Prices on the real estate market of Toulouse fall

In 2006, Newsweek magazine presented Toulouse as one of the most dynamic cities in the world. The surviving blocks of the XVII century are found side by side with medical and research centers, aerospace companies and universities that teach about 12 thousand students, 10% of which were foreigners. Around Toulouse there are small towns where there are more than 10 thousand people, mostly engaged in agriculture.

And yet the economic crisis has damaged the real estate market of Toulouse. Over the past year, prices in the South of France fell by 10% from the initial value. Since 2007, prices have fallen by about 40 %. Experts say that in the near future, price increases are not expected.

Capitol and CARM — the most popular areas in the centre of Toulouse among foreign buyers. No less famous and such neighborhoods as Busca, Saint international standard and Saint-Michel.

The cost per square meter in Central Toulouse average € 3,625. Foreign investors interested in primarily housing premium. Townhouses with a garden for sale are rare because they are bought at the French themselves.

In the district of Karm restored house from the 1840-ies with 11 bedrooms and a huge garden sold for 1.89 million euros. You can find a large stone house with garden in the hour drive from the city and 500-600 thousand Euro.

More and more Britons, Americans and Canadians put their money into aerospace company in Toulouse. Increased flow of customers from Australia and South Africa, who are looking for secluded places outside the city. For these buyers, there are always large palaces and residences near the Toulouse.

For example, a country house in Bera, a 45-minute drive from Toulouse. This restored Villa with 6 bedrooms, bathrooms open plan, gym, terraces, pool and a plot of 74 acres of land worth 1.26 million euros. Restored house from the XVI century with 4 bedrooms, a 40-minute drive East of Toulouse, in which a 10-room complex for renting, cost of 1.57 million euros.

Hard to believe that each year from 2000 to 2007, property prices here have grown by 5-10 %.

In Toulouse, you can fly from anywhere in Europe, including from most regional UK airports. To Paris 6-8 hours, but the government promises that by 2020, there will appear high-speed train. On it for three hours you can get from the capital to Toulouse.

New estate tax now applies on homes worth over 1.3 million euros. Apparently so homes below this price are this year in great demand, than in the past. “Since prices have fallen, now is the time to buy real estate”— says the expert of Knight Frank, Matthew Hodder-Williams.

Only one thing remains unclear: whether prices have reached a bottom, or is that not the limit?

Marina Bezzubenkov, Tranio.Ru

According to the materials of Financial Times

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