Nanterre Property Insight

Capital town of the Hauts de Seine department, headquarter of the Conseil Général, prefecture of the department and university town, Nanterre is located at the entrance door of the French capital. Bordered with the Seine River and with the Défense quarter of Paris (one of the most important business quarters in Europe), it boasts a privileged situation between Paris and the west of the Ile de France region. It accounts for over 90,000 inhabitants called the Nanterriens.

Overview

Human presence in Nanterre dates back to the Neolithic period and its name appears in historical texts from the 6th century. However, the Celtic roots of its name reveal a more ancient origin as well as the existence of an important military and religious housing.

Nanterre is a town located to the west of Paris’ suburb. The town has a strong identity which is displayed throughout its diversity in terms of: economy, housing, companies, old quarters, futurist buildings, open spaces and facilities. Nanterre is an important pole of Paris-Ile de France with numerous cultural and sports facilities as well as famous universities and companies.

Nanterre Immobilier & Property Market Trends

Property prices in Nanterre are higher than most of the other French towns. Indeed, in 2009, a property there is sold €4,157 / sq m against €3,197 / sq m in France on average. Moreover, whereas a house or an apartment is rented €12.22/ sq m a month in France, it cost €18.61 /sq m a month in Nanterre.

However, this is obviously due to the closeness with the French capital, the presence of a large business centre (i.e. La Défense) and Paris’ university amongst others. Many students used to rent their accommodation in the town, which make the rental market a good one. Indeed, over 70% of the inhabitants are tenants. A perfect location for investors; the return on investment should be fast due to the high demand in rentals there.

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

4 Reasons to Buy a Property in Nanterre

• Open spaces and greenery: at the heart of the richest and most dynamic region of France, Nanterre offers three main parks. They are an invitation to relaxation. Trees, flowers, lakes, leisure parks… will make you forget that you are near the French capital. André Malraux Park will also let you admire the Défense famous quarter of Paris. This is also a small piece of paradise for fishing and climbing lovers.

• University centre and rental opportunities: the town is home to one of the largest universities of Paris, Université de Paris Ouest – Nanterrre La Défense. Rental opportunities in the area are great: 71.9% of the population rent their property. If you are looking for an investment in the Paris-Ile de France region, why not choosing Nanterre?

• Location – transport infrastructures: Nanterre is well-connected to Paris and the suburb. Indeed, transport links in the French capital are deemed to be well-developed. They connect many of Paris-Ile de France departments with many means of transport: train, bus, underground, tramway and RER.

• Up and coming area: Nanterre will soon launch the construction of 123 sustainable dwellings. Indeed, close to the University, in Anatole quarter, more than hundred dwellings will be built by 2012. The quarter will then probably get more value and this may increase future demand for property and lead to an increase in property market activity. Two buildings of 6 and 10 floors will be connected by a porch. The buildings will be built around a park.

Property Styles and Architecture in Nanterre

• Apartments: 83.6% of the dwellings in Nanterre are apartments. They are ideal for those who are looking for buy-to-lets. Indeed, students most of the time pitch on a flat rather than a house. Numerous studio flats are on offer, but they are however less sought-after than 3-room apartments. Some of them need renovation but others are refurbished and habitable.

• Houses: detached houses come with a piece of land at the back of the property, a garage and sometimes an attic. They are not attached to other properties but are in general built in a housing estate. Houses have no particular architectural style. Some of them would need renovation whereas others are quite modern and habitable.

Click here for more info about the Architecture in Paris Ile de France.