Biarritz, the most coveted address on the Basque Coast

The iconic capital of the Basque Coast, Biarritz embodies an art of living which draws many buyers in search of holiday homes and others hoping to live here year-round.

A seaside resort of worldwide renown, especially as a surfing centre thanks to its fantastic waves, Biarritz is spread out on a series of hills along the Basque Coast, not far from the border with Spain. Reached via the A63 motorway, the TGV station or Biarritz-Anglet-Bayonne airport, this town was highly popular among the aristocracy as early as the 19th century. It has preserved its bourgeois architectural heritage which includes many Art-Deco buildings, including the Municipal Casino surveying the famous Grande Plage. On this highly-prized micro-market, Biarritz’s properties post remarkably stable prices. A market revolving around personal enjoyment, mainly comprised of holiday residences which, depending on budgets, take the form of sumptuous villas and apartments offering a view or an address in a classy neighbourhood in the town centre.

“Biarritz is still the most sought-after address on the Basque Coast, giving a narrow market with activity extended over long periods of time,” explains Pierre Deglaire of Coldwell Banker which, with over 200 mandates in its portfolio (65 % houses, 35 % apartments) is the N°1 agency for prestige properties on the Basque Coast. The most widely sought-after property ? “An apartment in the town centre offering a beautiful sea view. Few are available, and those on the front row are extremely highly-prized. Depending on their appointments, they are priced from 8,000 to 12,000 € per sq. metre. Those further back, with a glimpse of the sea, are pegged from 6,000 to 7,000 € per sqm.” The second type of property in high demand is the town house in a prime location near the beach and shops. “There are lots of clients hoping to find a villa with a garden large enough to take a pool,” a property which is thus very rare. Facing very steady demand, homes meeting these very high expectations cost close on 2 million euros. By way of example, Pierre Deglaire mentions one of his latest sales, a bourgeois house of 250 m2 a few hundred metres from the town centre, which just changed hands for 1,500,000 €. “Here in Biarritz, everything sells. People aiming to acquire homes, for either holidays or year-round living, usually know the market very well. They prepare their decision and allow it to mature well in advance, which often takes a long time.”

Often, but not always, as demonstrated by the most recent sale completed by Olivier Hourcade, manager of the agencies Mer et Montagnes and Carré Ouest Immobilier in Biarritz. In the Espagne neighbourhood, not far from the centre, a house of 130 m2 to renovate with a garden of 700 m2 and a garage has just been snapped up by a French-speaking Swiss client who parted with 675,000 € on his first visit. “This house was on our files for 15 days at most. This type of “love at first sight” acquisition is rare, but also points to an upturn in the market, following a surprising setback throughout the winter. Normally, the property market in Biarritz does not depend on seasonal factors,” says Olivier Hourcade, whose clients mostly arrive with budgets of 350,000 to 400,000 €, hoping to find a large 1-bedroom apartment in a good location.

Based near Les Halles which were recently refurbished throughout, Olivier Bregeon, manager of the Globe Immobilier agency he acquired in 2006, has noticed growing interest in this neighbourhood. “Our clients include many Parisians, and a growing number of people from south-eastern France who like the congenial life-style in Biarritz, to the point of looking for their main home here,” says our estate-agent. “Lively every morning thanks to the local market and appreciated for the quality of its shops and rest­aurants such as the Bar du Marché and famous Bar Jean, the neighbourhood of Les Halles also has some charming apartments on offer. One example is a 2-bedroom ground-floor apartment with a small garden and parking place, priced at 420,000 €, another is a charming renovated studio of 20 m2 proposed at 125,000 €.” After the winter slowdown, Biarritz’s property market has clearly resumed its cruising speed with ever-rising demand for year-round homes. A new trend which certainly seems to be taking root.