The ultra-dynamic market of the French Basque Coast
Launched in May 2010, the Barnes Côte Basque agency specializing in sales and rentals of high-end properties and directed by Philippe Thomine-Desmazures has extended its expertise from Biarritz to Hossegor via St Jean-de-Luz. With extensive experience in a property market encompassing a wide area, Astrid Barsacq, a partner in the three Barnes agencies, shares her view of this buoyant period.
Providing properties for both personal enjoyment and sound financial investments, the real-estate market on the French Basque Coast continues to draw more and more buyers appreciating the lifestyle of this region offering so many assets. Flashback on a record year 2019 with Astrid Barsacq, a partner with Barnes Côte Basque : “Over the past five years, the Basque Coast has beaten records in terms of both prices and sales volume. The peak observed in 2019 is a phenomenon also seen at national level, with exceptional enthusiasm for investment in real estate. In this region, a 9% increase in sales was recorded in 2019 and prices are on the rise, especially in Biarritz, where they soared by over 19% over the past two years. In our three agencies, we mainly deal with a clientele in search of holiday residences. A clientele comprised of buyers from Paris, Bordeaux, Toulouse, and a significant number of ex-pats. As for our international clientele, Belgian, Swiss, Swedish and English buyers are widely represented on the market. The dynamism behind sales and the strong demand seen in the region have led to a scarcity of quality properties : there are fewer availabilities and the market is stretched. The most common requests are for houses or apartments at the heart of town centres, allowing for a walk-everywhere lifestyle. We recently sold a private mansion of 300 m2 in the centre of Biarritz, facing the Jardin Public and benefiting from a lovely flowery terrace, priced at 2,490,000 €. Views of the sea are as popular as ever, and cost a lot, while the nearby countryside (Arbonne, Arcangues, Ahetze), until now slightly ignored, is regaining interest on the part of buyers who appreciate its quietness and the architecture of its houses”.
Barnes Biarritz, 2 Place Bellevue, Biarritz (05 59 51 00 00). www.barnes-cotebasque.com