Aix-en-Provence, a multifaceted market

Radia Amar - 08 July 2016

Just 26 km from Marseille, the historic capital of Provence benefits from unfailing liveliness and attractiveness. Its property market consists of apartments intra muros, prestige properties, and detached houses on its immediate outskirts. An overview…

overview… “Aix’s property market has been very lively since the end of 2015,” enthuses Laurent Creuset of ERA Comté d’Aix, an agency specializing in the town centre and its immediate surroundings. “Most of our buyers are locally employed, often moving up the ladder with their second acquisition. Encouraged by stable prices and mortage rates that are still very appealing, many of them are carrying out their plans successfully.” In the centre, prices for apartments start from 5,000 € per sq. metre, as illustrated by a 1-bedroomed apartment of 48 m2 in a good location, which sold very quickly for 240,000 €. Another 4th-floor apartment of 52 m2, without a lift, found a taker at 336,000 € agency fees included, as it benefited from a pretty terrace overlooking a square. “A highly-prized asset which immediately adds to a property’s value.” Playing host to blocks of apartments built in the 1960’s and 1970’s, the southern part of Aix suffers from a lack of interest. With their obsolete appointments and a reputation for high energy costs, they no longer meet today’s requirements. Clients now prefer recent developments such as those located more to the west of the town. What about houses ? “If they are offered at market price, they sell immediately.” By way of example, Laurent Creuset mentions an enviable example in the Clinique Rambot neighbourhood, which sold within one week for 1.2 M €. “It is, however, still hard to get our estimates accepted by sellers who still tend to overvalue their homes. Which results in many properties staying on the market for up to several years.” On the outskirts, the communes of Puyricard and Bouc-Bel-Air attract families who can buy homes here from 400,000 €.

If they still cannot find their heart’s desire, many local families decide to build detached houses meeing their specific needs, especially in the sought-after areas of Puyricard and Célony. With demolition costs ranging from 10,000 to 20,000 € and the scarcity of building land, some are ready to raze a house to the ground in order to build a new one. Sound properties with good energy ratings appeal to a family clientele ready to spend around 1,800-2,200 € per sqm., in addition to the price of the land, to obtain a high-quality home like those built by Mas Provence, a local construction firm with 45 years’ experience. “On average, we build about 200 houses a year all over the Provence Côte d’Azur region and in part of L’Hérault,”explains Frédéric Corbet, director of the agency in Aix-en-Provence. “We benefit from the “Maison Saine” label guaranteeing our very high standards in terms of environmentally friendly materials ensuring healthy and high-quality homes for their occupants.” Light and airy, houses built by Mas Provence are easily identifiable for the quality of their construction. Each one is unique, designed by in-house architects to meet the buyer’s wishes and life-style. “We build both traditional homes and contemporary houses. Most of the villas offer living space from 120 to 160 m2 , though we have also designed properties of 350 m2”. With a clientele that includes many senior employees of Airbus or Cadarache, Mas de Provence also offers a signature guaranteeing easy re-sales, a weighty argument for these engineers frequently transferred to other locations. Building times ? “From 15 to 18 months, from signature of the contract to delivery of the home.”