The Gulf of Morbihan, an inland sea with islands

Its Breton name “Mor bihan” means a small sea. And as a sea, it certainly appeals to fans of sailing. Back on land, it is much appreciated for its walking and hiking possibilities along the coastal paths.

It is also renowned for its scenery, sometimes quite spectacular and ever-changing due to the tide and variations in weather conditions. 21 kilometres long and 5 kilometres wide, the Gulf of Morbihan covers an area of about 100 km2. This little inland sea, closed by the Rhuys peninsula, boasts no less than 300 islands, of which only about 30 are inhabited, including the Île aux Moines and Île d’Arz. The first, of some 765 acres with 542 residents, is a commune in itself. It has some very desirable properties and cultivates discretion. The estate agency on the island handles the vast majority of the sales and will only say that a few personalities from the worlds of business and showbiz own homes here, enjoying total peace and quiet far from the crowds and paparazzi. With fewer visitors and residents, the Île d’Arz is home to 252 people. A house of 200 m2 costs approx. 500,000 € and this address can also be counted on to guarantee tranquillity.

Founded in 56 B.C. by the Romans, Vannes has retained a crown of ramparts from this very distant era. It is looked upon as the cornerstone of Le Morbihan. A town of art and history, it can indeed be proud of its cathedral, Musée de la Cohue and its ancient wash-houses. Visitors admire its narrow old streets but also the Aquarium Océanique et Tropical (with sharks, coral etc.) recalling its maritime vocation. For Vannes enjoys an enviable privilege, that of having a sailing harbour at the very heart of town. Fully refurbished, it now offers locals and visitors a very pleasant esplanade and the possibility of parking their cars in its underground car-park. Vannes also hosts the Centre Hospitalier Bretagne Atlantique, the 3rd regiment of infantry and the Université de Bretagne Sud, all giving it a strong anchorage in the present. Those who decide to live in its historic centre abandon all hope of a garden, terrace or garage. As in all old towns, its charm derives from other factors ; the authenticity of old stone, being close to shops and enjoying a real village life. Here, a terraced house of 250 m2 on two or three floors will cost 600,000 € if it has been fully restored. Couples with children and good income appreciate the presence of schools and being able to do everything on foot. A few well-off buyers acquire two apartments with an inner courtyard that they join together to obtain a townhouse with a garden. Recently, one fan of the historic centre paid 630,000 € to achieve his dream on the ramparts of Vannes. On the right side of the harbour, the Rue des Notaires with its superb 19th-century houses offers a contrast with a luxury residence undergoing construction on the site of the former bishopric of the Petites Sœurs des Pauvres ; apartments

here are pegged at 6,000 €/m2.

On the left bank, the price of new apartments ranges from 4,000 to 4,200 €/m2. One example of 200 m2 with a roof garden recently sold for 620,000 €. Prices which only senior executives and self-employed professionals can afford. They are also drawn by the very lovely properties in Vannes-Conleau, where one talks in terms of millions of euros. A house of 350 m2 in 6,000 m2 of grounds with a pool and unimpeded sea view costs 3 million euros. “30 % of our clients are from Paris,” notes Jean-Louis Fiorini of Laforêt. “Their budgets are higher than those of local buyers and when they have sold their homes in the capital, they can acquire a beautiful house in Vannes and also invest in an apartment which they then rent out to supplement their pensions.” Arradon - birthplace of seafarer Riguidel - is very highly sought-after… under strictly anonymous conditions. The most modest “pavillon” sells for 500,000 € while a beautiful manor with about 2.5 acres of land and a view of the golf-course can attain 12 or 13 million euros. However, while the address is indeed prestigious, there is no ostentatious show of wealth. So does the Gulf of Morbihan only welcome the rich ? No, of course not. “The social mix in Vannes is a challenge that has worked successfully. Young people and senior citizens rub shoulders in all harmony and no-one here talks about under-privileged neighbourhoods,” says Françoise Moulin of AIM. First-time buyers, whose budget is around 150,000 € on average, can opt for 1970’s residences, which have been well maintained and propose 2-bedroom apartments of 70 m2 for 160,000 €, in the neighbourhood of La Garenne for example, or move out of Vannes to live in Ploeren, Saint-Avé or Plescop, small communes with 8,000 to 10,000 inhabitants, undergoing real development.

“The core of the market, that’s to say 1- and 2-bedroom homes for average families, is currently at a standstill,” says Antoine Bonnet of Antoine Bonnet Immobilier. “Demand is there, but the crisis and hesitancy on the part of banks, and especially their demands in terms of down payments, prevent young buyers and those with modest budgets from becoming home-owners.” On the rental market, supply outstrips demand. The plethora of availabilities is a direct result of the Scellier scheme, now rescinded ; rental prices have naturally dropped, so that at the heart of Vannes, a 1-bedroom apartment can be leased for 450 €/month, a 2- or 3-bedroom apartment for 650 €/month. Potential tenants have a good choice and refuse to accept rents they consider too high. The overall slowdown observed at the beginning of this year, which can be attributed to the current economic situation, the presidential and legislative elections, and strict conditions imposed by the banks, does not prevent estate-agents from remaining optimistic. The Gulf of Morbihan in general, and Vannes in particular, exercise genuine appeal ; the local economy simply needs to get back on a more solid footing.

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