The Iconic Coastal City
Discover Marseille's Real Estate
The city with a blend of culture, tourism, and contemporary lifestyle, Marseilles is one of the fastest-growing economies in France. Decorated by the Mediterranean coastline and lovely weather, the city is a dream for both investors and tourists.
Culture, History, and Business
Marseilles is located on the coast of the Mediterranean near the mouth of the Rhône. The city landmass has an area of 241 km2 and was populated by over 1,603,000 residents in 2019, a 0.25% increase from the figures of the previous year. Its city center, which is over 3,173 km2, is the third-largest in France after Paris and Lyon.
Popularly known as Massalia by the ancient Greeks and Romans, Marseilles was an important trading center in Europe and remained the major commercial port of France. Presently, Marseilles is France’s largest city on the coast of Mediterranean, as well as the largest port for freight, cruise ships, and international trade. In 2013, the city was named European Capital of Culture as well as the European Capital of Sport in 2017. It was one of the host states of the 1998 World Cup and Euro 2016. Also, Aix-Marseille University is located in this city.
Real Estate Appeal
The port city of Marseilles has a history dipped in poverty, crime, and civil unrest. Thanks to time and investments by the government and private sector, the area has emerged as a cultural hub. With a population of about one million people, the area is constantly receiving investments worth millions of Euros each year. In fact, some of the areas like Corniche, a hilly district is home to many sprawling villas which are available for $1,300 per square foot. You could also go for lofts that are priced feasibly at around $800 per square foot. That being said, you rest assured that there is quite a price range in Marseilles for all kinds of real estate properties.
But since the last few years, the southern French city has witnessed a sharp decline in its real estate market. But the onset of the new year came as a new dawn for the city’s real estate. There has been a slender increase in the sales volume of properties, which is an early sign of the impending progress in the market. Major credit for this spike shall be given to the first-time buyers who are ramping up demand for residential and non-residential accommodations. Another creditworthy candidate is the new commercial projects that have been seeding the regional growth. This includes many malls and shopping centers, residential complexes, and commercial infrastructure.
If you are interested in investing in Marseilles, our subsequent articles will reveal the top neighborhoods to invest in 2020 as well as the reasons to invest in the city.
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