Aix : enviable properties
Nothing seems to halt enthusiasm for this city...
Nothing seems to halt enthusiasm for this city. Locals, students, retirees and foreigners all take Aix’s property market by storm. Reasons for living here are not lacking : only living space is sorely missing…
“At international level, Aix-en-Provence is the third best-known city in France after Paris and Cannes,” observes Didier Cassin of the Pelletier Savon estate agency. It owes its popularity to its geographic position, not far from the sea, near the mountains and, above all, a short drive to the busy airport of Marseille Marignane. It also benefits from a very practical TGV train station : it now only takes 1 hr 30 to reach Lyon by train, 2 hrs 50 to the capital. Motorways encircle the city, making it easily accessible, but it’s also surrounded by countryside, typical villages and sumptuous scenery such as that near the Sainte-Victoire mountain. Its architectural heritage, its history as a university, cultural and judicial centre, and its economic dynamism complete the picture. The town that saw its image consecrated as a bastion of the arts, as a result of the Cézanne exhibition, plays host to a music festival and, since the past few weeks, the Ballet Preljocaj. Activity centres such as ITER at Cadarache and Europcopter at Marignane contribute a different, but just as lively, aspect of inland Provence.
A decisive factor in a property’s value, the ability to walk everywhere perfectly characterizes the town of Aix, which has managed to retain its human scale. The centre is mainly comprised of apartments and town houses, rarely up for sale. The massive presence of students has long governed a market focussing on small living units. Apartments of over 120 m2, highly prized by an older and wealthy clientele, are cruelly lacking.
“In the historic centre, prices range from 4,500 to 6,000 €/m2. As for houses, they rise in value all the time,” says this estate agent, to be found between La Rotonde and the Cours Mirabeau. The market for renovation belongs to the past. There are fewer and fewer opportunities, with prices almost attaining those of properties already restored. The managers of the John Taylor agency confirm that it’s precisely in the town centre that one finds “fine Aixois properties”. A private mansion on the Cours Mirabeau may comprise up to 1,000 m2 on three floors. A commodity negotiated at around 6,000 €/m2 versus 3,900-4,500 €/m2 for a classic house. One also comes across a few lofts, popular with Parisians, the English and Irish. More and more frequently, Madame and the children live in Aix, Monsieur goes back and forth on business. In contrast to the above-mentioned area, the Mazarin neighbourhood has maintained an exclusively local population. Aix-born residents live here, mostly self-employed professionals who spend the same sums of money on high-quality properties. It’s worth noting, however, the lack of room to manoeuver in mansions that are listed here as historic monuments.
“Faced by an ever-growing population,” explains Didier Cassin, “Aix spills over its city limits to encompass a radius of 10 km”. Its market thus includes the villages of Luynes and Cabriès to the south, Le Tholonet to the east, Eguilles, Venelles and Puyricard to the north. A house of 150 to 250 m2 here costs from 600,000 to 1 million €. Ten km further out, properties go from 2,500 m2 to 2.5 acres with homes of over 250 m2. A view and tranquillity satisfy aficionados. The only fly in the ointment is difficult access to Aix in the rush hours. Really fine homes sell for 2 to 3 million €, outstanding properties 5 to 7 million €. Over the past eight years, prices have risen 100 %. And building land hasn’t escaped the overall trend. Prices start at 350,000 € for a building plot, but expect to pay 1 million € for land offering a scenic view, peace and quiet, dense vegetation and constructibility of 300-400 m2. “The communes mentioned above, plus Fuveau to the south, Rognes to the north, and even those dotted along the wine road, boast some fine buildings,” say the John Taylor team. Fully renovated farms, “mas” and 17th-century country houses share the limelight with properties whose existence often goes unsuspected, like a hunting lodge. “When you leave the town centre behind, one of the advantages is avoiding the parking problem, a real dilemma. In town, a lock-up garage costs 20,000 to 50,000 €.” The top end of the market isn’t affected by crises. Very evident in Aix, 50 % of this sector concerns foreigners. The idea of transmission is important : one is not simply acquiring a few square metres, one is adopting a history, a culture. Over the short term, Aix will perhaps have to compete with the rising popularity of the great south-west (Languedoc-Roussillon, Le Lot, Le Gers, La Gironde), though its position is comforted by its existing assets. According to Didier Cassin, the market, all segments included, is active, though new offerings are occasionally thin on the ground. Not sure that they will be able to find accommodation to their taste, sellers take a long time to make up their minds. The conclusion of a transaction is estimated to be three months for an apartment, six to nine months for a house. Only the low end of the market, with a starting price of 2,800 €/m2, is struggling. The choice here is wide, transactions take longer and negotiations are tougher. When the upward trend seems to have peaked, some properties, quiet, functional and full of charm, continue to rise. Local and regional residents, the French and international clients all acclaim the town of Aix. The typical client is about 50 years old, has a budget ranging from 400,000 to 1 million € and succeeds in financing part or all of his acquisition by selling an initial property. Local companies find it hard to accommodate their employees. To alleviate the problem, urban policy tends to make land on neighbouring communes available.
At present, the stock of new properties is close to zero. Prices range from 4,000 to 10,000 €/m2. The latter figure would bring a large surface area with a terrace at the heart of town. Developers also provide houses of 180 m2 with grounds of 1,000 m2 at 900,000 €. Also sold on plans, the town’s few rehabilitation operations post prices between 4,000 and 6,500 €/m2.
By Laetitia Rossi - photos : press
