APARTMENTS WITH SEA VIEW IN BIARRITZ
Rare and highly-prized, apartments offering clear views of the ocean are the most widely coveted by buyers of second residences. All to be found in certain high-end neighbourhoods of Biarritz, these gems are posting soaring prices and sell within a few weeks. Focus on a highly reactive market with Valérie Paris, consultant with Emile Garcin Biarritz.
Nicknamed the "California of Europe", the seaside resort of Biarritz is popular for its delightful lifestyle, its nature, golf-courses and friendly atmosphere. Since the end of 2016, it has chalked up a record number of transactions. A market posting rising prices, in which sellers clearly have the upper hand. "Properties enjoying a sea view are the most sought-after, accounting for 60% of demand," says Valérie Paris. "Rare on the market, they command premium prices, at least 10,000 € per sq. metre, and up to 20,000 € in the town's prized neighbourhoods such as Milady, the Impérial area or Côte Basque. Today, there is no longer, or very little, margin for negotiation, 5% versus 10% previously : certain apartments even change hands over and above the asking price ! The time it takes to sell has also become shorter : 6 months on average versus 10 months before 2016. Apartments offering sea views belong to the prestige market in Biarritz, whose recovery has accelerated significantly throughout 2017 with a steady rise in the number of transactions, and 20 % more turnover as regards our agency." A town with a market mainly comprised of holiday residences, Biarritz attracts many French buyers but also clients from Switzerland and northern Europe (Germany, Netherlands). "What buyers now want is an apartment with sea view on an upper floor, with a terrace, a "walk-everywhere" lifestyle, and a parking place," adds Valérie Paris. "Rare assets, especially for large apartments (3 bedrooms) which are more popular compared to houses as second residences or seasonal rental investments, as they require lower maintenance, and are thus easier to manage and more economical over the long term."
Emile Garcin Immobilier Côte Basque & Landaise, 2 avenue Reine Victoria (05 59 01 59 59). www.emilegarcin.fr
