France: Bordeaux continues to attract investors

France: Bordeaux continues to attract investors

Real estate in Bordeaux resists crisis which settled in whole France. Despite the fact that most of the transactions were initiated in autumn 2012, the experts state the fairly strong demand for real estate in Bordeaux.

Small areas of Bordeaux are valued most. For example, on Rue des Bahutiers, a few steps from Rue Sainte-Catherine and Quai Richelieu, the agency Era Immobilier Bordeaux recently sold the studio of 18m² for € 90,000. Apartments will be rented out for € 500 a month with income 6-7%.

The building near Jardin Public, consisting of five units that are rented, changed hands for € 440,000. According to Christophe Nouhet, managing director of agency Era, relatively low price for this area is the fact that "the building needs some renovation and modernization."

Also there are buyers in the heart of Bordeaux. However, given the increase in prices (€ 3,258 per square meter on average for apartments and € 2,149 – for houses, according to the National Federation of Property in France), "the buyer with an average budget of € 150,000 - € 250,000 likely will settle in the suburbs," said Christophe Nouhet.