Vincennes Property Insight

Vincennes is a town of the Val de Marne department, in Paris Ile de France. It is located to the east of the French capital. It was named after the Bois de Vincennes, the largest park of Paris, situated in the south of the town (the wood is however part of the city of Paris). The town accounts for 47,488 inhabitants (2006) called the Vincennois. The town is renowned for its castle (Château de Vincennes), which was at the origin of the construction of Vincennes.

Overview

The foundation of Vincennes dates back to the 12th century: Louis VII the Younger came hunting in the bois de Vincennes regularly and decided to build a home (where is currently built the castle). Its son expanded the house and built around the wood a surrounding wall, devoted to game hunting.

However, Vincennes really expanded under the reign of Louis IX of France who loved spending time in Vincennes’ manor. He had the manor fortified and decided to build the gorgeous dungeon of the castle. Vincennes was then occupied by the English, with the regency of Henry V of England. Paris and Vincennes were liberated from the English presence in 1436.

Vincennes Immobilier & Property Market Trends

A property in France in 2009 is sold €3,197 /sq m. Prices in Paris-Ile de France are in general higher than the national average, especially if situated in the small crown. Thus, Vincennes is a quite expensive town dedicated to people who have a high budget. Indeed, property prices there are 5,954 /sq m. An apartment should cost about €416,000 for an average area of 72 sq m.

Whereas properties are rented €12.22 /sq m a month in France, they are rented €20.99 /sq m a month in the town. Proportionally then, investors should find the right investment since they will buy at a higher price, but also rent at a high price. With offer half of tenants, Vincennes offers good rental opportunities, which should convince you easily. Note that 2-room flats and houses are more sought-after than any other property type.

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

3 Reasons to Buy a Property in Vincennes

• Economy: Vincennes is a dynamic finance centre close to Paris. It boasts a strategic location half way between Orly and Roissy, which facilitates the relationships with exporting companies. The well-developed transport links are also a major asset which contributes to the expansion of the town. Vincennes accounts for 15,191 jobs dominated by the services sector. 76% of the companies there have less than 10 employees.

• Monuments and sites: some points of interest in Vincennes are worth seeing. For instance, the Château de Vincennes, a famous castle, is not to be missed. Along with the Louvre museum, this is one of the most important castles of the history of France. This is also one of the vastest and best conserved strongholds of Europe. Visiting the zoo is also a way to relax and discover animals. Saint Louis de Vincennes church and the synagogue are also worthwhile.

• Location – Transport links: as part of the Paris Ile de France region, Vincennes boast good transport links from and to the French capital. Underground, bus and RER train regularly drive to Paris and other destinations. A project of expansion of a tube line is currently considered: the tube would be expanded to the town of Fontenay-sous-Bois.

Property Styles and Architecture in Vincennes

• Apartments: they represent over 92% of the total dwelling in Vincennes. They have no particular architectural style, but a feature can be however noticed: a majority of them are quite modern and renovated. This is the case for many apartments in Paris-Ile de France. If located close to a tube station, they have more value. You can find a flat with a piece of land and terrace.

• Detached houses: such property often come with a piece of land, terrace and garage. Some of them are very luxury but others are more affordable. Inside, walls are most of the time painted in white, which make it more luminous. Ideal for families, they offer independence and tranquility.

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