Saint-Jean-de-Luz : highly-prized heart of town
Radia Amar - 17 July 2014
Facing the ocean, Saint-Jean-de-Luz is one of the most prestigious seaside resorts in the Basque country. Successfully preserving its soul and traditions, it is widely appreciated for its strong personality blending tranquillity, an enviable life-style and a rich historic heritage.
Over the years, this former whaling port has become a chic seaside resort of international renown. Here, occasional residents and year-round inhabitants benefit from a superb setting between nature and the ocean. Golf, surfing and water-sports can be enjoyed year-round, as well as pleasant strolls and shopping - even on Sundays - in the now pedestrian heart of town. It is, in fact, this central neighbourhood which is the most highly-prized, after the seafront.
“Demand remains very strong for apartments in the town centre, especially if they offer a sea view. On average, prices on the front row range from 10,000 to 12,000 € per sq. metre,” explains Ramine Nouri, manager of Côte Basque Immobilier. In the centre, prices are less prohibitive, but still attain very high levels. As demonstrated by a sumptuous apartment of 105 m2 benefiting from two garages, a cellar and private lift. Refurbished as new and enjoying lots of sunshine, it is currently up for sale at 720,000 €. “We are now seeing differences in prices which favour houses in the Saint-Jean area. We are getting an increasing number of requests for villas in good locations offering sound assets such as generous surface areas within walking distance of the beaches and shops. And our clients are often looking for houses to renovate, so that they can transform them to suit their taste. The aim is not to exceed 900,000 € including the acquisition, fees and conversion,” says Ramine Nouri, citing as an example a light and airy villa of over 220 m2, built of concrete in the 1970’s. Set in 1,000 m2 of well-oriented grounds on Rue Estienne d’Orves in the Ibignarry-Sansu neighbourhood, it just found a new owner at 650,000 €. Once renovated, the total cost of this acquisition will be over 1 million euros, a threshold which has become a real barrier. “This type of home, in the 600,000 to 700,000 € bracket, sells very quickly.”
The same observation is made by the Groupe Carmen Immobilier. “Demand is very steady for the centre of Saint-Jean. Clients hoping to spend their retirement here prefer to get on a waiting-list - sometimes involving several years,” says Stéphane Ortiz, who handles this neighbourhood. “Most of them have family ties here or are looking forward to embracing the village’s life-style.” The result is a scarcity of properties, especially on the most sought-after roads. “We have just sold an outstanding property in the centre at over 10,000 € per sqm : only a short while ago, this price level was only attained by front-line properties facing the ocean,” comments Stéphane Ortiz. On the other hand, younger buyers are quite happy to consider the plateaux of Urrugne, offering lovely views of the mountains, or Ascain, both about 15 minutes from the centre. “In these areas, there are lots of contrasting offers. A good many properties are proposed between 400,000 and 600,000 €, a bracket too high for the budgets of local buyers. So-called desirable properties are worth around 1 M €, corresponding to the budgets of clients in search of top-notch appointments and lots of space, who are now rather thin on the ground.”
“In fact, the centre of Saint-Jean-de-Luz is a very narrow market which is not extendable,” points out Pierre Deglaire, manager of the Coldwell Banker agency. “Our role now is to guide future buyers towards neighbouring markets, often little-known, though they offer considerable advantages : quiet leafy settings, views of the sea and walking distance to the beaches and centre. We recently sold a villa of 210 m2 to renovate with a charming garden and a pool in the Aïce-Errota neighbourhood, a few minutes’ walk to the beach. It was acquired for about 1,200,000 €. The markets in Urrugne and Ascain are given scant attention, yet they are sound investments for the future. With prices now posted from 3,500 to 6,000 € per sqm, properties on these communes are bound to gain in appeal over the coming years.” Pierre Deglaire is also confident about the market on the hill of Ciboure Bordagain where one can find both apartments and houses, some offering beautiful views of the ocean. “Buyers do not pay enough attention to this quiet and well-preserved area, from which one can walk to the centre and the beach. Prices here currently range from 5,000 to 7,000 € per sqm for homes of real quality.”