Great Real Estate Abroad Report

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Vol II     Issue 10                   March 14, 2009

 

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Real Estate in Cosmopolitan French City Average $235 USD per Sq. Ft.

Lyon, France

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Foodies Flock to Tasty Lyon, France for its Delicious Cuisine and High Quality of Life

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Beautiful Lyon, France (population 3 million in the metro area) is about 2 hours south of Paris and is the country's second largest metropolis.  It is a quintessential French city and home to more than 1,000 restaurants, many quite exclusive, and it attracts food lovers from around the world.  Expat retirees are also starting to discover this tasty destination, drawn not only for the cuisine but for the lovely landscaping, the pastel facades of the classic buildings and the not completely out-of-reach real estate.

 

Lyon is located at the confluence of two of France's greatest rivers, the Rhône and the Saône, and typical tourism is not as felt here as in other French cities.  When it comes to housing, rentals and stand alone homes are available.  Considering the size and sophistication of Lyon,  rental prices are very competitive when compared with other European cities.  An unfurnished two bedroom apartment averages $975 per month (€750 per month), excluding utilities.   When it comes to buying real estate, pre-owned single family homes average $235 per square foot (€180 per square foot), and new homes average $295 per square foot (€226 per square foot).  An average 1,200 square foot home would cost $282,000 USD to $354,000 USD.

 

Keep in mind that nearly 70% of real estate transactions in France are conducted without realtors.  Negotiations take place between the buyer and seller, each with a notaire, a public official who oversees contract executions.  As a foreigner, it is also a good idea to have an avocat (a lawyer), someone that understands property law and speaks French, on your side.

According to the French newsmagazine Le Point, on a list of France's 100 biggest towns and cities, Lyon has the best quality of life.  This is due in part to its low crime rate, efficient and extensive public transportation (4 metro lines and 100 bus lines) and overall cleanliness (in fact, Lyon spends more on sanitation than any other large French city (certainly more than Paris).  Of course the bistros, open air cafes and two and three star gourmet restaurants, add to the rich fabric of life.   

In addition to its gastronomic delights, residents enjoy a rich cultural scene with such venues as the Lyon National Orchestra, the Fine Arts Museum and the Opera House staging exquisite performances throughout the year.   For outdoor pursuits, the world’s largest ski area, the Alps, is 90 minutes away, as is the Mediterranean Sea.  Other weekend getaway spots such as the Provence, Ardèche, Drôme, Beaujolais, Burgundy, Jura and Dombes regions are only an hour or two away by car.

The Festival of Lights illuminates the city every December, and in the springtime, the Festival des Nuits Sonores (Musical Nights Festival) has Lyon dancing to the sounds of the latest electronic music. In the summer, the Vienne Jazz Festival and the Nuits de Fourvière (Fourvière Nights) give a foretaste of the upcoming vacation period.  

When searching on Google or Yahoo for property in Lyon, use the keyword phrase "lyon rhone france real estate" or "lyon france homes for sale."


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