When France's new regional boundaries were drawn in the 1960s, Toulouse was left out of its former province, the Launguedoc. The people of Toulouse were left slightly confused about where they belonged, and who they belonged to. Eventually, however, the city became the capital of both the Haute-Garonne department and the Midi-Pyrénées region. Identity crisis over, Toulouse settled down and got to work creating a unique culture of high-flying business ventures and industries, mixed with traditional values and historic attractions. Toulouse has reached for the skies – quite literally. In just a few years, the city made a name for itself as a leader in the aeronautics industry, attracting high-profile attention from all over the world. It is also well-known for its electronics, information technology and biotechnology sectors.

With massive growth come ultra-modern attractions: Toulouse boasts a space museum and planetarium, museums and factories devoted to France's aerospace industry, and a huge choice of contemporary cafes. The city also has a new exhibition centre, the Parc des Expositions, which hosts an annual international trade fair and business conferences, in the heart of Toulouse's business sector. But, away from the polished steel and shiny glass of modern times, the Toulouse of long ago still remains. Known as the 'Ville Rose' bcause of its pink-brick buildings, Toulouse is charmingly arranged between the river Garonne and the historic Canal du Midi. The centre of town is dominated by the arcaded place de Capitole, where the imposing Capitole is still the seat of local government with wall-to-ceiling nineteenth-century paintings. There are also many historic buildings and art galleries to see here.

But Toulouse is undoubtedly on the move. The city is the fourth-largest in France, and still one of the fastest-growing. It is also one of the biggest cities in southern Europe.
With a wide range of industries and businesses choosing to base themselves in the area, Toulouse attracts large numbers of business people, both visitors and new residents, from all over France and, increasingly, from further abroad. To cope with an increasing population, Toulouse has invested widely in its town planning and infrastructure, building an underground rail system and adding car parks, bridges, ring roads, urban expressways and motorways. Toulouse has its own airport, with regular flights arriving from various areas of the UK.

Unsurprisingly, business people are not just here for business: the food's not bad either. Toulouse is not known for holding back when it comes to the local cuisine, or the wine for that matter. There are plenty of restaurants showing off to visitors' tastebuds. Where climate is concerned, Toulouse comes off rather mildly. You can still sit on an outdoors terrace drinking coffee in a warm November or December sun and even January and February, the coldest months of the year, have mild days that seem almost spring-like.  July and August are the hottest time of the year, with the average summer temperature in the Midi-Pyrenees hovering around 27°C and dropping to a very reasonable 9°C or 10°C in the winter months. By April, expect days of 18°C. With all it's got going for it – a bouyant economy, nice weather and great wine – the area is becoming increasingly popular with Brits looking to buy property: but they have to contend with the French. Michelle Jackson from A Place in France points out that there are 10,000 new French people moving to town and buying property each year, including both local residents and investors. As a result, Jackson says developers in Toulouse are reporting a real shortage of new property in the town, as demand outstrips supply. "This is due in the main to the local authorities' controlled expansion plans, slowing down the number of building plots becoming available, combined with a strong population growth."

Not surprisingly, property prices in Tiulouse are rising to reflect this growth. Toulouse is one of most expensive French cities to own a property in, although the cost of living is pretty much on par with the rest of France. However, most foreign property buyers are now choosing to live in the more laid-back suburbs or even in the wider Toulouse area, where their money will go a bit further. Jackson names the average property price for a new Toulouse property as 2,600 to 3,200 per square metre. This makes an average two-bedroom property of 60 square metres 156,000 to 193,000 euros. Not bad, you might say, especially as property investors are seeing around a five per cent rental return per annum. But this is a market on the move, taking prices with it, and making investors happier. Jackson expects new property in Toulouse to remain on the upwards trend "certainly for the foreseeable future".

Property prices are also being driven up by a shortage of building space in Toulouse, so developers are now heading to outside areas for projects which, according to Jackson, still represent good value for money while staying within easy access to Toulouse itself. Jackson says Brits are also encouraged by Toulouse's easy access from the UK. "This means that there is a second homes property market in the region, together with a market for UK families looking to make a permanent move to the area." But Jackson has found that while people enter the area via the city, they don't generally stick around. "They rarely settle in the town, opting to move out to the surrounding area," she says. "For example, we currently have a project in Pamiers, in the Ariège only 40 minutes south of Toulouse, in the foot hills of the Pyrenees and close to Andorra. Launched at the beginning of March and selling well on the French market, it has also received a lot of interest from British clientele, whether it be for a permanent move to France, a second home or a rental investment." The pull-factor here, besides slighly lower property prices, include walking, kayaking, fishing, cycling and several spa towns. Along with its popular natural environment, Toulouse and surrounds also lend themselves well for access to the ski resorts of the French Pyrenees and Andorra.

But that's not to say property prices here, like the city, are not on the move. Indeed, says Jackson, property prices here are downright competitive when compared to central Toulouse. A one-bedroom apartment in A Place in France's Pamiers development, which is gated and includes two swimming pools, starts at 98,000 euros, two-bedroom apartments from 143,000 euros and a three-bedroom villa will cost you from 186,000 euros, says Jackson. So it does appear that in Toulouse, you really have nothing to lose: a blossoming economy and a colourful culture, all surrounded by attractive countryside. What more would you want? Well, that large country villa just outside the city is looking pretty good.

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Article published in August 2007