Are you planning to invest in real estate in Marseille? This French city has great potential that is attracting more and more investors. And the health crisis has only made the city more attractive. But what are Marseille’s real assets? Quality of life, people, climate, beaches, etc. There are many reasons why this city is an excellent choice for investment.
Why invest in real estate in Marseille?
In terms of population, Marseille is the second largest city in France after Paris. The city is known for its high level of sunshine all year round. When you think of Marseille, you immediately think of sunshine and fine weather. The city boasts 320 days of sunshine a year.
The town’s lifestyle attracts many tourists and locals every year. Many companies specializing in new-build property, such as Novanea, offer assistance in finding the ideal property.
But that’s not all: there’s also a wealth of cultural activities on offer. Marseille is classified as a “Ville d’Art et d’Histoire” for its exceptional cultural heritage. Its gastronomy is also renowned, from pastis to bouillabaisse. For all these reasons, the city welcomes around 5 million visitors every year.
The city’s appeal to investors
Property prices in Marseille are still very competitive compared with other major cities. There’s no doubt about it: the city is very popular with real estate investors. Whether it’s a property for rent or for sale, the real estate market is flourishing in Marseille.
In 2018, the city was named one of the most profitable cities for rental investment by Les Echos. Given the variety of properties available, you’re sure to find the right one for you. Note, however, that the price will obviously vary from one property and neighborhood to another. Prices can soar in some neighborhoods.
As a reminder, by investing in Marseille, you will be able to benefit from tax exemption schemes such as the Pinel scheme for zone B1.
The average property price in the city is 2,400 euros/m2. Its gross real estate yield is around 6%. The demand for furnished accommodation is also very high.
Marseille: city districts to invest in
Today, certain neighborhoods are taking over Marseille. Here are just a few examples:
The 8th arrondissement
It’s the Phocéenne city’ s middle-class district, offering top-of-the-range housing. This mainly residential neighborhood has the advantage of being close to the Prado beaches. New properties are becoming increasingly rare in this area. So expect very high prices. On the other hand, you can be sure of a profitable investment.
The Old Port
This district is renowned as the city’s historical and cultural center. It is very popular with tourists, students and new residents. Rental investment in this area remains an excellent choice. Finally, Euroméditerranée 1, Euroméditerranée 2, le Centre or les Camoins are other good ideas for your real estate investment.