Bordeaux, a thriving market

The appeal of the capital of the Gironde remains at its peak. Even more importantly, since deconfinement in June, Bordeaux stands out as a city ideal for both living and working.

An observation that is far from new. The people of Bordeaux love their town, Parisians dream of moving there. Bordeaux is in fact ranked among the most sought-after addresses in France scoring a higher inflow of actively employed residents each year. Less than 2 hours from Paris by train, it is also near the ocean (Arcachon is not far away), and the Nature Park of the Landes offers wonderful opportunities for excursions. To which one can add the region’s prestigious vineyard estates, a very lively cultural life and local policies aimed at drawing enterprise, investors and talents. A privileged lifestyle, dynamism and economic appeal continue to boost a property market that professionals in the sector see as likely to progress in the coming months.

After the Covid-19 healthcare crisis, Bordeaux is showing fresh liveliness. The city is as attractive as ever : its property market has not collapsed, far from it, interest rates for mortgages are still low, and bricks and mortar are seen as a safe haven more than ever before. As confirmed by Nathalie Andria Baugé and Pascal Boulonne of La Bordelaise de l’Immobilier : “In spite of everything, demand has risen. People working from home in Paris and its surrounding region are looking to acquire a property offering a more comfortable lifestyle in easily accessible provinces with good connections, such as the centre of Bordeaux. They give precedence to spaciousness and their surroundings. As in the past, buying a house or an apartment is still a life-changing project and many of our clients are looking for permanent homes”. While rational thinking is essential and there are more visits than before, these two estate agents are fully convinced : “We will not see a slump in the market, that’s for sure. All the lights are green for go. Bordeaux is not seeing a property bubble and, as long as sellers remain reasonable, sales can look forward to a rosy future”.

Based in the Grands Hommes neighbourhood since 2013, Barnes is pursuing its development by opening a second agency in Le Bouscat, at 56 avenue de la Libération. Comprised of 14 consultants, its team handles a large portfolio of high-quality properties in Bordeaux and highly-prized communes. “Despite the confinement period, 2020 is proving to be positive for us, even showing increased activity as compared to 2019,” says Aymeric Sabatié-Garat, Associate Manager for Barnes in Bordeaux. “Our clients are focusing on real estate more than ever before.” The more systematic approach to working from home has proved to employees that it is no longer necessary to live where they work. Appealing prices and living conditions of persuasive quality have shown them that Bordeaux benefits from all the assets of a lively, green city, just 2 hours from the capital on the TGV. In the hyper-centre and Le Bouscat, demand is strong and prices are holding steady : apartments range from 6,000 to 8,000 € per sq.m, rising to 10,000 € per sq.m depending on their amenities (elevator, outdoor area...). In the “Golden Triangle”, a beautifully renovated split-level apartment of 200 m2 with a terrace and private lift is currently on offer at 2,300,000 €. For houses near parks or gardens, prices range from 6,000 to 7,500 € per sq.m depending on their condition. The opening of the Barnes agency in Le Bouscat sees the introduction of new digital tools : virtual 3D tours and videoconferences. With property enhancement, a fast response, flexibility and accessibility, real estate transactions have embarked upon a new era.

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