Outstanding residences amidst the vines
Heir to a rich and fruitful past in the production and trade of wine, the region around Bordeaux boasts many exceptional residences with vineyard estates or vast parks. An unusual architectural heritage with precious old stone, which still attracts both French and international clients.
Crossed by the Garonne, benefiting from an ocean climate ensuring mild weather all year round, the Gironde is also, and above all, a testimonial to expertise many centuries old, acclaimed throughout the world. Its priceless “terroirs” and vineyard properties with lots of character comprise a unique architectural heritage, an ode to a past which produced a wealth of manors, châteaux and master residences offering exceptional amenities. “For several centuries, the entire département was involved in the production of wine,” explains Pierre de Luzan, real-estate expert for the Mercure group in Bordeaux. “Historically, it was thus the land-owners who can be credited with building the finest estates. They mostly consist of large properties dating back to the 18th or 19th centuries, often built of pale stone masonry, and accompanied by outbuildings large enough to ensure production, past or present, for the adjoining vineyard. Due to sales or inheritances, it may well be that the property’s vines have been transferred or uprooted, especially near Bordeaux, sometimes leaving these properties with smaller parks. In the most prestigious “chartreuses” - a type of architecture widely present throughout the region -, parquet floors, Gironde floor tiles, wood panelling, monumental hearths and other decorative features have been preserved and are seen as real treasures. In other types of buildings such as châteaux, lofty volumes are given pride of place, but also the beauty and size of the surrounding park. These beautiful residences and châteaux can be found just about everywhere in the Gironde thanks to the richness of its vineyards, except south and west of Bordeaux, where the land is mainly given over to forests. Buyers of these top-notch properties are all fond of lovely old stone, beautiful settings and a certain refinement. Today, with the favorable evolution of fluctuations in currencies, the market is once again witnessing the arrival of foreigners, especially British, in search of a mild climate and the French art of living. We are also seeing couples taking up new professional activities and looking for better living conditions, and retirees wanting to welcome their grand-children and often disposing of purchasing power sufficent to acquire and maintain an asset of quality, after selling their properties in the Paris region. After several years of declines since 2007, especially in areas over 30 minutes from Bordeaux, prices now seem to have stabilized and the market is picking up.”
Another feature of this exceptional market is its clear division into two categories which do not target the same clientele : properties with vineyards, and properties without. For the first category, Chinese buyers have been center-stage for the past few years. The country with the fifth largest wine consumption in the world, China wants to play an active part in its production, as witnessed by the keenness of Asian investors for the Gironde. In the second category concerning purely residential properties, both French and foreign clients have backed off over the past few years due to the financial crisis and tax considerations. They are, however, slowly returning to the market, as Karin Maxwell, manageress of Maxwell-Storrie-Baynes affiliated to Christie’s International Real Estate, points out : “Over the past few years, the market for outstanding estates with vineyards has been very prosperous due the massive arrival of Chinese clients. Even today, they still account for over 50% of our sales in the wine-producing sector. Our communication strategy has been modified so that we can respond to this new demand from Asia : a Chinese person now works with us in the agency to handle this clientele. Otherwise, our presence in 138 countries worldwide is also an appreciable tool in terms of communication, to manage this confidential market which is also of interest to American, Australian and South African clients. For listed vintages, properties in this category post prices that can attain several hundreds of millions of euros, whereas properties without vineyards can be found from 1 to 4 million euros. These residential properties which appeal to French and foreign buyers have fallen victim to the crisis, though this spring, significant signs of recovery have restored life to this sleepy market. French, American and English clients are again in their starting-blocks, a high-end clientele often paying cash for beautiful residences offering luxurious appointments”.
