Troyes Property Insight

Troyes is the préfecture of Aube, in the Champagne-Ardenne region. Located in the middle of the department, the town accounts for 63,000 inhabitants – the Troyens – and belongs to a community of communes of almost 130,000 inhabitants. Troyes is situated about 160km to the south-east of Paris. It offers a quality lifestyle and has a great economical and touristy potential.

Overview

Several branches of the Seine River pass through the town in the form of canals. Troyes kept a stunning heritage from the past. The houses which can be found in the town centre have a Renaissance style and are thus great in terms of architecture. Troyes is considered as one of the most beautiful medieval area of France. From the sky, the historical part of the town has the shape of a cap of champagne!

Troyes was already inhabited by the Gaul people (Tricasses). During the Middle Ages, it became the capital of the county of Champagne. It has always been an important economical centre. It is located at the crossroads of the axis Paris-Bâle and the big trade route which goes Europe of Flanders to Italy since the big fairs being hold in the Champagne region during the 12th and 13th centuries. Troyes was the capital of hosiery at the 19th century and is still renowned nowadays for its textile industry. The town is home to factory shops where people can buy clothes and shoes at very low prices (magasins d’usine). Three commercial centres gather these factory shops: Marques City, Marques Avenue and Mac Arthur Glen. Nowadays, the town has many assets such as a wide range of activities available, natural areas and a breathtaking architectural heritage.

Troyes Immobilier & Property Market Trends

With an average price of €1,665 / square metre in May 2009 for a property to buy, Troyes has an interesting property market. An apartment cost in average €1,576 / square metre and a house €1,754 / square metre at the same period of the year. Below are some ranges of prices for apartments which were calculated for the period March 2008-February 2009: - €1,520 / sq m - €2,050 / sq m for a studio flat - €1,290 / sq m - €1,700 / sq m for a 2-room apartment - €1,200 / sq m - €1,670 / sq m for a 3-room apartment - €1,140 / sq m - €1,570 / sq m for a 4-room apartment - €1,130 / sq m - €1,630 / sq m for a 5-room apartment

New built apartments are of course more expensive: between €2,370 / sq m and €2,950 / sq m. As far as houses are concerned, the average price for a 4-room one was comprised between €127,500 and €155,000 and it was €125,000 - €183,000 for a 5-room one. More than 66% of the inhabitants of Troyes are tenants and 74.4% of the properties are apartments. The rental market offers good opportunities. The average price per square metre per month is €8.38, which is really affordable in comparison with the national average: €12.22 / sq m / month.

To get updated info about the property prices in Aube, please browse our French Property Market Reports published in the News Section every month.

6 Reasons to Buy a Property in Troyes

• Monuments: Troyes’ architectural heritage is for sure its major asset. Everything is done to emphasize this rich heritage and renovate the numerous historical monuments of the town. Amongst the monuments not to miss in Troyes: the town hall (17th century, Louis XIII style), mansions - hôtel du Lion Noir (16th century, Renaissance façade) , hôtel de Marisy (16th century), hôtel de Mauroy (16th century, historical monument which houses today the largest museum of shaping tools in the world!) - half-timbered houses from the 16th and 17th centuries as well as many religious monuments listed as historical monuments: the cathedral Saint-Pierre-et-Saint-Paul, the churches Saint Nizier, Saint-Urbain, Sainte-Madeleine, Saint-Jean, etc.

• Wines and gourmet food: when we think about the gastronomy of the Champagne Ardenne region, we obviously think about champagne and Troyes offers fine champagne too especially on the neighbouring Côte des Bar! But you can also taste the delicious rosé des Riceys which is labeled for its quality (AOC). It is said that Louis XIV discovered and enjoyed this wine thanks to workers coming from Aube for the construction of Versailles. This wine can be perfectly accompanied with the chaource - an AOC cow cheese - or an andouillette. Other local specialties are the Cacibel, a drink made of cider, blackcurrant and honey, cider from the Othe country (south east of Troyes) and sloes.

• Nature and activities: public gardens could already be found in Troyes at the 11th century. There are more than 160ha of parks as well as places to practise sport and leisure activities. Troyes is located close to the parc naturel régional de la forêt d’Orient, one of the five regional natural parks which were first created in France. With a surface of 70,000ha, this park is home to large lakes surrounded by deep forests. The lac d’Orient and lac du Temple enable people to practise numerous activities such as fishing, swimming or doing water sports (sailing, scuba diving, motorboat racing, etc).

• Culture: Troyes also boasts a thriving cultural life. The town is home to great museums: Modern Art Museum, Vauluisant Museum, Historical Museum of Troyes and Champagne, Hosiery Museum, Fine Arts Museum, etc. Numerous events are organised all year round such as the regional book fair for young people or the music festival ‘Les Nuits de Champagne’. The latter is held every year at the end of October and lasts one week. About 1,000 members of choirs gather in Troyes and prepare two final concerts with songs of one or several French artists (Mauranne, Bénabar, Michel Jonasz, Renaud, Laurent Voulzy, etc). Plenty of concerts take place during this festival, from jazz to rock music, going through French gypsy music…

• Location – transport infrastructure: situated at the crossroads of major motorways (A5 & A26) only 2h from Paris, Troyes has a strategic location which contributes in attracting both French and foreign holidaymakers. The town is easily accessible from the north of Europe (Belgium, the Netherlands...) via Reims as well as from Lyon or Dijon using the A5 and A31.

• Return on investment: Troyes is also a student town as it houses many higher education institutions. Thus there is a sustained demand for properties in the area and it should offer a good future return on investment. Moreover, Troyes being an important tourist and economic centre, it is also an up and coming area. There are good rental opportunities in the town, be it for short or long-term rentals.

Property Styles and Architecture in Troyes

• Half-timbered houses: there are many outstanding half-timbered houses in the historical centre of the town. These properties are made of stone and cob mixed with beams. They are really full of charm and retain a certain authenticity throughout the centuries...Half-timbered houses have many windows and a kind of archway at the top which is often an attic which was converted into a room. Half-timbered houses in Troyes are painted in different colours: pink, yellow, beige, etc.

• Apartments: as said above, the great majority of dwellings in Troyes are apartments (74.4%). Apartments are good investments for buy-to-let. They can be part of a housing estate or a house which was split into several apartments or studio flats. Apartments are very sought-after, especially amongst students and young couples.

Click here for more info about the Architecture in Champagne Ardenne.