The very select “Golden Triangle” in Bordeaux

Bounded by the Cours Georges Clemenceau, the Cours de l’Intendance and the Allées de Tourny, Bordeaux’s Golden Triangle is the smartest neighbourhood in the city. Very airy, with wide streets and lots of trees, it appeals to a wealthy clientele and sometimes presents wide divergences in prices.

Over the past few years, the city of Bordeaux, which offers its residents living conditions of undeniable quality, has met with rising popularity and has benefited from glowing articles in the French and inter­national press. A reputation which has brought it many Parisian investors, but also foreign clients, from Switzerland, the UK, and even the USA. This attractiveness has inevitably had an impact on property prices, especially at the top end of the market, and it seems likely that this trend is set to continue…

The Square & Hashford agency provides assistance for its clients in all aspects of real estate : sales, rentals, rental management, and trustee activities. Catherine Croisel thus has an all-encompassing view of the market in Bordeaux. She sees the Golden Triangle primarily as an investors’ market : “It is highly competitive and very narrow.” Mostly from Paris, the agency’s clients mainly target small surface areas such as 1-bedroom apartments whose prices can prove to be very high, attaining up to 8,000 € per sq.m. “They buy an apartment in order to make a sound investment, as part of their long-term assets,” explains Catherine Croisel. Bordeaux, a prime example of a tourist destination, lends itself well to this type of transaction. In the Golden Triangle, buildings are smart and well-maintained : they consist of chic co-owned properties whose ground floors are often occupied by shops or offices. For Catherine Croisel : “The Golden Triangle is Bordeaux’s showcase neighbourhood, though it is not necessarily the best place to live, as it does suffer from certain nuisances, like all city centres”. Its high prices are often an obstacle for young working people who would like to live here, though they only comprise part of the clientele. Some retirees from Bordeaux also appreciate the neighbourhood, and move here after selling their family home.

Bruno Lafaye, manager of the Lafaye agency, describes a very buoyant market : “With the arrival of the LGV and the bonus of an international airport, many Parisians are moving here. Armed with hefty budgets, they aim to acquire an apartment corresponding to their taste. As price is of secondary importance, they mainly focus their searches on a property’s quality and location”. The Agence Lafaye has in fact decided to propose only prestige properties to its clientele, a positioning which is bearing fruit. It recently handled the sale of a very beautiful apartment of 70 m2 on the Allées de Tourny, enjoying a view of the Grand Théâtre, priced at 7,000 € per sq.m. On a quiet street in the Jardin Public area, it sold another apartment in a Haussmann-style building for 1 million euros. This property of 150 m2 offered refined appointments including oak parquet floors and a marble fireplace. Transactions orchestrated by the Agence Lafaye are thus elitist, and its clientele highly demanding. “Impeccable properties sell very easily : those with defects, such as a room overlooking a gloomy courtyard, find takers less rapidly and are subject to negotiation to reflect their real worth.” As for private mansions, they are of interest to families who, with budgets ranging from 1.5 to 2 million euros, can expect to obtain living space of about 300 m2 with a garden, and benefit from appreciable closeness to shops, schools and public transport.

Aymeric Sabatié-Garat, associate director of the Barnes Bordeaux agency, puts forward the same arguments : “The Golden Triangle is still, and will continue to be, the most sought-after neighbourhood in Bordeaux. What do clients like about it ? Its super-central location, its prestigious boutiques, its restaurants, the auditorium, the Grand Théâtre, good transport services…”. Of all the city’s neighburhoods, it is the one that has seen the highest rise in prices : + 22 % in just two years. “Demand still largely outstrips supply,” confirms our expert. “We currently have 150 active requests for this neighbourhood alone, and only six apartments up for sale.” Among the most highly-prized properties, one finds renovated apartments with lifts and terraces. They usually fetch 8,000 to 10,000 € per sq.m. Even so, as explained by Aymeric Sabatié-Garat : “Not everything sells regardless of the price. For example, apartments on upper floors without a lift and those in need of renovation do not exceed 5,500 € per sq.m”. Bordeaux’s Golden Triangle is clearly a sound investment for the years to come. With the most highly-prized apartments becoming rare, prices will undoubtedly continue to rise beyond 10,000 € per sq.m.

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