Even on the luxury market, purchasers are taking their time before signing a sale. They still want to buy, but have become slower in making the final decision. Clients hesitate, go this way and that, and visits do not always result in an offer, much less a signature. 

The fact is that the turbulences of the classical market are also to be felt in the market of luxury. However, the south-west is still attractive, even to foreigners looking for a country house. And the Midi-Pyrénées has an important supply of beautiful properties, mansions, manors and beautiful residences.

In Toulouse, the demand is focused on beautiful apartments, either classical or fully renovated. La Dalbade, St Etienne or the hypercentre remain its main focus. Those who seek a town house will turn to the Côte Pavée or the Busca. Things are a bit different outside the town where, as in the classical market, the most beautiful products are a bit harder to sell.

In the East of Toulouse for example, in Balma, the green and high-end suburb, the supply of very beautiful houses with high standard prestations has become much wider these past few years. There is a wide variety of choice, but the demand is growing thinner.

3 Questions to… Marc Cellura, head of RBI agency

1. How fares the luxury marker in Toulouse and the surrounding region?

We have felt the turbulence of the average real-estate market. But in the end, the market which has sustained the most damage is that of products under 700,000 euros. Over this figure and up to 2 millions, we work very well on outstanding real-estate. Inside Toulouse, there are sometimes no negociations, even at over one million euros. Outside the city, things are a bit different. 

2. What are the areas of safe investment?
All the historical areas, St Etienne, the hypercentre, La Dalbade remain extremely sought-after, and demad for beautiful apartments and town mansions remains as strong as ever. Right now, people feel a need for reassurance, so they favour classical homes over more atypical spaces.

3. Who is active on the loxal luxury market?
Since foreigners are hindered by the weak dollar, they are not very present. However, the French are active, especially locals and mobile high executives.

The areas

Hypercentre
Ancient: 3,500 to 5,000 euros/ m2
New: 3,500 to 4,000 euros/ m2
Near the Capitole, La Dalbade or in St-Etienne, outstanding apartments and town mansions with ancient parquets, stone and galet walls and sometimes garden- like terraces are the hidden treasures of luxury real-estate. To move into these ancient areas typical of Toulouse, clients are ready to spend up to 5,000 euros per square meter: the price can grow high since the product is rare.

La Côte Pavée
Ancient: 3,000 to 5,000 euros/ m2
New: 2,900 to 3,500 euros/ m2
It overlooks the city-centre of Toulouse and uphods its reputation as a sought-after area. Airier than the city-centre, the Côte Pavée provides beautiful properties and rich bourgeois homes. There is no lack of prospective buyers for this area, but the market remains difficult, since many sales are made through word of mouth and in a confidential way. 

Le Busca
Ancient: 3,500 to 4,000 euros/ m2
New: 2,900 to 3,500 euros/ m2
Some Toulousains want only Le Busca, a pretty residential area, closer to the city centre than the Côte Pavée and within walking distance from the Jardin des Plantes, Toulouse’s green lung. Le Busca has beautiful 1930’s houses and typical Toulousaines, made of brick and galets, with pretty and intimate little secret gardens.

Balma
Ancient: 2,900 to 3,500 euros/ m2
New: 2,900 to 3,200 euros/ m2
The green suburbs of the east of Toulouse are attractive. They present all the advantages of the country right by the city: open spaces, view of the coteaux and a recent habitat with many new high-standard houses.

An overview of the market by Demeures & Châteaux
 
St Aubin
6-room apartment: 900,000 euros
A 215m2 apartment, located in a 19th century town mansion with a big garden, an outbuilding and a parking space.

La côte Pavée
Architect’s villa: 1,300,000 euros
An architect’s villa on a beautiful piece of land with swimming pool.

Source: Classified ads from www.lux-residence.com