Compiègne Property Insight

Compiègne is a 40,000 inhabitants town, called the Compiegnois, located in the north of France, only few kilometres from Paris. It belongs to the Oise department, to which it is its sub administrative centre, and to the Picardy region. Compiegne is renowned for its beautiful forest, but also for being a royal city. Let’s discover this beautiful city as its royal history!

Overview

Compiegne has been existing as a village since the Gallo-Roman era, however its creation as a city dates back to 877, when the collegial Sainte Marie was built. At that time it was home of the Emperor Charles le Chauve, and as a result we can say that the city first born as an imperial city. Then the city was dwelt by all the Carolingian and Merovingian Kings; four of them were crowned there and three were buried.

Compiegne was a privileged city for all French Kings, some of them having their second residence there in the castle, such as Louis XIV, others found a refuge there, such as Charles V, Jean le Bon created the Franc, etc. With the Bonapartes, Compiegne became again an imperial city. Finally, nowadays the town is only the sub administrative centre of its department; however, its beautiful forest and its historical heritage make it a key destination for tourists and people in high places. Compiegne was also the stage of the armistice in 1918, but sadly also in 1940, when Hitler destroyed all vestiges of the 1918 armistice.

Compiegne Immobilier & Property Market Trends

A house in France in 2009 is sold €3,197 /sq m on average. Since in Compiègne a house is sold €2,560 /sq m in May 2009, we can say that the city is fairly affordable. Prices are also slightly lower than the department average (€2,590 /sq m). It is very interesting to have a closer look at the trend these last months. As a matter of fact, in February 2009, a property was sold at the same price in Oise and in Compiegne (€2,525 /sq m). But from February until March, prices in Oise increased by 6%, while in the meantime, they decreased by 4.5% in Compiegne (which seems more logical considering it was at the heart of the real estate crisis). From March on, prices have started to increase again in Compiegne (+6% since March), while the department average keeps on decreasing (-3.5%).

Compiegne offers also excellent rental opportunities. In fact, with 66.5% of residents being tenants, and with €12.5 /sq m /month (which is slightly higher than the national average: €12.20 /sq m /month) the city offers both a high demand and good prices.

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

5 Reasons to Buy a Property in Compiegne

• Culture, art and historical heritage: owing to its past and historical heritage, Compiegne was awarded the Art and History Town label. By walking in the city and visiting the beautiful historical monuments, you will jump some centuries backwards. In addition to the castle, you also have to visit the ramparts garden, Songeons hotel, a museum where you will discover Compiegne’s history, the Hotel Dieu, the Bog King Tower, etc.

• Castle: since the Merovingian era Compiegne was home of the Imperial and then royal families. The first castle was probably in wood, and was built by Clovis. Then Charles le Chauve built another one, inspired by the castle built by Charlemagne in Aix-la-Chapelle. In 1374, Charles V built another castle, which is at the origin of the current palace. Along the years and centuries, every king made amendments and improved the beauty and luxury of the castle. However, it was not before 1751, under Louis XV supervision that the castle was transformed into the beautiful palace we can today visit.

• Forest and natural environment: Compiegne is renowned in France for its beautiful and rich forest, and so ever since the Middle Ages, when Kings used to go to the city in order to have a game hunting. The forest is the extension of the castle park and stretches over more than 14,400 hectares. There are many different kinds of trees: oaks, breeches, birches, ashes, chestnuts, maples, wild cherry trees, poplars, lime trees, but also hazel trees, elders, etc., and also many different kinds of animals, especially game. Walkways are clear cut and so you can easily walk in this beautiful universe, surrounded by huge trees, but also walking along rivers, lakes or ponds. There are also 7 cycle paths going through the forest.

• Location-transports: Compiegne is located only 90kms (1hour) from Paris. This explains of course why it was an alternative to Paris for Kings residence. There are many TER (regional trains) linking the city to Paris. It is also worth mentioning that the city boasts a bus network composed of 11 lines, totally free!

• Rental opportunities: as already said, Compiegne offers great rental opportunities as it combines high demand (66.5% of tenants), high rental prices and affordable house prices. Moreover, it is also a key destination for tourism, and as a result you will be able to let your property all year long or only during summer time.

Property Styles and Architecture in Compiegne

• Half timbered houses: in the medieval quarter of the city you will find many half timbered houses. In Compiegne, they almost all been renovated, and as a consequence their price is very high. However, if you are looking for an authentic medieval house, you will be delighted by this kind of property. Timber structure and decoration is present as much inside as outside for the delight of your eyes. In average 2 storey high, but sometimes 3, half timbered houses are usually fairly large and are a perfect investment for a second home, but also for a buy-to-let, especially in summer.

• Apartments: as 76% of dwellings are apartments in Compiegne, you will be very likely to buy one of them. They are a good investment, especially for a buy-to-let. They usually come with a parking, and sometimes a balcony, if not with a small garden. The main advantage of this kind of dwelling is that it is located close by all amenities, usually in the centre of the city.

Click here for more info about the Architecture in Picardie.