Biarritz, survey of a stable market

The birthplace of surfing in Europe, Biarritz is still the most prestigious seaside resort on the Atlantic coast. With its thalassotherapy centres, golf-courses, its “palace” and remarkable architectural legacy, Biarritz continues to be a dream for many French and foreign buyers, including a growing number of the actively employed who are making it their permanent home.

“I know of no other place more charming or magnificent than Biarritz,” wrote Victor Hugo about this small seaside town built on a succession of hills along the coast. Well before the fashion for surfing, Biarritz was known as the “queen of beaches and beach of kings”, popular, among others, with Napoleon III who married Empress Eugénie here in 1853. Not surprisingly, Biarritz boasts a lively property market with stable prices, underpinned by properties highly-prized as second residences. After a year 2016 posting a very high number of transactions, availabilities are visibly shrinking. Today’s buyer needs to be pa­tient, especially if targetting the seafront or town centre.

Based in the neighbourhood of Les Halles in Biarritz, the Globe Immobilier agency directed by Olivier Bregeon applies its expertise to all of the town’s most sought-after areas. “Offerings are scarce in the face of very steady demand. Buyers in search of an apartment with an outdoor area and parking place have to bide their time.” Prices remain stable but strong : they are rarely negotiable if the property has many assets, even less so if it is located in one of the highly-prized neighbourhoods where everything can be done on foot. “An apartment in good condition and in a good location currently costs from 4,000 to 6,000 € per sq. metre,” explains Olivier Bregeon, mentioning by way of example an impeccably renovated property of 60 m2 in the sought-after Beaurivage neighbourhood. Proposed with a large cellar, it is on offer at 368,000 €. Another irreproachable 2-bedroomed apartment of 65 m2 on the 3rd floor of a building without a lift, next to Place Clémenceau, is up for sale at 420,000 €.

”The market in Biarritz is clearly experiencing real buoyancy in all its segments,” confirms Serge Pilke of the Terres & Océan agencies. “Even in the winter period, usually rather quiet, enquiries keep coming in and lead to visits by serious and highly motivated buyers, wanting to sign on the dotted line as quickly as possible. We are also seeing a comeback on the part of Spanish clients, and wealthy buyers focusing their searches on properties from 1 to 2.5 million euros.” One of the transactions orchestrated by Serge Pilke over the past few weeks involved a 2-bedroomed apartment of 65 m2 in immediate proximity to the Côte des Basques. In good condition and benefiting from a pleasant balcony, it sold for 370,000 €. A 19th-C. property comprised of two charming houses in need of rehabilitation, the main one of 220 m2, in a lovely park of 5,800 m2 in an outlying neighbourhood in Biarritz, has just found a taker at 830,000 €. “Many transactions have been completed over the past few months : offerings of large apartments in the town centre and houses in good locations are becoming more scarce, whatever their style, either traditional or contemporary.” Confident for 2017, Serge Pilke explains : “Indicators are all positive. Even though election years are often synonymous with a wait-and-see approach, Biarritz does not seem to be affected

by such an attitude”.