Côte basque : On a rebound

The Basque property market has not said its last word. At the helm of the Barnes agencies in Biarritz, St-Jean-de-Luz and Hossegor, Philippe Thomine-Desmazures reports surprising liveliness with a surge in sellers’ mandates and buyers who are more determined than ever…

Within a global economic context which is still very fragile, La Côte Basque is as appealing as ever with its high-end properties visibly unscathed. “The figures speak for themselves,” says Philippe Thomine-Desmazures. “In January 2022, we only had 65 mandates. Two years later, we had acquired 200, and today, we have close on 300. Which translates into spectacular growth ! This is the paradox : while buyers are slightly fewer in number than at the peak of the Covid crisis, they are now showing themselves to be much more responsive. Before the pandemic, we received about 350 new enquiries each quarter. During the crisis, that number rose to 500. It is now fluctuating at around 400. Though current client profiles - often entrepreneurs or senior executives - decide very fast. The result is 30% more sales over the year.”

Afer a 10-year career in consultancy and marketing, Philippe Thomine-Desmazures moved to south-western France in 2010 to found Barnes Biarritz. Other agencies then followed in St-Jean-de-Luz (2017), Hossegor (2018) then San Sebastian (2022). Barnes Biarritz, 2 place Bellevue, 64200 Biarritz (05 59 51 00 00). www.barnes-cotebasque.com

At the very heart of Biarritz, on an upper floor in a very fine old freestone building with lift, this outstanding 2-bedroom apartment of 149 m2 enjoys magnificent panoramic views of the ocean, the mountains and Spanish coast. A cellar and outdoor parking place complete the property. Possibility of acquiring an adjoining apartment of 57 m2. 3.180.000 €.

Nestling in the most sought-after neighbourhood in Hossegor, this elegant 1920’s villa of 280 m2 with 7 bedrooms benefits from a unique location facing the lake, and grounds of 2,950 m2 with terraces and a tennis court. Technical unit and garage. 6,6 M €.

As clear proof of this vitality : “A prestigious property on offer at 2.5 M € was sold in the wink of an eye, on a Saturday morning, to a couple of German buyers who fell for its charm. The rules have not changed : renovated properties in ideal locations sell like hot cakes at high prices, while non-renovated houses, even in very good locations, take longer to sell. As for apartments, they hold less appeal than houses - a trend that began during the pandemic, and still prevails today”. While political uncertainties still hang in the air, Philippe Thomine-Desmazures shows measured optimism : “Over the medium term, I am still confident. The Basque property market is strong : it attracts, reassures and continues to surprise”. n