Lyon
With an office situated in the heart of Lyon, Berthier & Associés are expertly positioned to offer a full range of valuation services across the city and the surrounding area. This includes all asset types, whether that be residential, commercial, hospitality and for diverse purposes including secured lending, tax issues, family law or eviction compensation.
Berthier & Associés are renowned for their professionalism, rigour and dedication to serve their client’s requirements. This reputation has been built in Lyon in no small part thanks to a team of committed and competent professional valuers whose output always adheres to the highest quality. Whether you are an individual, a professional or representing a business, Berthier & Associés has the experience and expertise to meet your specific real estate valuation needs. For an English-speaking introduction to the valuation services offered by Berthier & Associés, contact Samuel Thompson at [email protected] or telephone +44 7933 239126 / +33 07 45 55 81 46 or via our contact form.
The Attraction
Economy
Outside of Paris, Lyon is widely considered by investors as the most attractive city for international investors in France. Accordingly, it is the France’s second economic centre and sits in fourth position throughout Europe in terms of GDP. Lyon’s major industries span banking, finance, retail, technologies and pharmaceuticals.
Lyon is also a diverse city demographically, comprising a mixture of ethnicities and a young average population. As an illustration, the percentage of citizens under the age of 30 is over 41%, compared to the national average of 35%.
Heritage & Architecture
Since 1998, the four historical neighbourhoods of Lyon, encompassing 500 hectares, have been recognised by UNESCO as a World Heritage Centre. One of the most emblematic buildings in this locality is the neogothic basilica Notre Dame de Fourvière which overlooks the city from the hilltop above the banks of the Saone River.
Lyon is also reputed for its unique architectural appeal. As an illustration, in the old town, ‘Vieux-Lyon’, there are examples of many architectural styles stemming from the Carolingian era until the end of the 18th century. On the other hand, there are equally impressive buildings present in the Presqu’ile area from more recent times, dating from the 18th, 19th and 20th centuries.
Culture & Lifestyle
The Lyonnais cuisine is celebrated worldwide, and for due cause. The surrounding region is a fertile ground for excellent produce, and this is proudly served within the renowned ‘bouchons’. These restaurants bring together the vision of Lyon’s cuisine, striving to provide quality services while respecting Lyon’s culinary tradition. In addition to its excellent food scene there is a vibrant cultural life, with many museums, art galleries, theatres, and music venues.
Key Valuation Considerations
In light of its international appeal, the property market in Lyon has seen consistent growth over recent years. Residential prices however remain more affordable than Paris, with property in the most popular arrondissements typically priced at a third less than equivalent offerings in the capital. Here are some of the key factors influencing the pricing of property in this prised location.
Situation
Lyon is comprised of 9 Arrondissements, each with its unique character. The 2nd and 6th boast the highest average values, with the 8th and 9th at the opposite end of the pricing scale. The 2nd stretches from the Presqu’ile towards the vibrant Confluences areas where the Rhone and Saone rivers meet. Significantly, this comprises major shopping districts, renowned restaurants, theatres and diverse architectural styles. Likewise, the 6th is an affluent mostly residential area to the north east of the centre, including the Tête d’Or park (Europe’s largest central park) and situated in close proximity to the main rail station at Part Dieu. Conversely, the 8th and 9th arrondissements are located to the north west and south east extremities respectively of the city limits, with fewer direct transport links and services.
Proximity to Services and Facilities
With a growing international influence, access to transportation links is frequently desired whether via road, rail, or air. Properties values will often benefit from near proximity to services such as high-end shopping, restaurants and nightlife.
Architecture & Building Condition
The general condition of the building is always an important consideration when determining its value, as well as its architectural merits in accordance with current trends. Generally, properties equipped with modern facilities and technology are highly desired, especially those employing green technologies to minimise their environmental impact.
In recent years, a greater value has been placed on outdoor space as more people find themselves spending more time at home since the pandemic. Consequently, larger apartments with terraces or balconies are increasingly sought-after, and demand for pieds-à-terre has increased from those seeking a secondary property to their primary residence outside of the city.
Market Conditions
The property market in Lyon is strongly linked to the overall health and security of the country’s economy. Broader international factors are also playing an increasingly significant role as its appeal to overseas investors continues to grow.
Nevertheless, Lyon has for a long time been a strong performer economically, supported by its key industries. Consequentially the local economy has frequently grown at a slightly faster rate than the country’s national average. The combination of this robust economic performance and cultural vitality has made Lyon a popular choice for investors both domestically and internationally.