Côte Basque : A more reflective market

While the Côte Basque is still one of France’s most resilient markets, it is entering a phase more deeply thought out, in which a property’s intrinsic quality and location now dictate its worth. Meet Bénédicte Marchal, Manager of the Sotheby’s International Realty agencies in Biarritz and St-Jean-de-Luz…

Following 3 years of post-Covid euphoria, the region experienced a marked slowdown as from mid-2023. “The years 2023-2024 saw a real breakdown,” says Bénédicte Marchal. “We witnessed a significant decline in transactions, readjustment of prices, and more measured growth.” A much-needed pause before activity began to recover in the spring of 2025. “The market initially picked up in fits and starts before really moving ahead as from August. Political uncertainties have long set a brake on decisions, though buyers are now carrying their plans through.” As for prices, no real surge, but some adjustments. “At the very top end of the market, turnkey properties on the front row offering quality renovation, fine architecture, and a view of the sea, are now priced between 17,000 and 20,000 € per sqm. Today, the property’s condition is the determining factor : accommodation requiring renovation sells much less easily.” In this segment, seafront properties in need of refurbishment are currently worth from 10,000 to 12,000 € per sqm.

After 15 years in real estate in Paris, Bénédicte Marchal moved to the Côte Basque and now manages the two Sotheby’s agencies in the region, one in Biarritz, the other in St-Jean-de-Luz. Biarritz Sotheby’s IR, 4 avenue de la Reine Victoria, Biarritz 26 bd Victor-Hugo, St-Jean-de-Luz (05 59 22 04 22) www.biarritzsothebysrealty.com - www.saintjeandeluz-sothebysrealty.com

In Biarritz, in an elegant residence with gardens and a pool, this appartment of 200 m2 surrounded by 2 balconies offers a vast entrance hall, 2 interconnecting lounges, a dining-room, kitchen, and 2 large bedrooms. Parking place.1.680.000 €

In grounds of 2,000 m2 in Ascain, this spacious contemporary property of Basque inspiration opens out to 2 terraces and a pool. Its living space of 250 m2 offers 4 bedrooms including a master suite. A small independent house, a workshop and double garage complete the property. Vendue à 1.950.000 €.

In the highly-prized neighbourood of Beaurivage, 5 minutes from Biarritz, this magnificent, luxuriously renovated house of 250 m2 offers 6 bedrooms including 2 master suites. It benefits from a sublime landscaped garden with a heated pool and superb panoramic views of the ocean and mountains. 2.995.000€.

The clientele is also more diversified. “French buyers occupy a prominent position on the market and are taking action. As for international clients, American and Spanish buyers are back, along with those from Switzerland, Luxembourg, Belgium and Germany. We cover a small area : rarity reinforces a property’s value. We recently sold a front-row apartment in the Impérial neighbourhood in Biarritz for close on 2 M €.” Bénédicte Marchal also emphasizes that buyers are henceforth highly attentive to a property’s sustainability and energy performance. “They are looking for a home with good insulation, in desirable locations, offering real long-term value.” What of tomorrow ? “We are hoping for a stable political situation in order to leave this wait-and-see atmosphere. The Côte Basque remains a special market, underpinned by its exceptional living conditions. It still draws the actively employed, retirees, and investors in search of durable assets.”