Bordeaux : restriking a balance

With an average decline of 10 % in its prices, Bordeaux’s property market is in a transition period following years of euphoria. The market should gradually attain a certain balance by the end of the year.

An estate agency combining competence, fast responses and conviviality, La Bordelaise de l’Immobilier was created in 2010, revealing its office window close to the Golden Triangle. Handling all kinds of properties in the centre of Bordeaux, Saint-Seurin, Les Chartrons, Ornano, the Fondaudège neighbourhood…, and their surrounding areas, the agency’s energetic team accompanied the

evolution of Bordeaux’s property market in the flourishing years when the city was treated to its metamorphosis.

“At the initiative of Mayor Alain Juppé, the capital of the Gironde won extraordinary appeal. This Sleeping Beauty was transformed into a go-ahead city in every respect, and the opening of the LGV train line placing it only 2 hours from Paris had an unprecedented effect on its property market. Prices continued to soar, with demand far outstripping supply,” explains Pascal Boulonne, the agency’s spirited co-manager.

Then, since the Covid crisis, the dynamics of the market began to change with the “Climate and Resilience” law having an impact on many old properties, the war in Ukraine triggering higher prices for materials, the rise in energy prices, that of bank loans, and today, political instability all over France. “Buyers have now lost up to 30 % of their borrowing capacity!” says Pascal Boulonne. The early stages of a rebalancing act seem to be visible for the end of 2024. There are more and more offerings, and demand, while in decline, still shows quality.

“Clients now enjoy the luxury of having a wide choice. They no longer hesitate before multiplying their visits, comparing, making offers lower than those posted ...” Faced by this turnaround in the situation, Pascal Boulonne maintains his efforts in communication, striving to explain price adjustments that really must be made by his sellers.

“Today, the time it takes to sell is getting longer and it is vital to post a coherent price right from the start. After years in which Bordeaux experienced a property boom, the market is gradally becoming more balanced and reinstating reason in all its segments, even the prestige sector. People who are currently not in any urgency to buy or sell have put their plans on pause... We are confident for the coming years as Bordeaux is a sound value, backed by a property market of very high quality, from studios to private mansions, lovely family homes, and high-spec apartments,” concludes our estate agent, who offers many services and advice of quality to assist his clients and keep them loyal during these transition periods.