The property market in Biarritz in constant evolution
The domestic market has continued to evolve in recent years and by 2018 a new record has been reached with almost 1 million transactions. Biarritz has not escaped the rule, especially as the region is more attractive than ever.
Every sale starts with a fair estimate of the value of a good. Whether it is a house or an apartment, the profile of the services, the neighborhood, the time and the price you want will be decisive factors in establishing an appropriate selling price. Just like a true knowledge of the local market and its specificities.
As for real estate in Biarritz, prices per m² are increasing and the average sales time is currently between 9 and 12 months.
The evolution of the price of m2 in Biarritz over the last 5 years
The price per m² varies depending on the nature of the property but its location remains the fundamental element, especially as Biarritz attracts many buyers looking for second home and city dwellers wishing to settle on the Basque Coast. The luxury apartments facing the beaches, or near the center have seen their price per square meter soar for 2 years. With an increase of about 15%, the median value of an apartment is estimated at more than € 6,500 per m².
In Biarritz and on the Basque Coast, all types of property combined, the average price per m² for a house is close to € 5,400, with a slight increase confirmed between February 2018 and February 2019.
The dynamic real estate market and low rates are contributing to a general price increase. In Biarritz and in the cities of the coast, prices have risen by 9%.
Biarritz, seaside resort of choice for a rental investment
The geographical situation of Biarritz, its natural settings and its prestigious heritage make it a resort or residence very popular, less than 200 km from Bordeaux. It has the charm of the cities on a human scale where the villas with sea view compete with the typical family houses near the historic center. The beaches, the biarrot sweetness and liveliness of the city, especially during the summer, are attracting growing interest.
If 40% of the properties are second homes, Biarritz offers few vacant homes. A situation that increases the profitability of a possible rental investment.
Naturally, the apartments and houses close to the center (Place Clemenceau, Les Halles district) are easily rented, as are the properties located near the Côte des Basques or the Miramar beach.
If the Beau Rivage coastline attracts by its calm, others like Saint Charles, very "alive", are full of flats, pretty houses and trade of proximity.
The real estate offer is finally extended to Biarritz, small apartment whose price per sqm is trading at more than 6,000 € to exceptional homes overlooking the coast.
Note that the Besson law offers in 2019 some new features to promote rental investment in new or old, including tax deductions in the long term.
In a changing real estate context, the expertise of the Barnes Biarritz agency is an ally of weight in estimating your property and looking for a quality house or apartment. Connoisseurs of the city and the Basque Coast, they bring you advice and personalized support throughout the sales process or acquisition.