THE BASQUE AND LANDAISE COAST : A MEASURED RECOVERY

Following the post-Covid years marked by spectacular price rises, the market on La Côte Basque initially settled down before sliding into a real slowdown. As attractive as ever, the region has nevertheless kept all its appeal intact. Up-date with Serge Pilke, founder of the Terres & Océan agencies…

This summer, on the Basque and Landaise coasts, the first signs of an upturn announce a positive year for 2024 with encouraging prospects for the final quarter.

“Compared to the overall situation in France, our region has been relatively spared by the context, and results in our agencies for 2024 already promise to be better than those of 2023,” says Serge Pilke.

Located in Hossegor, this Basco-Landaise villa, listed as a “remarkable building” and designed by architect Robert Maurice in the 1930’s, benefits from extensive wooded grounds of over 2,000 m2 with a pool, pool-house, and views of the golf-course. Its living space of 350 m2 is comprised of a lounge, a dual-aspect living-room with a hearth giving onto a terrace, a separate kitchen, 8 bedrooms including a master suite, a study, dormitory, laundry room and cellar. A large garage completes the property. Vendu entre 4 et 4.5 M€.

After gaining experience in communication and advertising in Paris, Serge Pilke turned his attention to real estate. In 2003, he left the capital and settled in south-west France. Four years later, he founded the Terres & Océan agency in Hossegor, joined in 2016 by a second branch in Biarritz. Agence Terres & Océan, 37 avenue Maître Pierre, Hossegor (05 58 43 60 41) et 3 bis avenue François Mauriac, Biarritz (05 59 47 29 77). www.terresetocean.com

On a quiet street in the centre of Hossegor, this house of traditional construction, renovated by an architect in the years 2010, stands in grounds of 1,100 m2 with a heated pool. Its living space of 220 m2 is comprised of an entrance hall with a porch, a living-room, kitchen, a study and 4 bedrooms including a master suite. Car-port and garden shed. 2.700.000 €.

In Hossegor, on the top floor, this apartment of 90 m2 with a terrace of 45 m2 offers a superb view of the ocean and the Côte Basque. Parking place. 1.612.000 €.

In a quiet neighbourhood in Biarritz, offering a walk-everywhere lifestyle, this spacious apartment of 92 m2 is on the 4th floor reached by lift. It offers two bedrooms and a wonderful terrace. Box-garage. Vendu aux alentours de 900.000 €.

“We are convinced of the area’s high level of appeal, even though we are no longer seeing post-Covid euphoria which must definitely be buried from sight. Today, the market is seeking fair prices. We handled the sale of a house in Hossegor, in a neighbourhood certainly residential though a little far out, which had been over-estimated at the end of the Covid period and remained up for sale for over 18 months before finally changing hands for 20% less of the price initially posted ! Conversely, very high-end properties in the coastal sector have not been affected by the slowdown : in less than four months, we sold a superb Basco-Landaise villa, ideally located in the golf-course area of Hossegor, for over 4 million euros. Buyers’ profiles clearly now fall into two categories. Firstly, those who do not take the climate or political and economic uncertainty into account, but want to invest in bricks and mortar. Secondly, risk-averse, wait-and-see buyers who have plans but are afraid to position themselves on the market, given the context. Over the past few months, more relaxed conditions for obtaining mortgages should contribute towards reboosting the property market. Questions remain regarding new tax measures such as the IFI (tax on real estate assets) which may prove to be important.”