Real Estate: Great opportunities in Montpellier
A large city in the south, Montpellier (Herault) is seeing its population rise from year to year. The city’s real estate market went into a real frenzy right after the health crisis, however, “Since last fall, we have noticed a significant slowdown, buyers are taking the time to buy, and there is no longer a shortage of items for sale.”notes Gregory Rouvière, Director of Century 21, Rouvière Group.
For investors, Montpellier offers great opportunities, as the city appeals to students, working people, and young retirees alike. Since the percentage of owners is still low there, the demand for rent is good, and despite the rent controls, in place since 1any July 2022, average profitability remains in the upper range for major cities.
A historic district center, Ecusson attracts many tenants, students and young workers. This is the reason for the high prices. “You have to count on a budget of 4,000 to 5,000 euros per square meter for a small area, depending on its condition”admits Alizee Laplanche, director of transactions Guy Hocquet Antigone.
Fine Arts Strip and Port Marianne
Be warned, all of the condos are old, and many are poorly maintained. In addition, small surfaces, which are numerous in this segment, often show poor energy performance (EPD) diagnoses. For the heritage investment, go for 1-bedroom apartments and check out the work that will be planned by incorporating the amount into your budget.
To buy about 10% cheaper, aim for the Beaux-Arts Strip, an area on the northern border of Ecusson, which has many old apartments and a few small log homes. In these two regions, the set rent is 14.40 € per square meter and month for this type of roof, but after renovation, the dwelling can be rented for 17.30 € per square meter and month (17 80 € for furnished accommodation), or about 700 € per month for a two-room apartment.
One solution is to cross Lez to excavate the Port-Marianne region, which emerged from Earth fifteen years earlier. Profitability will be less strong there, because prices are the highest in town. Count about 220,000 euros for a 40 square meter one-bedroom apartment with balcony and parking space, which can be rented at the same price as in the city center. Please note that the building qualities vary greatly from building to building.
About the future tram line 5
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