“We are seeing a turnaround in the market which began a year ago. Initially resulting in a sharp fall in sales volume which, over the past few months, has inevitably led to a decline in prices ranging from 15 to 30 %, depending on the type of property and its location - urban and seaside markets are suffering less than the so-called countryside market. Even so, on La Côte Basque, the market for properties of quality is still marked by scarcity as offerings are few and far between.”
Arcangues : the right time
Radia Amar - 23 November 2023
Unquestionably one of the loveliest villages in the vales of Le Pays Basque, Arcangues is particularly well-known for its golf-course prized by players all over the world.
Together with Arbonne and Ahetze, Arcangues benefits from a peaceful, green environment. These charming communes offer buyers a laid-back lifestyle near flagship communes in Le Pays Basque. With its golf-course and famous château, Arcangues is the most sought-after commune in the area.
Here, substantial houses in Basque style, often with generous volumes and enthroned in vast grounds, are available at prices lower than those found in Biarritz which is, however, within easy reach. Focusing for the past 20 years on quality real estate in Le Pays Basque, Paris, Bordeaux, Provence, and on the Côte d’Azur, Benoît Verdet created the Prestant Realty agency with the aim of giving priority to high-quality advice rather than a purely commercial approach.
This observation is, however, not at all alarmist.
“We have just returned to pre-COVID prices, which is an opportunity to buy,” says Benoît Verdet. “I have been deeply acquainted with the market on La Côte Basque for the past 20 years, and this is the first time I have seen prices fall in these proportions.” Buyers are looking for advice to assist them when faced by a market which has become so confusing. They now aim for a price lower than those on offer, often still remaining too high as they are based on models applicable six months ago. In fact, the market is definitely seeing a turnaround, a statement based on several examples, and a sound observation on the part of Prestant Realty. Lower prices also coincide with the rise in interest rates. More than ever, the quality of intermediary expertise is essential to the orchestration of a sale, successful for all parties concerned. “The pandemic triggered a euphoric frenzy. We are now seeing regularization based on reason. The market is becoming healthier. It is indeed the right time to acquire a property on the Côte Basque ! It is also a good time to sell, on condition that you are prepared to sell at market price.”