Saint-Jean-de-Luz : scarce offerings
By Laetitia Rossi - 22 March 2013
Nestling at the edge of a bay sandwiched between two promontories at the mouth of the Nivelle, this commune in the Pyrénées-Atlantiques offers a coastline 7.5 km long facing the ocean. Hardly more than 14,000 residents share the 4,705 acres comprising its territory, just south of the Basque coast.
Equidistant from the Biarritz, Anglet, Bayonne agglomeration and the Spanish border, Saint-Jean-de-Luz benefits, together with Ciboure, from a large stretch of water covering some 593 acres, overlooked by the listed hill of Sainte-Barbe. Highly-prized, the centre gives precedence to Basque architecture. Built in the 17th century, it is laid out around Place Louis XIV and the harbour. The Church of Saint-Jean-Baptiste recalls a rich past, a time when King Louis XIV married the Spanish Infanta, Marie-Thérèse. Saint-Jean-de-Luz owes much of its appeal to nature. Its sports and leisure facilities - the golf-course and thalassotherapy centre - contribute to the popularity of the seaside resort. 90 % French, the clientele is also comprised of a few fans from Great Britain, Spain, Belgium and Germany.
Nicolas Descamps of Côte Ouest Immobilier Christie’s, an agency specializing in the prestige sector, tells of very steady demand for apartments of at least 90 m2 within walking distance of the centre, with a garage, terrace and preferably an ocean view. Worth from 700,000 to 900,000 €, this type of property is becoming rare. As are houses of 150 m2 or more, within the same perimeter, in Aïce-Errota or Sainte-Barbe, priced from 900,000 to 3 million euros. A combination of all these criteria does not, however, justify an over-valued estimate. Informed about the market, potential purchasers will not pay over the odds. The majority are ex-pats, looking for a home where the family can be united, sheltered from the ocean waves, or young retirees from large cities, keen to spend four to eight months in the town. Very often, the heart of Saint-Jean-de-Luz posts prohibitive prices for locals, obliged to find homes on the outskirts unless they have a property to sell.
Caroline Laffontan of Laffontan Immobilier focuses on so-called “properties of charm”. Among her latest transactions, she mentions a through apartment of 87 m2 (Carrez Law), refurbished throughout as new, with three bedrooms and a large lounge, acquired by Parisians as a holiday home for 590,000 € with hardly any bargaining. Basque ex-pats looking forward to retirement then bought an apartment of 108 m2 in the Villa Mazarin, between the Quai de l’Infante and the beach - a listed building, rehabilitated and split into three units including two for residential purposes. They spent 1,060,000 € in exchange for top-quality appointments. Property hunts are often solely restricted to Saint-Jean. Clients have family, historic or affectionate ties with the address, and appreciate the friendly village and the feeling of security and serenity. “Here, there’s no ostentatious luxury, but a simple, pleasant life-style concentrating on water-sports.” As soon as a property of comfortable size boasts a panoramic view of the bay, it costs around 1 million euros in the case of apartments, 1 to 1.4 million in the case of houses. Many buyers do not need a mortgage. The only fly in the ointment is the scarcity of availabilities. With the change in legislation on capital gains, owners are withdrawing their properties from the files, preferring to hold on to them rather than sell and pay tax. “In the current climate, characterized by a crucial lack of visibility, both parties, buyers and sellers, are more than ever in need of information and professional advice,” says Caroline Laffontan.