Access to a house “with your feet in the water” is now an absolute privilege. On the most popular coastlines, from the Basque coast to Cap Ferret via the Ile de Ré, the supply of frontline properties facing the ocean is tiny. Result: prices reach levels rarely observed elsewhere in residential real estate. In Bidart, the villa Itxas Gainameaning “above the ocean” in Basque, is thus estimated at more than 15 million eurosperched just 25 meters from the void with a beach located below. A striking illustration of a market where rarity takes precedence over everything else.
The waterfront functions as a microcosm, almost impervious to national trends. “ Buyers looking for this type of property know the risks (erosion, sea spray, storms) and accept thempoints out David Barbeau, manager of the l’Adresse agency in Brétignolles-sur-Mer. Those who fear these constraints move away from them », leaving a stable and solvent demand, where the supply freezes. So much so that on the immediate edge of the ocean, even the general drop in prices elsewhere does not dampen the appetite of buyers.
A market in its own right
On the Basque coast, a house with a direct sea view is rarely negotiated under the 10 million euros when the plot overlooks the ocean. On the Ile de Ré, the first lines of La Couarde, Bois-Plage or Sainte-Marie often exceed the 15,000 to 20,000 euros per square meter. At Cap Ferret, a villa on the ocean coast or on the Basin frequently reaches several millioneven when work is necessary. “ The waterfront functions like a micromarket, with its own rules. A property facing the sea is still 30 to 40% more expensive than a house located only three streets behind », recalls David Barbeau.
Rules and areas to watch out for
On the front line, there are numerous regulatory constraints. Sectors subject to erosion (red zones or strategic retreat of the coastline) strongly limit rights to build or renovate. Some municipalities prohibit any extension, and it becomes almost impossible to build on the immediate edge of the beach. Insurance can also increase to cover episodes of submersion or storms, even if, according to David Barbeau, “ today this has almost no impact on prices “. Buyers must nevertheless anticipate maintenance costs: facades subject to sea spray, damaged joinery, mechanical shocks in winter, etc.
Almost impossible negotiations
In this market where supply is extremely rare, the margin for negotiation remains very low. The most premium properties with, for example, direct access to the beach, a panoramic view or the absence of vis‑à‑vis go for almost the asking price. Declines rarely exceed 5 to 10%except major defect or heavy work. “ These houses with “feet in the water”, gate on the beach, remain extremely raresummarizes David Barbeau. Even in a context of an overall decline in real estate, these properties continue to be a dream and buyers are ready to pay the price. »
