THE APTLY-NAMED AGENCE D’AIX-EN-PROVENCE
For the past 18 years, Valentin Huc-Debat has been responsible for the destiny of this agency, with a team of 12 entirely devoted to sales in the capital of green Provence or within a 30-minute drive.
Historically, the region has appealed to the actively employed, from here or elswhere, motivated by a proposal from a company based in Aix, working for the ITER project, in Cadarache or with Airbus, and young retirees from northern France. Since the pandemic, teleworkers have arrived in significant numbers. A phenomenon now running out of steam : companies are backing off from the principle of teleworking, and banks are toughening up their mortgage conditions.
The local clientele is back in force. These buyers are mostly looking for a house of 250 m2 in grounds of 1,500-2,000 m2 with a pool, in good condition, a 15-minute drive at most from Aix-en-Provence, with a top budget of 2 million euros. They are attracted by Luynes, its international schools and proximity to the Aix-Marseille motorway network, Eguilles, a lovely village offering elevated views near the activity centre of Les Milles and the TGV station, or Saint-Marc-Jaumegarde, in the midst of nature yet not far from the centre of Aix. Other clients are looking for an upmarket 3-bedroomed apartment of 120 m2 in a residence with a lift, offering a terrace and a garage, a 15-minute walk to Cours Mirabeau.
A property rare on the market, fetching 7,500 to 10,000 € per sq. metre. Investors continue to target apartments with 1 or 2 main rooms in the hypercentre, benefitting from the presence of 40,000 students searching for rentals. This kind of property costing around 170,000 € can be rented out for 700 € per month. A yield of 4.5- 5 %, very few holiday rentals and sound guarantees explain the success of this sector. The market remains buoyant, though it is becoming clearer and more reasonable. Buyers reflect for longer, and bargain. However, to absorb the rise in interest rates, prices should have declined by 17 %. Something which will not happen. Some people, both buyers and sellers, content themselves with postponing their plans. One notable fact : they are all now focusing on energy performance. Contemporary houses benefitting from cutting-edge appointments are keeping their heads above water, and flawless properties in ideal locations continue to appeal. Clients from outside the region clearly prefer turnkey properties, especially as the cost of renovation work has also risen significantly. n
