Biarritz, the popularity of the neighbourhood around Les Halles

With its cosmopolitan atmosphere, Biarritz is the N°1 address on the Atlantic coast. Demand for apartments in its hyper-centre is very steady, and today the neighbourhood of Les Halles wins the most votes…

Fabulous scenery, elegant architecture, beaches much appreciated by families and surfers… Biarritz certainly has lots to offer. Its economy focuses on tourism, sport and thalassotherapy. Mainly drawing a French clientele, its property market is evenly balanced between year-round and holiday homes. Close to a full array of amenities, shops, restaurants and the beaches, the lively neighbourhood of Les Halles (the town’s colourful indoor market) appeals to those looking for a “walk-everywhere” lifestyle.

“The most frequent enquiries are for 2-bedroomed apartments from 70 to 80 m2, ideally benefiting from a terrace and parking place, in the centre, close to the beaches and Les Halles,” says Didier Lépinoux of the Bliss & Foch agency. Mostly with budgets of around 500,000 €, buyers are confronted by limited availabilities. “Faced by an evident scarcity of properties meeting all their requirements, clients gradually adapt to the market and agree to make concessions on one or more points, though a central location remains at the top of their lists,” says our specialist who, by way of example, mentions among his most recent sales an apartment of 72 m2 in the centre, in need of refurbishment. Benefiting from a parking place and a terrace with sea view, it just sold for 640,000 €. Another apartment of 80 m2 in exceptional condition, on Rue de la Poste, on an upper floor (with lift) and benefiting from a balcony, found a taker at 550,000 €. “Even though offerings are scarce, only properties proposed at market price sell within a reasonable length of time. And scarcity does not affect prices in Biarritz, which tend to remain stable.”

According to Martine Velle Limonaire, manageress of Chiberta Immobilier with agencies in Biarritz and Anglet : “2016 looks as if it will be a busy year. Transactions are going through, even if the new provisions laid down by the ALUR scheme tend to slow down certain steps in the proceedings. Our clients are French, from the Parisian region and northern France. Most of them are looking for apartments in the centre, around Les Halles. They want their holiday homes to enable them to do everything on foot. Very knowledgeable about the market, their budgets correspond to the prices sought by sellers and, most of the time, they do not need mortgages. The only problem lies in the scarcity of offerings, in the light of such strong demand.” Martine Velle Limonaire has just orchestrated the sale of a 2-bedroomed apartment of 70 m2, in need of a revamp, on the top floor of a pretty residence at the heart of Les Halles. Completed by a cellar and a view of the ocean, it changed hands at 360,000 €. In the centre, the average price of apartments lies somewhere between 5,000 and 5,500 € per sqm, depending on the property’s precise location and condition. A view of the sea can make estimates rise to 7,000 € per sqm, or even more for outstanding properties on the first row. “Despite this steady demand, some properties are posting slightly lower prices. Certain offers which would have been rejected previously are now being accepted.”