Melun Property Insight

Melun is a French city located north of France, in the Seine et Marne and in the Paris Ile de France region. The Seine et Marne department belongs to the large crown of Paris, and as a result even if the department does not share borders with Paris itself, it shares Paris assets and dynamism. With 37,700 inhabitants called the Melunais the city is the administrative centre of the department.

Overview

First traces of the city date back to 52 BC. During the 10th century, the Capetians built the royal castle, which was very appreciated by French Kings until the Renaissance. The city was also fortified by Clovis, and many times destroyed by wars, between English, or between other French Counties.

Melun is composed of three parts: the Saint Etienne Island, on the south bank the Varenne plain and on the north bank, the Almont Valley. The city boasts a rich medieval heritage which you can easily visit thanks to the historical marked trail.

Melun’s economy is mainly based on the pharmaceutical industry, along with the aircraft industry. The city is also renowned as it houses the National Gendarmerie Officers School.

Melun Immobilier & Property Market Trends

A property in France in 2009 is sold in average €3,200/sq m. Given the fact that a dwelling is worth €3,077/sq m in April 2009, we can say that Melun is surprisingly inexpensive. Moreover it is not very relevant to compare Melun with the national average. As a matter of fact, the city belongs to the region Paris Ile de France which cannot be compared to the national average. Prices in the region reach €5,100/sq m, as a consequence we can say that Melun is very affordable for the region.

This is unwaveringly an excellent asset for the city. Located only 40 kilometres south east of Paris, Melun is an excellent alternative to the capital city. Thanks to good transport network it is moreover easy to commute to Paris and Melun has become both a dormitory town and a lively city with its own dynamism.

As far as rentals are concerned, Melun offers great opportunities. Indeed, with 68% of residents being tenants and with €13.45/sq m/ month (while the national average is about €12.20/sq m/month), the two factors for a quick return on investment are gathered: high demand and high prices.

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

4 Reasons to Buy a Property in Melun

• Culture, art and historical heritage: apart from being a very dynamic economic centre, Melun is also a very nice city where they achieve to merge modernity and historical heritage. The town council has organised a historical marked trail which passes through the main historical monuments (29 of them). In each monument there is a brass with some explanations, enabling tourists to visit the city alone without any rush.

• Architectural heritage: Melun displays a large architectural heritage due to its past. As already mentioned the city already existed during the Gallo-Roman era, and as a result its heritage covers 2,000 years of history. In the Saint Etienne Island you can see the Gallo-Roman pottery oven, as well as the fortifications built during the 13th century to protect the city. The castle is also an incontrovertible stop. Strolling in the Saint Aspais quarter you will discover the medieval part of Melun with its half timbered houses and its Gothic style churches. Mills, springs, bridges, etc., are other interesting vernacular architecture monuments.

• Location – transport infrastructures: located only 40 kilometres from Paris, Melun is very well linked to the French capital, which also means that is very well connected to the whole world, as it has easy access to Paris transport infrastructures. From Melun, Paris is only 30 minutes away in train, while Marseille is 4h22 with the TGV (fast train).

• Return on investment: Melun is surprisingly inexpensive when compared to the regional average and to its neighbour cities. This is an excellent asset for the city which has become a very good alternative to the French capital. Buying a property in Melun enables you to work in the French capital (only 30 minutes away by train, which is nothing when talking about a city of Paris’ size) while you will spend twice less than you would in Paris. Moreover, prices decreased during the real estate crisis and are now increasing again (3% fin April), hence, it is a good moment to invest as we can expect prices to keep on increasing

Property Styles and Architecture in Melun

• Apartments: as they represent 83% of dwellings in Melun, you are very likely to buy one of them. They are probably the best investment for a buy-to-let, and a good pied-a-terre near by Paris. They are rather modern buildings and they usually come with a private parking. The main asset is that they are located close by all amenities.

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