Bordeaux, a turnaround

Radia Amar - 21 February 2024

Thanks to a slight decline in prices, buyers are showing renewed interest in small surface areas.

A consultant in the J’habite en Ville Khepri agency, Emmanuel Coustaud confirms a turnaround in the market in the urban area of Bordeaux.

“Based for 20 years in the hyper-centre, our agency focuses on sales, trusteeship, property management and rentals, within a perimeter centered around Bordeaux stretching as far as the Bassin d’Arcachon. Due to the rise in mortgage rates and tougher conditions for obtaining financing, we have seen a reversal in the market since September 2023 : offerings are now faced by limited demand. That being the case, since the month of January 2024, stabilization - even a slight decline - in interest rates has sparked renewed interest among buyers.”

Within the perimeter covered by the J’habite en Ville Khepri agency, Emmanuel Coustaud explains that demand mainly concerns year-round homes and long-term investments.

“To acquire a year-round home in our area, budgets mainly range from 250,000 to 1.3 million euros, while investors focus on small surface areas, priced up to 300,000 euros. In the current context, we are seeing a rebalancing of the market, most often embodied by slight declines in prices. A property formerly proposed at 300,000 € is thus now offered at around 280,000 €. Elsewhere, despite the slowdown in the market for sales, we are not witnessing any shift to the rental market, as first-time buyers are rare within the area we cover, as rare as properties for rent. Finally, the most sought-after locations are still those of Pey Berland, Saint-Pierre, Saint-Paul and Gambetta.”