The economic, administrative and cultural capital of the Basque country is home to 45,730 residents, 200,000 within the greater urban area, and 230,000 in the metropolitan area it comprises with Anglet and Biarritz. The River Nive flows through the centre of the town, in front of the new theatre, offering picture-postcard scenery.

Centuries-old houses rub shoulders with the riverbanks, châteaux, museums and Citadel. Military, civic and religious monuments cover an underground town whose origins date back to the Middle Ages. From this era, over 130 caves still exist. The town is deeply fond of its traditions, including the “corrida”, Basque “pelote”, rugby, rowing, and its five days of merry-making organized each year in August. Between the forests of the Landes and the Pyrenean mountains, it flaunts its pride in its motto, “Jamais souillée”. Bayonne plays host to the Chamber of Commerce and Industry, a TGV station, 24,000 m2 of commercial premises and several schools and colleges. The historic part of town is shared out between the Saint-Esprit neighbourhood - an enclave built in the 12th century, where the first bull-running events were held -, Le Grand Bayonne - whose houses on pilings with arcades and half-timbering in red, brown, green or blue, are among the loveliest in the town -, and Le Petit Bayonne - a lively and popular neighbourhood.

“Fans of apartments head for Foch/Arènes, an area with a well-established reputation, quiet, with shops, and close to the centre,” says Florence Lafragueta of Square Habitat Foch. “It’s then a matter of taste whether they opt for high-class residences in Foch or bourgeois houses split into apartments in Arènes - both pegged from 2,800 to 3,800 €/m2. Here, well-off families live alongside seniors happy not to need a car.” Priced from 2,200 to 3,000 €/m2, Le Grand Bayonne is popular among first-time buyers keen on the town centre and its authenticity, while Le Petit Bayonne, mostly given over to students, is naturally of interest to rental investors. Yield ranges from a modest 3 to 5 %, but they are reassured by sound long-term value. Over the past few months, a prudent return to bricks and mortar has been evident from one day to the next. Marracq/Beyris, to the south, appeals to active parents. Very quiet and offering easy access from the various pools of employment, this area also benefits from junior, intermediate and secondary schools. Residences in wooded parks, with parking facilities and terraces, range from 2,300 to 3,000 €/m2. Finally, Saint-Esprit and Bayonne north propose affordable prices of around 1,700-2,500 €/m2, to the taste of young purchasers and investors. The building of new residences, mainly to the north and east of Bayonne, and the delivery of a few developments in the centre, have had no effect on prices and the pace of sales for older apartments. Over the past two months, 90 % of the transactions orchestrated by Square Habitat have concerned apartments, with individual houses very scarce on the market. Eight of these apartments were acquired as main homes, five as investments and two as second residences. The core of activity ranges from 190,000 to 220,000 € - the latter bringing a 2-bedroom apartment.

Based near the town-hall, Olivier Hourcade of the Agence Hourcade works almost exclusively with fans of central addresses, generous surface areas and stylish architecture. They all pay particular attention to the building’s charm and up-keep. They appreciate turn-key apartments and the margin for appreciation following renovation. On their very first visit, a self-employed couple wanting to move to Bayonne paid 300,000 € for an apartment of 120 m2 in need of a revamp, facing the River Adour. Still within the perimeter of Le Grand Bayonne, another couple with a similar profile paid 4,000 €/m2 for an apartment of 150 m2 in mint condition, on the 5th floor of a building offering a 180° view of the Cathedral and river. One of these buyers intends to devote one room to his professional activity. Finally, clients born in the town but currently employed in the DOM-TOM acquired an apartment of 100 m2 to restore, facing the Pyrenees, in a well-known 1970’s residence with a concierge, for 330,000 €. 50 % of the transactions recently handled by the agency were motivated by the desire to convert savings previously held in bank accounts into property investments. In a tense business climate, these purchasers wanting to diversify their portfolios give priority to long-term rental potential combined with a sound investment.