Bordeaux Real Estate: Navigating Unprecedented Times
“No, it’s not going away!” Jean-Luc Billard gestures toward his real estate agency, Laforêt. The agency is located on avenue Thiers, nestled in the heart of Bordeaux-Bastide. It’s a bitter reality for Billard. He’s had to lay off four employees. His agency in Bègles shuttered after filing for bankruptcy. He’s contemplating shutting down his Fargues-Saint-Hilaire branch too. This is a gut punch, a stark scene playing out across town, painting a grim portrait of the current state of the Bordeaux real estate market.
A Crisis Worse Than 2008
“I know there was a crisis in 2008, but even people who lived through it say it wasn’t much compared to what’s happening today,” says Billard. “We manage to hold our own with rental management for landlords. But in these crazy times it just seems like the real informality has been sunk by the rising interest rates.” He says he’s never seen anything like the current situation.
“It’s not just Billard feeling the heat.
”
In Fargues-Saint-Hilaire alone, I know that Plaza Immobilier filed for bankruptcy,”emphasizes the distressed agent. “The Bedin firm is barely wht is left after havingCollapsed down to one office. NCI Immobilier was sold.” He shakes his head slowly, adding, “Yes, it’s very complicated.”
The Big Picture: Developers Grapple with a Souring Market
Insufficient demand.
Pressure from surging construction costs. The war in Ukraine at the root of it all. These factors are sending shockwaves through the entire chain, from developers down to real estate agents.
“It’s true that it’s a fairly complex and unprecedented situation,” sighs Matthieu Roué. “Indeed, we have sales rates that are longer than usual, and there are delays in the Start of construction.”
Roué is the founder and manager of ADE-IMMO, a prominent real estate development firm headquartered near the Allées de Tourny in Bordeaux. ““There’s problems with rates and bank loans, absolutely,” he explains. He highlights the skyrocketing costs of materials and the unsettling lack of consumer confidence. “It’s amplified by government instability and the lack of clarity regarding housing policy
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Despite these odds, Roué remains “
confident thanks to a predilection for the luxury housing market. I can pull from its enduring strength.
Construction Jobs on the Line
Thierry Leblanc, president of the French Building Federation of Gironde, has a grim outlook.
“We have 54% more failures among companies in the sector,” Leblanc exclaims. “Today, we have a certain number of construction sites at a standstill because the developers have not managed to reach their sales targets. To give you an idea, new housing starts have fallen by 15.8% over the last twelve months. But it’s even worse for individual houses – we’re looking at a 35.3% decline!
What are the potential long-term impacts of the current crisis on the Bordeaux real estate market?
## Bordeaux Real Estate: Navigating Unprecedented Times
**Host:** Welcome back to the show. Today we’re diving into the tough reality facing the Bordeaux real estate market. Joining us is Jean-Luc Billard, owner of Laforêt real estate agency. Jean-Luc, thanks for being with us.
**Jean-Luc Billard:** Thank you for having me.
**Host:** Let’s get right to it. Things seem pretty bleak for the Bordeaux real estate market right now. We’re hearing about agencies closing, layoffs, the whole nine yards.
**Billard:** You’re right, it’s a difficult time. It’s not just my agency struggling. I’ve seen several others recently file for bankruptcy, like Plaza Immobilier and Bedin, both in Farguès-Saint-Hilaire. I’ve had to lay off four employees, and I’m seriously considering shutting down my branch in Fargues-Saint-Hilaire.
**Host:** You mentioned this crisis is worse than even the one in 2008.
**Billard:** Absolutely. People who lived through the 2008 crisis say this is far worse. Back then, it felt like a temporary setback, but this seems more permanent, entrenched. The rising interest rates have really sunk the market — it’s incredibly hard to find buyers willing to take on mortgages right now.
**Host:** So, what’s the future hold for the Bordeaux real estate market?
**Billard:** Honestly, it’s hard to say. I’m holding on to hope that things will improve, but I think we’re in for some tough times.
**Host:** Jean-Luc, thank you for sharing your insights. It’s a tough conversation, but an important one.
**Billard:** Thank you for having me.
**It’s important to note:** This interview is based on the provided text and does not reflect any additional data or insights.
