“The supply of high standard real-estate in Bordeaux tends to broaden, without however causing prices to drop”, says Adrien Desmulliers, managing director of Maxwell Properties. According to Cédric Fourteau, co-founder of the Ateliers, Lofts et Associés agency, “Buyers know that they now have the upper hand: those who are in no hurry wait for a good opportunity, and those who want to buy immediately always negociate, and make offers at -10 %”.
It is true that transactions have become slower, reaching an average of 4 to 5 months, because the sales are more thought over. “But if the price is correct, that the services are of a good quality, ideally with a terrace and large volumes, and the location good, the product will sell quickly, even if it needs major work”, asserts Cédric Fourteau. The capital of the Gironde is full of ancient apartments that have been tastefully restored in the past five to ten years and are now to be found on the market. In the city-centre, the most prestigious products go for 3,500 to 4,500 euros per square meter. And prospective buyers also look around the city itself, provided they find a location that is well connected and easy to commuty by rail or air.
3 Questions to… Anne-Valérie Deveze
Head of the Demeures & Vignobles Sotheby's International Realty agency
1. How fares the high-end market in Bordeaux?
We see less transactions, but no decrease in prices. On the contrary, the transactions we do see are scaling up! We are used to sales of 800,000 to 1.2 - 1.3 million euros. But these past few months, we have been receiving requests from clients interested, in the Gironde, by products worth three millions euros.
2. How can you explain this phenomenon?
Bordeaux is starting to give the image of a touristy city, a worthwile investment. There is also a current migration of population from the North of France to the South, and from the East to the West, even from Côte d'Azur to the Atlantic coast, where life is quieter and the climate nicer.
3. Is Bordeaux attracting a foreign clientele?
There are few foreigners. We take care of our clients to the best of our ability: we meet them at the airport, make hotel and restaurant reservations for them, we sometimes hire an interpreter or even rent a helicopter to visit the surrounding region more efficiently. We usually keep excellent relations.
The rating
The villas
Ancient: from 3,500 to 6,500 euros/ m2
New -
Bordeaux offers beautiful products in several areas. The few town mansions that find their way onto the market go for 2 to 3 millions, provided they are in good condition, with garden and parking space. The the Quartier Caudéran, near the park of Bordeaux, an elegant 19th century bourgeois home of over 400 m2, has sold for 2.5 millions euros. In Saint Genès, a 370 m2 villa, with 7 bedrooms, a swimming pool, and a 200 m2 garden, just went for 1.260 million euros. The popularity of Saint Augustin, with its village atmosphere, is still palpable. A beautiful freestone house with 4 bedrooms, a swimming pool and a 800 m2 garden was bought there for 800,000 euros.
