Are you planning to buy a property in Biarritz? Are you interested in the evolution of the sector on the Basque coast? Michaël Zingraf Real Estate's experts present the current characteristics of the real estate market in Biarritz and its region.
Biarritz, a very popular property sector for buyers
Biarritz has always been highly regarded for the beauty of its natural heritage and its art of living. Once a favourite holiday resort for European nobility, it has now become a leading destination in France for tourists, but also for a large number of property buyers. This strong popularity has recently been reinforced by the effects of the health crisis. Indeed, many urban workers (particularly those from the Ile-de-France) wanted to invest in a main or secondary (or even semi-main) residence in Biarritz and in the surrounding towns such as Saint-Jean-de-Luz or Bassussarry. This phenomenon, which has logically led to a significant increase in prices on the property market, makes Biarritz a particularly favourable area for property investment, such as the purchase of a luxury villa in Biarritz.
Property prices in Biarritz: what are the main trends?
Between 2020 and 2022, the Biarritz property market recorded an estimated price increase of around 8% (and +69% in 5 years!). In July 2022, the average price per square metre in the town ranged from 8,525 euros to 9,896 euros per square metre for new properties (houses and flats combined) and 8,473 euros for old properties.
This boom can be explained in part by the great success of second homes (representing 42% of the property stock according to INSEE) and the quality of the top-of-the-range properties on the market.
It should be noted, however, that despite this increase, property prices in Biarritz remain very variable depending on the geographical area. The areas located on the coast or close to it have much higher prices than the outlying areas far from the sea. Are you looking to buy a luxury flat or villa in Biarritz? Discover online all our exceptional properties for sale on the Basque coast or visit our agency in Biarritz.