Unearthing affordable properties in the Luberon
Yann Cohignac - 17 November 2015
A tourist destination offering both character and prestige, the Luberon posts high prices for real estate. There is also, however, a limited offering of relatively affordable homes. At what prices ? For what kind of property? And in which areas ?
An undulating part of Provence home to picturesque villages clinging to rocky spurs, the Luberon is internationally known and appreciated for its charm and authenticity. Well beyond the famous “Golden Triangle” (formed by Gordes, Ménerbes and Bonnieux), its property market offering a remarkable architectural heritage in a particularly appealing environment thus addresses a well-heeled clientele. It is, however, also possible to find interesting properties likely to suit more modest budgets.
“They consist of small houses of 70-90 m2 with more or less generous gardens, or apartments with terraces, priced from 150,000 to 250,000 €. And they usually require some freshening up,” say Aïchouche Sarri and Mireille Trousse, negotiators and associated manageresses of Cheval Blanc Immobilier, an agency set up in 2001 proposing sales and rentals in Cheval-Blanc and within a radius of 15 km (Robion, Les Taillades, Cavaillon, Mérindol, Maubec). “We recently handled the sale of a villa of 80 m2 in Cheval-Blanc, for example, in need of a revamp, with a garden of 1,290 m2, priced at 212,000 €, and another villa of over 90 m2 in Mérindol, also requiring refurbishment, with a garden of 380 m2, priced at 189,000 €.” A third example, again needing some renovation ; a terraced villa in Cheval-Blanc with two bedrooms, a study, and a garden of over 360 m2, currently on offer at 163,000 €. “These opportunities are mainly to be found in UC zones, urban areas though not densely built-up. Popular among first-time buyers and seniors wanting to sort out their estates, move closer to shops and reduce their living space, they are quickly snapped up.”
Backed by their experience in the hotel sector, Sylvie Debord and her husband opened the Patrimoine en Provence agency in 2007, in Cabrières-d’Avignon. They specialized in the sale of properties providing tourist accommodation such as self-catering “gîtes”, B&B guest-houses and small hotels. Covering the Luberon and the countryside around L’Isle-sur-la-Sorgue, their agency now proposes all kinds of properties : “For limited budgets, houses of almost 100 m2 with interior renovation on the cards, gardens and pools - or the possibility of building one -, are available here from about 300,000 €. Relatively rare - that’s to say, comprising 10 to 15 % of our portfolio -, they are found in hamlets around Gordes, Cabrières-d’Avignon, Maubec, Robion or Lagnes”. In a little hamlet near the centre of Gordes, a house with a garden of 500 m2 and a pool recently found a taker for 310,000 €, while a 1980’s villa of 80 m2 in Cabrières-d’Avignon with a garden of 1,000 m2 and a pool sold for 345,000 €. “This brisk and lively market now posts steady prices, like the rest of our transactions. It draws two main types of clients : people from northern France or Europe who want to settle in the sun after selling their homes, and others looking for a small pied-à-terre which they gradually modernize or extend.”
After working for many years as an estate-agent in the Luberon and Le Pays des Sorgues, Brigitte Arié opened the Arié Immobilier agency this year in L’Isle-sur-la-Sorgue, proposing sales of apartments, village houses, “mas”, villas and building land, plus property renovation. “We are seeing high demand here for old properties in need of renovation, priced from 100,000 to 350,000 €. They consist of apartments, village houses, small “mas” or homes built in the ‘seventies. Their buyers, rental investors, or relatively young clients wanting to settle here or looking for a small holiday home at a reasonable price, often carry out refurbishment work themselves.” One rental investor has, for instance, just acquired a garden-level apartment of 75 m2 for 110,000 €. “We also recently sold to first-time buyers a town house of 70 m2 with a garden of 200 m2, priced at 180,000 €, and a house of 130 m2 in 3,000 m2 of grounds, at 360,000 €, this last one to be used as a holiday home.” According to Brigitte Arié, availabilities in this price range are limited. “They can still be found over towards L’Isle-sur-la-Sorgue, especially on the communes of Lagnes, Robion and Maubec.”