IL Postcard

The French City That Has It All: Culture, Mountains, Fine Dining, and Cheap Property

Date: 11/21/2008 Author: Leigh Fergus

Friday, Nov. 21, 2008
Lyon, France

Read more about France in International Living Postcards—your daily escape

Dear International Living Reader,

Take a fast train south from Paris and in less than two hours you’ll emerge in the bright sunshine of France’s third largest city—and the country’s gourmet heart. If you live here, you’ll have a pick of more than 1,000 restaurants—some Michelin star gems. And the Beaujolais-Villages wine region is just 20 minutes away by car.

But this city doesn’t just attract foodies. A large number of expats have chosen to retire here and have set up support groups; major companies are based in the leading high-tech zone here, and more French out-of-towners want to enjoy the city’s high quality of life—and the low property prices.

I’m talking about Lyon.

It’s a perfect French city. Clean and smoothly run for working as well as living, with car-free streets in the old center, business-friendly zones on the outskirts, and an active cultural program—movie buffs will love the choice of more than 100 screens. This is the home of the movie, by the way, where the Lumiere brothers shot the first movie in 1895. Winter sports in the Alps are within a 100-minute drive, and both Paris and the Med are just a short train ride away.

Plus, it’s simply beautiful here. Take a stroll along the tidy banks of the Saône or the Rhône—yes, the city straddles two major rivers—cycle past the pastel and ochre facades of the classic buildings on your rented bike, explore the old silk workers’ maze of secret passages in the Croix Rousse, or admire the oak-beamed houses in the old town, and you’ll see what I mean.

It’s no surprise that Lyon won one of the Livable Community awards last year, judged on the city’s environmental practices, landscaping, healthy lifestyles, and planning for the future.

Sound too good to be true? There’s more.

You won’t need more than €44,000 ($55,000) to get a foothold in this city’s property market—that’s the price of an attic to restore in the sought-after 8th arrondissement through Agence du Grand Lyon—Lyon has nine arrondissements, compared with Paris’ 20, and prices here are roughly a third what you’d pay in the capital.

Property in the historic center and traditional bourgeois districts, especially the 2nd, 4th, and 6th, are holding their value, with prices per square meter ranging from €2,500 ($3,100) to €4,500 ($5,600). (For a central bolt hole in Paris, you’d be lucky to pay €6,500 ($8,100) a square meter.)

I found compact student apartments for €45,000 ($56,000) and studios from €60,000 ($75,000). With three universities and several engineering schools here, these types of property are much in demand—rents range from €330 ($413) to €550 ($689) per month. A 645-square-foot apartment needing some refurbishing in the residential area of the 8th is being sold for €98,000 ($123,000) through Millet Immobilier, but in the same price range, I’d prefer something with more of a history behind it.

You can get a typical silk worker’s apartment on the Croix Rousse hill with original exposed beam ceiling and balcony for €85,000 ($106,000) through Quadral. And if you don’t mind a bit of work, how about this 19th-century apartment to fix up, with an unspoiled view of the Saône? It comes with a cellar and shared garden and a price tag of €99,000 ($124000) through Onil Transactions.

And how can you resist a district call My Pleasure—Monplaisir—in the 8th? With its three weekly markets, a brand-new well-stocked mediatheque, and great transport links, you can find modern two-bedroom properties here from €115,000 ($144,000). My favorite was a 753-square-foot home in an Art Deco building with moldings and marble fireplace for €156,000 ($196,000) through Square Habitat.

This is a city that has it all; even the motorists stop to let you cross the street, something that would never happen in Paris…

Leigh Fergus
Europe Editor, International Living

Editor’s Note: Whether you dream of a city pied-a-terre...or a rambling farmhouse among the sunflowers...or a village house wrapped in wisteria-hung memories of long ago, France is more than affordable. In fact, there are many parts of the country where habitable homes in storybook settings cost less than $100,000. We know, because we found them. Lots of them. Even today, we’re finding $21,500 price tags. And yes, that’s for a countryside property, not a case of vintage Champagne! For everything you need to know about France, every hidden corner and property bargain you can imagine, find out more here.

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