Biarritz, all set for an upturn !

Radia Amar - 03 January 2025

A flagship address in the French Basque country, Biarritz is still seen as a prized address whether for a permanent or holiday home. Biarritz and its well-known neighbours on the Côte Basque stand out for their highly appealing lifestyle. A sound investment…

After several years constantly on the upward slope followed by a lull, the property market on the Co^te Basque is showing signs of stabilizing, or even recovering. The current trend is marked by renewed interest in all categories of homes posting the most well-reasoned prices. Strict regulation of seasonal rentals has also led to demand focusing on long-term projects rather than quick-income rental investments : a real game changer. More details from a professioal in this sector.

Based at the heart of the neighbourhood of Les Halles for over 20 years, the Agence Globe proposes a varied choice of properties in Biarritz and on neighbouring communes : Arcangues, Arbonne, Anglet, Saint-Jean-de-Luz... "The worst seems to be behind us," says Manager Olivier Bregeon. After 2023, a year characterized by calmness long unseen in Biarritz, 2024 has witnessed a gentle, gradual recovery.

"Thanks to the decline in interest rates and more supple conditions for the granting of mortgages even though a significant deposit remains essential, transactions are picking up."

Since the introduction of new regulations for short-term rentals in the Pays Basque, the Agence Globe's property portfolio has been enriched by numerous "small" properties : studios and apartments with 1 or 2 main rooms, put up for sale by rental investors feeling the impact of this new situation. "It is no longer profitable, so they prefer to sell rather than opt for a long-term rental, due to rent control," explains our professional.

"The market is changing. On average, prices on the Côte Basque have fallen by 15 to 20 %. All kinds of buyers are making a comeback. The transactions we are orchestrating involve main or second homes for a French and foreign clientele, including several recent buyers from Belgium. However, property dealers who acquire, renovate and re-sell villas no longer see the profitability required, between the rising cost of renovation and lower re-sale values. We therefore imagine that it will soon become rarer to find fine, turnkey properties, renovated and decorated to suit today's taste."

As an example of his properties currently offered for sale in Biarritz, Olivier Bregeon mentions a 2-bedroomed apartment of 56 m2 with a private garden, parking place and cellar. In a gated residence at the upper end of the Bibi neighbourhood, this property to fall for is currently proposed at 545,000 €.