The sixth largest city in France with 235,900 residents boasts a very lovely historic centre, popular with seniors in search of convenience, occasional residents from the Parisian region or even abroad, as well as investors, disenchanted by prospects on the stock market. Our experts fill in the details...

In June 2007, UNESCO hit the news by listing over 4,500 acres as part of its World Heritage locations, the most extensive urban site in its history. A breeze of renovation is already wafting over the capital of the Gironde, and the people of Bordeaux are rediscovering their town centre with renewed enjoyment. “The aptly named “Golden Triangle” stretches from the Cours de l’Intendance to Clémenceau and the Allées de Tourny, encompassing Place Gambetta and the Place des Grands Hommes, as well as the magnificent theatre, built between 1773 and 1780,” explain Valérie Pérault and Maïté Chustrac of Grisel Immobilier. The advantage offered by the neighbourhood lies in pedestrian access to all shops and amenities but also, and especially, the architectural quality of buildings dating back to the 18th century, whose facades have been completely revamped. Within the area served by the tramway, the municipality offsets the lack of garages by public car-parks with special rates for residents.

“Despite the crisis, prices are holding steady and there is a severe shortage of properties for sale,” add our estate agents. One can identify three types of buyers : ready to invest 500,000-700,000 € after recently selling houses requiring a lot of up-keep, people in their fities and sixties are looking for 3-bedroom apartments with a terrace and lift. A rare commodity in the Golden Triangle. Comfort and convenience are among their priorities. Still influenced by the UNESCO decision, Parisians and foreigners set their sights on pied-à-terre with one or two bedrooms. Investors stung by the stock market collapse yet capable of spending 80,000 to 250,000 € aim more for long-term assets than pure profitability, the latter not being very promising because of the high acquisition price. Our specialists mention the recent sale of a large 1-bedroom apartment in good condition on the Cours de l’Intendance, compensating for being on the third floor without an elevator by means of tasteful appointments, at 270,0000 €, an attractive second-floor apartment of 90 m2, also with-out a lift, offering two main rooms and refined shared premises on the Rue Esprit des Lois, at 400,000 €, and finally an ultra-contemporary apartment of 130 m2 in a building on Rue Voltaire, with a terrace, parking place and elevator, at 590,000 €. Some buyers are prepared to look at properties on the Cours de Verdun, Jardin Pub-lic, Pey-Berland or the docks, facing the Garonne, though the city centre still remains more popular than these neighbourhoods that are a little further out.

“The Malraux Act had a great impact on the area. Many renovations are simply cover-ups. And many properties need freshening up,” says Didier Bétend of the Cabinet Bedin. Sales are more complex than they were in the past. The need for transparency on the part of new buyers comes up against co-ownership regulations that have not always been up-dated and the tendency towards annexation of shared premises. “Given the fact that even modest surface areas are rare, people take an interest in maids’ rooms, attics and cellars.” Residents of other “départements” in south-west France, the Dordogne, Les Landes, Charente-Maritime and Pyrénées-Atlantiques, are attracted by the idea of living in the centre of Bordeaux when they get older. Similarly, expatriates originally from the region are also taking up position. The general enthusiasm can be explained by good connections with the outside. The Golden Triangle also inspires a novel approach : some buyers focus their attention on a particular street, the aura of an address and the guarantee of a “good neighbourhood”. This is true of the Cours du Chapeau Rouge, at the edge of the area and a prolongation of the Cours de l’Intendance, characterized by a serene setting opening onto the river, and the Place des Grands Hommes, known for its exceptional architecture. On the outer boundary, one also discovers a few new developments. “90 % of technical surveys in old buildings reveal lead, but not at dangerous levels. These regulatory changes form part of a market-oriented logic,” notes Fabrice Révolat of Révolat & Associés. “Today, people expect estate-agents to show a certain shrewdness in all areas, carry out preparatory work and provide comprehensive information. Especially as we work in a protected area, governed by stringent town-planning regulations.” Each building is, for example, refurbished every ten years, as per a schedule available from the town-hall. During the months of so-called crisis, real-estate professionals played the regulations game in total transparency. A tense business climate, reported by the media in 2009, acted as a safety rail. If the press now shows less insistence, it would be wise to remain on one’s guard throughout 2010. However, all our estate-agents unanimously express real optimism : demand remains steady. Only 10 minutes by tram from the railway station, the Golden Triangle could benefit from the launch of the high-speed service, scheduled for 2016.