Arcachon : a sought-after market of quality

A seaside destination very popular among the French, Arcachon has enjoyed success for the past 100 years which is very unlikely to fade. A busy market with steady prices, proposing in particular prestige properties with lots of charm.

A seaside resort facing the Atlantic, highly-prized since the late 19th century, Arcachon (pop. approx. 12,000) enjoys an outstanding setting between the ocean and forests. Offering among other things a large yacht harbour, a casino, an efficient TGV station and a new hospital, this “town for all seasons”, lively year-round, is a very enticing market for holiday homes. An address where demand outstrips supply, and which will also benefit from a new LGV connection in 2017, placing it only 2 hrs 30 from Paris (versus 4 hrs 30 today).

The property market thus posts prices which are inevitably steady and indeed high. “In the town centre, apartments cost 4,500 € per sq. metre, or from just under 6,000 to over 7,000 € in new residences,” says Pascal Videau, manager of the Agence du Bassin, an Arcachon agency set up in 2012, specializing in the sale of new properties. “As for apartments on the seafront, they sell for up to 10,000 € per sqm. Most demand is for 2- and 3-bedroomed apartments. The buyers are seniors who sell their houses around the Bassin to be closer to the centre, and people from the Paris region looking for holiday homes which will become their permanent addresses when they retire.” As for houses, small pieds-à-terre of about 60 m2 in need of restoration fetch over 250,000 €, while villas of 100/110 m2 requiring a revamp are proposed from 600,000 to 700,000 €. “Some good opportunities are also to be found in neighbourhoods on the outskirts of the centre, more accessible, such as L’Aiguillon,” adds Pascal Videau. In this market sector comprised of period properties proposing very different styles and levels of classiness (Landaise, Basque, Moorish, Anglo-Chinese influences...), his clientele consists of 30 and 40 year-olds in search of second residences and retirees living here year-round.

“After a relatively quiet winter marked by a wait-and-see attitude, the market in Arcachon has seen a real turn-around in activity since the month of February. Prices are remarkably steady and properties of quality maintain their high values,” notes Nathalie Foulon, manageress of the Agence Carnot Immobilier, founded at the heart of Arcachon in 1967 (taken over in 2004), and two other offices in the Abatilles neighbourhood and the neighbouring commune of La Teste-de-Buch. Among her latest sales, our specialist mentions a 1-bedroomed apartment of over 40 m2 in good condition, in the centre, priced at 260,000 € (with parking place), a house of 180 m2 to renovate in Les Abatilles with a garden of 700 m2 at 530,000 €, and a villa of 150 m2 designed by an architect, in grounds of 800 m2 with a clear view of the shore, at 900,000 €. “New apartments, whose offerings have risen these last few years, sell on average for 6,000-7,000 € per sqm. Building plots are, however, very rare. You usually have to demolish an existing home to free up the land for a new build.” 80 % of Nathalie Foulon’s sales involve holiday homes. “With substantial budgets, our clients mostly come from Paris and its surrounding region. Otherwise, they come from Périgueux, Nantes or even Bordeaux.” Foreigners only account for 5 to 10 % of her clientele.

“For a good many years, the Bassin d’Arcachon has been witnessing real expansion,” says Juliette Guérin, manageress and founder of Arcachon Coaching Immobilier. “The town chalks up one of the highest growth rates in the Gironde. To meet this high demand, new developments preserving the Arcachon style, a testimonial to its glorious past, have risen from the ground. It is within this context that ACI decided to open an agency in Arcachon in 2008. In partnership with developers selected for the excellent level of their achievements, we specialize in new properties around the Bassin. This market attracts investors who often decide to keep their properties as holiday homes at the end of an operation originally targetting tax benefits.” The agency also orients its activity towards outstanding properties (villas at the water’s edge or with a view of the Bassin, luxury apartments, prime locations…). “Due to the high prices of seafront or top-floor apartments with large terraces, we receive enquiries from a very demanding clientele : most of the buyers sell their villas to move into a comfortable apartment with easy maintenance. Though, thanks to regular rail connections with Paris, we also deal with many seniors looking for year-round or semi-permanent homes.”