BARNES, with its position of reference on the market of the luxury real estate on the Basque Coast, presents you a quantified assessment of the high-end real estate market, trends and prospects for 2018.
An excellent year 2017 announcing good prospects for 2018
Despite a year of election (generally not conducive to real estate transactions), and tax incentives for real estate purchases, real estate remains the preferred placement of French, whether in primary residence as secondary, even with the refocusing of ISF on real estate with the creation of the IFI (Tax on real estate wealth). Barnes Côte Basque took advantage of this momentum to open a second branch in Saint-Jean-de-Luz (opposite Les Halles, at 23 Bd. Victor Hugo), thus increasing sales by over 50 ME properties sold in 2017.
This sharp recovery of sales observed on the Basque Coast concerns the "premium" market (> 800,000 €) just as the "general" market, which underlines the, represents approximately 96% of transactions.
This general trend is confirmed on the Basque Coast, which has had a good alignment of planets since 2014:
Positive demographic pressure
A quality of life recognized and envied
prices still attractive, although slightly up (3 to 8% on average in 2017 depending on the locality, and the neighborhood) for coastal cities, as illustrated by the positive evolution of the number of sales in Biarritz (Source Base Perval, 2017 figures estimated for the first 9 months).
The lights are more than ever green for the real estate market of the Basque Coast:
the economic and political context in France
Economic forecasts in France and Europe
interest rates still very interesting, although slightly upward
a dynamic market, because always tense by the shortage of quality goods
a heritage re-equilibrium expected from the owners with regard to the IFI which should (we hope) allow to better balance the supply and demand with more goods for sale.
In the first half of 2018, the upward trend in real estate is confirmed.