Second City Investments: Marseille

Posted by Jude Buttle on Thursday, September 18, 2008

The oldest city in France, Marseille has a rich history and due to its pre-eminence as a Mediterranean port, it also boasts one of the most diverse societies in the country.

  

Fast Facts

Country:  France

Population:  1,604,550

Area: 2830.2 km²

Currency: € Euro

Official Language: French

Telephone Code:  +33 4 91 or +33 4 96

Setting the Scene

Located on the southern coast of France on the Mediterranean Sea, Marseille is the oldest and second largest city in the country, after Paris.

Marseille is a modern and vibrant city, blessed with a rugged coastline that is sprinkled with small fjords. The area is drenched in culture and is full of archaeological sites spreading out to many of its splendid beaches.

Major Industries

Marseille is an important centre of trade and industry, particularly due to its commercial transport and container port.  The city is the busiest seaport in France and each year, 100 million tons of freight passes through the harbour, 60 per cent of which is petroleum, making Marseille the country's leading centre of oil refinement.

As well as petroleum refining, Marseille's other principal industries are shipbuilding, tourism and the fishing trade, with a daily fish market held at the Quai des Belges at the Old Port, which supplies most of the region's seafood.

Marseille Lifestyle

In 600 BC, Marseille was founded by Greeks from Phocaea and used as a trading port and as such it has been the main entry point into France for many immigrants through the centuries, creating a diverse mix of people and cultures.

Guarded by Fort Saint Jean and Fort Saint Nicolas, the Old Port (built in 1660 by Louis XIV) is now used mainly as a marina and is dotted with fishing boats and yachts. The area has become a fashionable place to hang-out with a wide selection of cafes, bars and shops to choose from.

There is a multitude of entertaining and historic places to visit in the area, including cinemas, theatres, churches, museums, art galleries and an opera house. The city also hosts many festivals and special events and is the choice for much of the surrounding region's social activities. 

Sailing is a popular sport within the city, with many beaches offering all kinds of water-sports along the coast, where one can take advantage of the warm and sometimes windy Mediterranean climate. The annual Semaine Nautique Internationale de Marseille is held each April and showcases many different types of water sports.

Leading Lights

Two enigmatic French football legends are from Marseille; both possessed great technical ability, were controversial characters and played the game with a swagger.

The mercurial Eric Cantona was born in the city in 1996 and played for the local team, Olympique de Marseille.

Cantona is hailed as the signing that turned Manchester United from sleeping giants into a Premiership winning outfit during the early 1990s. ‘King Eric' - as he is fondly referred to by United fans - served a nine month ban from football for 'kung-fu' kicking a spectator that had been hurling racist abuse at him.

Zinedine Zidane was born in Marseille in 1972 and is considered by many experts as the greatest football player of his generation.

A World Cup winner with France, Zidane was voted European Footballer of the year in 1998 and played his last professional game in the World Cup final of 2006, where he scored France's goal but was later sent off for head butting an opposing player before his country lost on penalties to Italy.

Capital Comparison

Paris is a major global city, exerting an influence in the world of business, the arts, politics, education, science, fashion and entertainment.  According to PricewaterhouseCoopers, Paris' urban area has the fifth highest GDP in the world and the highest in Europe.

Although not as popular and powerful as Paris, Marseille is a significant French city and plays an important cultural and economical role due to its commercial port, oil refining industry and large population.

Property Insight

For years now, France has been one of the countries with the most vibrant housing markets in the EU, partly due to the increase in purchases by non-residents, particularly from the UK.

Whilst the price of French property has been rising substantially since 1998, the increases in apartments and houses in 2007, of 4.5 per cent and 4.8 per cent respectively, were down on previous years due to the ongoing global economic concerns.

Property in Marseille has also witnessed a slowdown over the last year but the area has seen some regeneration, which is helping the city maintain a healthy buy-to-let market.

Conclusion

A diverse city full of art and culture, Marseille is one of the main ports of call in the sunny south of France.

 

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Photo by papalars

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