonet, Les Pinchinats, Celony and Puyricard still offer wide appeal. In these sectors, a Provençal property of 250 m2 in grounds of 4,000 m2 will sell for around 1.2 M €. In growing demand, a contemporary residence of 300 m2, for example, in grounds of 5,000 m2 will cost 1.5 M €. Interest is on-going. The difficulty lies in finding a balance between supply and demand. Awareness on the part of owners of real market values and their decline over the past five years is an essential condition for a smooth flow of transactions. International clients are still looking for vineyard estates north of Aix. These wine-buffs treat themselves to lovely buildings bearing witness to bygone years, together with a functioning activity. For living space of 300-400 m2 on about 25-37 acres of vines, the going price is somewhere between 3 and 4 M €.
Specializing in property sales, Hélène Le Corre, director of the Immobilier & Financement agency, has a wide array of properties in her portfolio, in Aix-en-Provence and its surrounding region. Ranging from studios to châteaux, prices soar from 127,000 € to several million euros. “We work with a French clientele (mainly from Paris), but also international buyers. We recently organized visits of properties for clients from Prague, Germany and Italy.” Out of ten so-called “prestige” transactions, eight involve buyers from Paris (or northern France), the other two involving foreign clients. They are all especially keen on the Mazarin and Cours Mirabeau neighbourhood, where prices range from 6,000 to 10,000 € per sqm. Town houses with gardens are seen as rare gems. In fact, Aix-en-Provence is faced by pressure from strong population growth, with buyers attracted by the quality of life in this cultural centre with an idyllic climate, less than three hours from Paris. On the other hand, the town sees low mobility : unless obliged to move due to radical life changes, divorce or inheritance, owners are deeply attached to their homes. Scarcity thus exists in terms of both quantity and quality, a phenomenon finally similar to that observed in the French capital.
“The centre of Aix posts prices per sq. metre ranging from 3,800 to 9,000 €, with properties of quality starting from 5,000 € per sqm” says Valentin Huc-Debat of the Agence d’Aix-en-Provence. “There is high demand for recent apartments with modern amenities in the town centre (lifts, terraces and garages - the latter a rare asset).” Old buildings do not offer these facilities. Top-floor apartments may benefit from terraces and those at garden level may offer an outdoor area, a courtyard or leafy garden, failing a parking place or lift. In any event, the typical charm of these apartments, especially in the Mazarin neighbourhood, always casts its spell over a certain clientele. Currently, less than a handful of private mansions are available in their entirety, priced from 3 M €. Popular for their practicality and low maintenance, town houses avoid the inconveniences of co-owned residences. They are to be be found in the neighbourhoods of La Violette, Saint-Jérôme, Le Pigonnet and Le Pavillon Vendôme. A 10-minute walk to the centre, their prices start from 700,000 € if restoration is required, around 1.5 M € when in perfect condition. One often hears about Parisian and foreign buyers, though there are also local company directors and young executives returning from careers abroad. Judging by their profiles, the town enjoys a good reputation at both national and international level, partly explained by its excellent cultural policy. Some of these clients have no family ties with Aix or its region, yet choose the town as their home address. Small and medium-sized surface areas still attract the interest of investors, whether they opt for a holiday pied-à-terre or a property to rent out on a seasonal or long-term basis.
