Apartments In Montpellier
The French magazine “Expansion” has recently reported that prices of apartments in Montpellier remain at a high level but have stabilised. It is not advisable to wait for prices to reduce because there are not enough apartments available to meet the current demand. Real estate agents in the city are saying that properties are selling so fast that there is hardly time to put them on their websites. The price per square metre in the Hospital and University districts has reached 3,000 euros per square metre with prices rising by 6% during the past year. Montpellier remains a prime location for property investment with 10,000 people moving there ever year.
To cope with demand there are new developments under construction in the south and eastern ends of the city. The new tramline under construction (soon to be completed) will provide excellent transport links from the outlying suburbs. The districts which are selling fastest are in Auguelongue, Millénaire, Ecusson and Antigone. La Paillade is rumoured to be earmarked for redevelopment and is an area ripe for investment. Lattes, Clapiers, Pérols and Jacou are becoming popular zones with new buyers looking further afield to find more affordable apartments. Prices can vary by as much as 40% between villages next to Montpellier and those 30 km away in areas like Gignac.
As a rough guide, you can except to pay around €100,000 for a one bed studio apartment and anything from €400,000 for a four bedroom apartment with a terrace. Most of the apartments in the old quarter are in large converted houses, while the new developments offer purchasers the opportunity to buy brand new properties off plan. This is often the preferred method for new buyers as when the property is completed it is usually worth more than the price paid during construction.
We recommend contacting Languedoc Property Finders who are generally happy to answer any property related questions without obligation.
