The thermal spa of Dax
By Laetitia Rossi - 17 January 2013
Renowned in the Age of Antiquity for the quality of its hot springs, Dax now benefits from two motorways and a TGV station placing it 4 hrs15 minutes from Paris. It is the most densely populated area in the “département”, with 21,700 residents. A trip to the heart of Les Landes...
An essential address on France’s list of thermal spas, Dax specializes in rheumatology, phlebology and, more recently, fibromyalgia. Each year, its 15 establishments welcome 52,000 people taking cures. To endow these activities with complementary amenities, the municipality has added Nature and Health Circuits. The main roads in Dax recall its rich past. Still partly visible, the ramparts built in the 4th century staked out a protected perimeter, just like the cathedral built in the 12th century and the hot-water fountain, acclaimed since the Age of Antiquity. The theatre of the Atrium and the Hôtel Splendid are examples of the Art Deco style. And mention should be made of the arenas, inaugurated in 1913. Two motorways, the A63 and A64, bring visitors to Dax, about 30 kilometres from the Atlantic beaches and 45 km from Bayonne. The “Cœur de Ville” project is the guideline for the town’s priorities and the ground is already being prepared : examples include the “Avenue Saint-Vincent-de-Paul, Habitat Jeune residence, pedestrianization of markets, family parks, restoration of the ramparts and rehabilitation of the stairway”. The economic hub of Les Landes is home to 1,300 companies and 600 shops.
Fatima Bats of Alis Immobilier mentions a slight decline in the number of sales, relative stability in terms of prices, but a change in buyers’ behaviour. Starting with investors, now obliged to negotiate the transferral from the Scellier to the Duflot schemes, and first-time buyers, less numerous since the disappearance of the zero-interest mortgage. Out of every ten sales, five concern year-round homes, three cure-related rental investments (on a seasonal basis), and two classic rental investments. After a few stays in hotel accommodation, people taking cures often decide to acquire small apartments of 20 to 30 m2, priced around 60,000 €. If one bases the calculation on 550-650 € for three weeks and ten rentals per year, the yield can attain 9-10 % versus a maximum return of 7 % obtained per annum in the case of long-term occupancy. In theory, local buyers target 2-bedroom apartments in the centre, priced from 160,000 to 190,000 € depending on the neighbourhood and the residence’s quality. 3-bedroom apartments come up against competition from houses, which range from 160,000 € for a standard terraced house to 350,000 €, corresponding to a very pleasant contemporary house of 160 m2 all on one floor, with a garden of 600 m2 and a pool. The average transaction is around 200,000-250,000 €, with demand becoming negligible beyond 300,000 €. Generally speaking, buyers are taking longer to make up their minds.
Based in Hossegor, 30 minutes from Dax, Jérôme Lassabe of the Agence des Golfs is particularly active on the coast. “It’s not rare that residents of Dax acquire a pied-à-terre near the ocean as a back-up to their main residence : they spend their weekends and holidays in a town which is increasingly less affected by inconveniences related to seasonal considerations. Their budgets usually range from 150,000 to 200,000 €. One such buyer recently paid 145,000 € for a 1-bedroom apartment facing the sea.” More rarely, some owners sell their homes in Dax to live on the coast, where accommodation is at least 20 % more expensive. Finally, a few holiday home owners are willing to consider properties further inland, a 10-15 minute drive at most. Too far away, Dax cannot, therefore, be regarded as a fall-back market.