Cap Ferret : exclusive and expensive

Radia Amar - 05 July 2022

Cap Ferret’s property market is now seeing more moderate growth than just after the pandemic, though offerings remain rare in this highly-prized oceanside address.

Marina Tonneau is the founding President of the Coldwell Banker Immoba Realty agency on Cap Ferret. “After completing more than six sales of 3 million euros or more this year, we are one of the leaders on the area’s prestige market. We consider a property to qualify as “prestige” when it is worth over 1 million euros.” The majority of the agency’s clients are from Bordeaux or Paris, or international.

Due to the rarity of availabilities and the high number of potential buyers - despite high prices -, the prestige property market on Cap Ferret is particularly stretched. “In fact, a property which comes up sale usually finds a taker in less than a week,” says Marina Tonneau. In this sector, all kinds of homes are in demand, though the core of the market is embodied by family villas with 4 to 5 bedrooms, benefitting from an outdoor area, and within a bike ride or walking distance to the beach and town centre.

“Comprised of senior executives, company directors and celebrities, our clients have average budges ranging from 2.5 to 3 million euros. Over the past five years, however, prices have soared by 65 %. In the centre of Cap Ferret (post code 33970), they are now stabilizing at around 20,000 € per sq. metre, though some rises can still be seen. The neighbourhood of Le Mimbeau, the village of Le Canon and La Pointe aux Chevaux are the most sought-after locations. Then, as new properties are rare, renovated homes appeal to buyers who do not wish to take on any work and are prepared to pay the price for this advantage.”

Active in almost 60 destinations worldwide, Barnes International lays claim to 115 offices, over 40,000 properties for sale, 1,100 employees and 150,000 buyers. Team Manager in the Bassin d’Arcachon agency, Jean Anselyn explains that on Cap Ferret, the most highly-prized properties are residences corresponding to vernacular “Ferretcapienne” architecture – houses built of wood, in Bartherotte style.

“These holiday homes are capable of being used as semi-main residences. Our clientele is mostly comprised of company directors, senior executives, founders of start-ups, and self-employed professionals. On our market, the pandemic has led to a rise of almost 40 % in prices. Given rare availabilities, we anticipate that prices will continue to rise mid-term, by about 5 to 8 %. Due to capillarity, the southern part of the Bassin may well follow this trend. Currently, in real terms, houses can undergo negotiation from 2 million euros on Cap Ferret, ie. from 11,000 to 15,000 € per sq.m. For outstanding villas on the front row or offering lovely views, prices range from 30,000 to 50,000 € per sq.m. The most highly-prized locations are the centre of Cap Ferret, for its proximity to local shops, the protected zone of about 108 acres and, more generally, all properties close to the sea. To meet demand from our clients and offer them all-round service, we are henceforth placing our expertise for seasonal rentals at their disposal, within the entire area that we cover, that’s to say both the southern and northern parts of the Bassin d’Arcachon.”