How to buy property in Lyon

Lyon is a French town situated in the historic Rhône-Alpes region. It is one of the largest towns in France and it can hold its own in comparison with the others. A major economic centre in Europe, it is a town on the cutting-edge of technology, a creative and energetic town, Lyon has a wide range of attractions. The least that one can say is that it will seduce both visitors and investors alike. However, how does the real estate market in the town appear to be? In which area should one invest and how does one acquire a property as a foreigner? We will tell you everything about these subjects in this article.

Focus on the real estate market in Lyon

Lyon benefits from a very vibrant real estate market. Generally, the market today is attractive, especially in the centre of the town. Certainly, prices have increased by 7.7% in 2017. Nevertheless, this does not seem to have discouraged investors from buying real-estate property. At the current time, the average price of an apartment lies between €3 690 per square metre and €12.1 per square metre for a rental. Otherwise the price is a little bit lower in the East of Lyon. It is the reason for which first time buyers prefer to make a beeline for that part of the town. The sector offers a lot of available land and currently numerous new housing construction schemes.

Furthermore, regarding the types of property offered in Lyon, the selection is rather large and varied. However, the offers for apartments dominates the market, especially if one heads in the direction of the town centre. For students, studios and one bedrooms are available. In contrast, if you would like to procure a whole house, you will need to turn towards the suburbs, on the outskirts of the town. Incidentally, it could be easy to find one at the present time since there a significant number of offers, with the same going for the number of constructions currently underway.

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Which area to live in Lyon?

People who like trendy and lively areas gladly choose the 1st and 7th arrondissements. One can find all sorts of entertainment in these areas; however, the price is as high as the 2nd, 3rd, and 8th arrondissements, regarded as the most prestigious and luxurious areas in the town. In contrast, if you are looking for a calmer area to live in, it is better to choose the 6th arrondissement. The property prices may be regarded as average, however, the offers are a little limited. Indeed, to find the cheapest areas turn towards the 9th arrondissement.

How to buy a property as a foreigner?

French law gives foreigners the right to acquire a real-estate property in French territory. That having been said, the steps that need to be followed are a little more complicated. If you would like to buy a property in Lyon, the steps to follow are simple and are as follows:

  • Find a real-estate agency to help you in the process

  • Find information regarding finance for the purchase

  • Identify the property to buy and make an offer

  • Contact a mortgage loan broker or company, (if required)

  • Contract a sales agreement

  • Sign your deed of sale