The Luberon, a market enjoying a strong recovery

Straddling two “départements”, this mountainous region with three main peaks stretches from the Alpes-de-Haute-Provence to the plain of the Vaucluse. Within the Regional Nature Park created in 1977, lavender fields, limestone hills, green forests and ochre cliffs succeed each other, offering an idyllic holiday setting as highly-prized as the Alpilles.

Dotted with generous valleys, the Luberon’s rugged landscape gives pride of place to houses built of drystone, authentic “perched” villages and hiking paths. The Regional Nature Park is composed of 77 communes within a total surface area of 456,950 acres hosting 170,000 people. In 1997, UNESCO included the region in the worldwide network of biosphere reserves. Seven years later, it joined the group of European Geoparks. In Roussillon, ochre is still extracted from the earth, which gives body to AOC Côtes du Luberon wines. Apt provides milling wheat, while aromatic herbs, stone and wood are also widely exploited. In this land of stone huts called “bories”, the tourist industry focuses on the countryside, relaxation, history or culture. The Luberon in fact proposes a good agenda of music festivals and art exhibitions.

“In 2009 and 2010, visits were fewer and potential buyers more hesitant, despite a level of activity that nevertheless remained satisfactory,” says Lies van Hove of Immo Goult, who speaks four different languages. Currently, the market is doing well and demand is varied. Some clients, with budgets of up to 450,000 €, are looking for village houses in typical addresses, preferably lively all year round, such as Goult, Saint-Saturnin-les-Apt, Cabrière-d’Avignon, Ménerbes or Roussillon. They hope to obtain living space of 80-120 m2, opening out to a terrace. Larger surface areas, also in built-up areas, benefitting from a garden and pool, can reach 1 million euros. Fans of villas with 3/4 bedrooms in grounds of at least 1,500 m2 pay from 450,000 to 800,000 € depending on amenities. Finally, the famous “mas” of charm, with living space of 200-250 m2 in a beautiful setting, ranges from 800,000 to 1.5 million euros, exceptions apart, depending on its condition. Belgian, Swiss and Parisian buyers are very present, while the British and Americans seem to be staging a comeback. Whenever they set foot in the agencies, their hearts are firmly set on the Luberon. They are fond of the regional park and the area’s convenient location, 10 minutes from the motorway, 30 minutes from Avignon’s TGV railway station and one hour from the Marignane airport.

Marie-Madeleine Nelson of the agency Un Mas en Provence is based at the heart of the “Golden Triangle”, at the crossroads between the Luberon, Alpilles and Pays des Sorgues. Probably because of her origins, her clients come from England, Scotland, Ireland or South Africa. Most of them can afford to invest 700,000 to 1.2 million euros, and are in search of a comfortable, perfectly finished home. She has also noticed a resurgence of buyers willing to pay over 3 million euros for a restored “bastide” with 5/6 suites plus a guest cottage and guardians' accommodation in grounds of at least 12.5 acres in the Golden Triangle. Characterized by a total absence of noise and eyesores, this area is full of secret paradises. The choice of the precise address is then a matter of taste and sometimes reputation. Well-oriented and “mineral” in character, Gordes is very popular among Parisians. British clients prefer the cooler and more luxuriant settings offered by Oppède, Ménerbes and Bonnieux. Year-round residents opt for Roussillon, Goult or Cabrière. Since October 2010, activity has been intense despite the traditional “quiet season”. Sellers who had withdrawn desirable properties from agencies’ files are now helping to build up the stocks. Once they sell their desirable residences, they often purchase a main or holiday home requiring less maintenance. Meanwhile, seasonal rentals serve as a stepping stone prior to acquisition. The quality of the Luberon’s facilities and leisure amenities, its array of restaurants, stores and service-suppliers catering for homes and gardens is constantly being improved, drawing the property market increasingly higher.

“The crisis has come and gone, and property in the Luberon has retained its value,” asserts Belgian estate-agent Bart Hoorens of Les Douze Oliviers, with 16 years of experience in the region. “An observation which reassures investors, convinced they are acquiring a sound long-term asset.” Ranked among the loveliest in France, the villages in the area between Coustellet and Apt, home to the Golden Triangle, have many devoted fans, while those more off the beaten path such as Saignon, Villars, Saint-Martin-de Castillon and Saint-Saturnin are attracting growing interest. Half the buyers are from the region between Lyon and Paris, the other half from northern Europe, with Belgians topping the list. In addition to the “Provence” label, they love the unspoilt countryside and the relaxed life-style. Originally holiday homes, sometimes with a rental activity in addition to personal use, their acquisitions often become main residences when they retire. Currently ranging from 250,000 to 3.8 million euros, recent sales include a building plot of 7,240 m2 in Oppède, facing the Luberon, at 264,000 €, a 1960’s house of 150 m2 awaiting restoration with a garage of 30 m2 in grounds of 7,600 m2 over towards Menerbes, sold for 418,000 €, and a stone villa of 340 m2 on almost 5 acres of land near Gordes, for 1,140,000 €.