Luxury real estate: "In two years, prices have exploded in the Arcachon Basin"

Luxury real estate: “In two years, prices have exploded in the Arcachon Basin”

An international luxury real estate group, Barnes is present in more than 60 exceptional destinations, from major international cities such as Paris, New York, London, Madrid and others, to the most beautiful resorts such as Saint Barth, Saint Tropez, Courchevel… We asked its president, Thibault de Saint Vincent and the director of the four agencies In the Arcachon Basin, Jean Anselyn, assessing the post-Covid years in the rising real estate market. The main lesson? Dressed like magic!

L’Express: What are the five most popular places in France for the wealthy?

In order of preference: Saint-Jean-Cap-Ferrat, Saint-Tropez / Cannes, Courchevel / Megève, Cap Ferret / Pyla and Biarritz / Saint-Jean-de-Luz.

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What is the average price of luxury real estate in these places?

For all villas with a beautiful sea view, their prices range from 20,000 to 40,000 euros / m2, depending on the condition of the property and the size of the land. For all chalets at the foot of the slopes, from 20,000 to 50,000 euros / m2, depending on the quality of services. These are averages, it could be much higher. We got up to €60,000/m² in Saint-Jean-Cap-Ferrat, up to €50,000/m² in Saint-Tropez / Cannes or Courchevel / Megève or even in Cap Ferret, and up to €35,000 / square meters in Biarritz / Saint-Jean-de-Luz.

Prices everywhere have risen sharply over the past two years, by 15% to 30% on average depending on the destination and on the Cote d’Azur, for exceptional properties, they can escape all logic. However, the largest increase in two years is attributed to the Arcachon Basin, with an increase of nearly 40% in prices in Cap Ferret and Pyla. It’s the effect of the TGV – you can get to the trough in two hours and 45 years – along with the effect of Covid. With the health crisis, most of the second homes, for French buyers, have already been converted into semi-masters.

On the Atlantic coast, has Cap Ferret overtaken Biarritz?

Yes, it is fairly recent. 80% of buyers find their happiness between 1.5 and 3 million euros, but 15% of them are between 3 and 15 million euros. Prices are very different between the North and South Basin. It is Cap Ferret, a fairly wild strip of land, that is the most popular: prices there are on average 30% higher than what is practiced elsewhere. An exceptional villa with a view is sold there from 30,000 to 50,000 euros / m2, while in Pella it is more than 20,000 euros / m2 and in Arcachon for 15,000 to 17,000 euros / m2, for villas on the front line, at the water’s edge.

The effect of rarity comes into full effect. For example, there is no market bottom in Pella, where there are sixty houses on the first line and three on the second line. There will be no more, as 4,000 hectares of non-buildable forest are blocked behind us. The same for the cap ferrite sector of the land. And unlike the Cote d’Azur, there are no remote areas in the Arcachon basin. We currently have two great properties for sale for €20 million in Ferret and Pyla. These are prices that did not exist before the health crisis.

What about Brittany?

We are opening an agency very soon in Saint-Briac, near Saint-Malo. With global warming, this is our future Cote d’Azur!

Aside from the usual spots, what are the ones that are gaining momentum?

Birch garden, which was discovered in the 1980s, is very popular in cities like Mortani. Real estate from 1 to 5 hectares of commercial land for 50,000 to 2 million euros, depending on the area, charm, condition of the building and the size of the park. This is a historic district located less than an hour and a half from Paris, which has regained a certain appeal after the health crisis. Cologne is more than ever the preferred area for wealthy families, especially fishermen. There are high-quality properties from 1 million to 10 million euros for the most beautiful fishing properties – the price per square meter varies between 1500 and 4000 euros depending on the country. Forests are negotiated around 10,000 to 12,000 euros per hectare. Ponds are highly sought after and the price per hectare reaches 20,000 euros. Barnes has made more than 25 sales in Cologne over the past two years, primarily to clients from Paris.

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Camargue, for its part, is attracting more and more young entrepreneurs. We recently sold a 280 hectare property for €3.2 million to a business manager who will create an eco-lodge concept around nature. Ecotourism is booming, it interests more than 30% of our buyers. They combine pleasure possessions, agriculture (rice, islands, herds of cattle, etc.) and/or hotels.


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