The Brits are coming back to Bordeaux Real Estate!
The Bordeaux real estate market behaves just like any other, moving in cycles being driven by demand from buyers and available supply from property inventory. In a market like London or New York the inventory is vast and the influences that effect the price of real estate are hard to pin down to any one thing – it is often a result of the general health of the national or international economy.
The Bordeaux country house market can however be linked to some important markers that often have disproportionate influence on certain periods of its cycle. One of these is the effect of the exchange rates especially Sterling but also the US Dollar as they relate to the Euro. The British Pound is now ( at the time of writing) at 1.38 against the euro up from around 1.18 in 2014 and that is an increase of x 17 % making Bordeaux real estate financially very attractive again.
An 800,000 Euro property today would be approximately £ 578,000 pounds. In the spring of 2014 this same property would have cost £ 664,000. A difference of £86,000.
2013 and 2014 were perhaps the worst real estate markets we have seen for many years for Bordeaux real estate and in particular country homes. At the beginning of 2015 we started to see more and more activity and enquiry and so it was not particularly difficult to forecast that by the fourth quarter of 2015 demand would start catching up with supply. French buyers have remained quite quiet but it is countries directly affected by Sterling and the US Dollar that have led the charge back into the Bordeaux real estate market.
Buyers that we at Maxwell-Baynes speak to have often considered Bordeaux real estate for months or even years as they dream of buying into a wonderful lifestyle in a good climate with food and wine to match. The Bordeaux region offers this enviable combination and with many direct flights to UK airports it is quicker to get to than Devon!
Buyers today for Bordeaux real estate are well informed and in most cases are purchasing for a second home investment probably with 10 years ownership in mind. They are busy professionals and are not looking for more responsibilities nor are they particularly interested in a significant renovation project. But to find the perfect country home is not always that easy, firstly they don’t come on the market that often and secondly when they do they are the first to sell.
So what is the archetype today – the property that represents what most buyers are looking for? Buyers for the country house market are targeting something that is in the €700,000 to €900,000, move-in-ready, within 60 minutes of either Bergerac or Bordeaux airports and without too much land to maintain. As always pictures are better than a 1000 words (especially if they are my words!) and so to look at what we would consider the perfect Bordeaux region property for sale in the current market then take a look at the amazing drone video below.
This property has it all with an outstanding restoration of this spacious property, very well located near a market town. It provides an ideal family home with excellent internet connection enabling working from home, with plenty of space for all sorts of hobbies and entertaining. The property has a large swimming pool with terraces around and a covered pergola to get out of the mid-day heat. The garden is low maintenance and mainly laid to lawn, and is completely fenced in for those with dogs. The garden backs onto the neighbor’s fruit orchard, and there are delightful neighbors – a French artist and sculptor on one side and further away on the other side the local farmer.
With stunning views to the lovely “bastide” town and just a short drive to enjoy a coffee on the square as the shoppers in the market buy the fresh local produce. Plenty of excellent local restaurants too!
Our job at Maxwell-Baynes – as Bordeaux real estate agents – is to reach out to those that may have an interest in the lifestyle that living in Bordeaux brings. We have plenty of blog articles enthusing over the Bordeaux area and all its many lifestyle qualities. But today, we have another message; there has never been a better time to purchase luxury Bordeaux real estate.