The Midi-Pyrénées is a region of contrasts: on the one hand the urban sophistication of Toulouse, on the other the rugged rural scenery of the Pyrenean slopes; or the sheer modernity of Toulouse’s thriving technology industry compared with the ancient cave paintings preserved in sites across the Pyrénées, most notably at Niaux and Gargas.
Property prices also vary hugely throughout the region. Haute-Garonne is the priciest department, where Toulouse unsurprisingly tops the table at €2,572 per square metre.
Toulouse is a young and vibrant city, with a strong economy, thanks to its aerospace industry, among others. In fact, its economy is so strong that it is the only large city in France to ever achieve solvency and has therefore been able to reduce the burden of taxation for its citizens – indeed Toulouse’s equivalent of council tax is one of the lowest in Europe.
This is all the more impressive given the development projects the city has managed to complete over recent years. Its transport system is exemplary, with a second metro line inaugurated just a few years ago, and underground parking in the city centre has helped to solve the shortage of parking spaces and ease congestion. A tramway is due for completion during 2010 and, presumably, houses along the planned route will see a substantial increase in value on completion.
Toulouse’s vast student population helps to keep the city young and sports teams thrive, with rugby, football and basketball teams all playing at national level.
The city is architecturally spectacular, and is nicknamed ‘the pink city’ because its redbrick buildings glow pink when viewed from a distance, especially at sunset. Just outside the city, Muret is a cheaper alternative, with property prices dropping to €2,024 per square metre here.
A slippery slope
To the west, the Haute- Pyrénées department is popular for its many skistations. Considerably less developed and less well known than their Alpine cousins, the Pyrenean ski stations offer better value for money – with new houses averaging out at just €1,410 per square metre, and apartments selling for €1,821 per square metre.
The small Tarbes airport has the capacity to handle large aircraft, but at present it doesn’t offer flights to the UK. Investors should not rule out the possibility of a future link up with budget airlines as those priced out of the Alpine resorts look to the Pyrénées to offer a better value alternative.
Ski resorts here have the added attraction of the many natural spa towns nestled in the mountains, such as Bagnères-de-Bigorre, where property prices hit €1,484 per square metre. The TGV links at Tarbes and Lourdes offer a quick route to Paris, perfect for the eco-traveller.
North of Toulouse, the Tarn-et-Garonne department is rapidly gaining in popularity. Property prices are still relatively low with an average of €1,511 per square metre. The department benefits from its TGV link at Montauban, as well as the nearby Agen station (just over the Aquitaine border). Montauban is a charming town, with café culture thriving in its elegant main square.
Prices are low in the neighbouring department of Aveyron at €1,244 per square metre. The department boasts a wealth of pretty, fortified towns and villages. The cathedral at Rodez bears testament to this; its western façade used to be built into the city walls. Other examples include the remote La Couvertoirade and Conques. Sauveterre de Rouergue, with its half-timbered houses, and Najac, with its sloping alleyways, are also sought after for their unspoilt charm.
Meanwhile, neighbouring Tarn is well placed to benefit from the low-cost carriers that fly into Béziers and Carcassonne (just over the Languedoc border). Prices are moderate here at €1,439 per square metre. Albi’s stunning Gothic cathedral with its painted roof and the houses in Castres which lean over the River Agout at an alarming angle are among the department’s highlights.
The opening of the Brive- Vallée de la Dordogne airport over the border in Limousin should have a big impact. Originally due for completion in 2008, the airport finally opened in June 2010, offering flights to London’s City airport – it could well influence the neighbouring department of Lot’s property prices. Here, Rocamadour is among the most impressive towns, with fortified towers and turrets built into a steep cliff face. Cave paintings at Pech Merle and Gargas also pull in the tourists.
Despite its spectacular scenery, spas and many historical monuments, such as the château at Foix, Ariège is the cheapest department in the region, with an average price of €1,243 per square metre.
Gers isn’t far behind (€1,438/m2), and boasts Auch, with its red roofs set against an impressive backdrop of mountain peaks.
Source: French Property Buying Guide 2010 / 2011
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