On-going buoyancy for Aix

Radia Amar - 26 April 2019

Always seen as a privileged, sunny address, both peaceful and lively, historic yet avant-garde, the city of Cézanne offers quality living conditions that come at a high price.

Launched in 2009, LC Gestion handles sales, rentals, administration and property management. The agency covers an area within a 15-km radius around Aix-en-Provence, with particular expertise in the northern part of town and the Puyricard area. From a portfolio of quality properties at the top end of the market, 95 % of the transactions it orchestrates involve year-round homes. “Puyricard is a privileged, strategic address, ideally situated between town and country, at the edge of Aix’s green area,” explains agency manager Ivan Cano. “We are seeing steady demand, especially for houses, of all kinds, from 3-bedroomed homes of 90 m2 priced around 400,000 € to large properties worth over 1.5 million euros. Villas of 120/130 m2, within walking distance of the village, priced from 500,000 to 700,000 €, are however the main target of many active families drawn by the peaceful, reassuring lifestyle offered by Puyricard. They are unfortunately confronted by limited offerings, putting pressure on prices which remain high, and are accepted without any bargaining if they come with a complete array of assets.” A few new developments have recently extended Puyricard’s stock of quality accommodation. Pegged from 5,000 to 7,000 € per sq.m, these apartments - a good many of which are entrusted to LC Gestion - attract investors, single and/or first-time buyers, and retirees who have sold their houses, preferring to live in an apartment while remaining in Puyricard.

These market dynamics are felt in all the highly-prized neighbourhoods of Aix-en-Provence and its surrounding area. “Our activity is becoming intrinsically linked to that of the market in Paris,” says Valentin Huc-Debat of the Agence d’Aix-en-Provence, ideally located on Cours Mirabeau. “We see rising prices for the finest properties in the town centre, and steadiness in the upper price bracket in general. High-quality properties now find takers very quickly, and almost 30 % of the sales we handle require no advertising.” In this clientele benefiting from comfortable budgets, returning French ex-pats maintain a high profile. “Aix is a middle-class town, lively and benefiting from easy access. Transformation of the ISF (wealth tax) into IFI (tax on real estate), and the introduction of the Flat Tax have boosted the high end of the market. More and more investors see real estate as a safe haven for their family wealth.” As an example of this type of property, Valentin Huc-Debat describes a house of 230 m2 recently built in the spirit of old residences, set around a large courtyard with a fountain. Located in Celony, 5 km north of the centre of Aix, in a wooded park of about 2.5 acres with a pool and several annexes, this property is on offer at 1,615,000 €.