Bordeaux real estate, between growth and attraction

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Updated on 06 October 2020 The real estate market in Gironde and Bordeaux has been doing well in 2019. It is the territorial data concerning the evolution of the real estate market in Girona that make it possible to put this forward, these figures were revealed by the Chamber of Notaries. Whether for new or old real estate, increases continue in the department of New Aquitaine.

A booming Girondin Real Estate Market

This analysis was done through a Perval/well database, as confirmed by Mathieu MASSIE. The girondin market remains on a good pace, where speculation was to say that there would be a drop or the bursting of the girondine bubble, which could be predicted. The data are generally positive and confirm that 2019 was a good year. The evolution of median prices continued its unhindered curve.

Following the february 2020 event of the Chamber of Notaries, the details for 2019 have been revealed. As for the old one, it increased by 5.3%. This represents 3.430 euros/m2 and for houses of 5.2%, sold at 256,500 euros. A smaller increase of 2.7% for the new market, for a median price of 4,100 euros/m2.

But it was the price of building land that stood out with an increase of 18.8%. This is not a surprise in itself in a department that attracts more and more. However, for the latter, this type of product becomes rare and therefore should not experience a decrease. Compared to the Bordeaux Metropolis, it increased by 11.9% to 170,500 euros. More generally, these figures can be found in the municipalities of Bordeaux Métropole, with 13.4% in VIllenave D’Ornon, 11.2% in Cenon and 13.4% in Pessac. That’s 2,790 euros per square metre, 2,210/m2 and 3,060 euros per square metre, respectively.

But the interest of the Bordeaux Metropolis does not stop at this market and also reaches the market of old houses.

Bordeaux, the heart of real estate developments

Even if the old one, Belle sleeping, did not arouse the interest of the French, it can be confirmed that it does not affect the real estate market and that interest is present. The median price of old apartments, which is perhaps one of the greatest charms of the city, is now 4,280 euros/m2, which represents an increase of 1.4%.

But even if the old apartments are part of the Bordeaux charm, it is the old houses that have experienced significant growth, first of all the median price is 472,100 euros, an increase of 7.3%, which is a very strong increase. A strong increase also present in new apartments, with a nearly similar percentage of 7% and rising to 4,510 euros/m2

As for the old houses on Bordeaux, they have become a prime target for many, the interest being to keep them for a few years, renovate them and resell them at a price that allows them to make a profit.

French executives in search of Bordeaux balance

As for all the buyers, in the department 80% of the buyers are from Gironde. It is not surprising that Bordeaux is the one that stands out in this sector, with a large part of the new buyers in France which is larger but also with a younger average age, the director of Argus Real Estate, Jean-Marie Duffoire, recalls the arrival of a Parisian clientele, among other thanks to the high-speed line, inaugurated in 2017. One example is a two-piece of 41m2 which sold for 260,000 euros or 6,340 euros per square metre.

These french people are 15% not to exceed thirty. They have a lot of dynamic young managers, who have the means to come and settle in the centre of the Bordeaux Metropolis. A dynamism and an interest in Bordeaux that has only grown over the years. The good living in Bordeaux becomes almost a model in France and attracts. There are many executives looking for a healthy balance and wishing to move away from the greyness of Paris.

A green Bordeaux ecosystem

But why is Bordeaux attracting? First of all an update on the culture of Bordeaux. In 2019, Bordeaux was in 5th position in terms of cultural, environmental and leisure attractiveness. A lot of projects have sought to come into being in Bordeaux with a cultural reach. The Natural History Museum at the Public Garden or the Caudéran Library are good examples. You also have the historic Big Bell of the Victor-Hugo course but also the very recognizable water mirror. A cultural interest, a good life that for sure will seduce the greatest number. The aim is to bring a calm, in a professional daily sometimes burdensome for many.

According to CadreEmploi, in 2020, Bordeaux is the best rated city to allow executives to flourish. Companies make no mistake and players like Betclic, Ubisoft and ManoMano support this neweconomy. It is a renewal for the city, which is seeing its economic and entrepreneurial environment grow. We can mention French Tech Bordeaux , or Bordeaux start-ups like Sunna Design, We prod local or Motion Twin.

Even schools are following suit, with the inauguration of the tenth Microsoft school at the end of 2019 in Bègles. Strong players and an entrepreneurial craze that will continue to make people happy around them. The real estate market like many lights in Bordeaux is green. Growth is expected to continue over the years, or stabilize, already reaching peak populations in the Metropolis. But that could also give interest to the municipalities of Girona.

Bordeaux real estate in tad teeth for 2020

The Bordeaux real estate market has seen a large increase that seemed uncontrollable over the years however this year prices seem to be stabilizing. This is how we see an unprecedented decline for the city at the centre of all the lusts. Even if a slight increase of 0.3% was noticed at the beginning of the year we are far from the figures of previous years. (4) The city of Bordeaux nevertheless remains the two most expensive city in France after the capital. According to Logic Immo, market prices should not be expected to fall. They should continue to evolve slightly upwards as many future buyers still want to settle in the city. With the support of new real estate complexes the market should be able to land smoothly.

Hugo RENIER – BORDEAUX Business

Source:

(1) Gironde Chamber of Notaries

(2) BORDEAUX Business

(3) Capital

(4) Bordeaux: price drop or rise in 2020? Blog Logic Immo

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