The US Dollar buys a lot of Bordeaux Lifestyle
In 1992, a few years ago now, a former German newscaster and her film critic husband purchased a 9 hectare (22 acre) estate just north of St Emilion in the Bordeaux region of Southern France. They renovated the 16th century farmhouse and transformed it into a dream property modelled on the architectural styles so loved in the South of France. Surrounded by meadows, woods, with two lakes and at the end of a long private driveway, they created a large spacious residence filled with old charm features but offering a modern and comfortable family home.
Such was the interest in their story and the stunning nature of the property that in the summer of 2008 the New York Times published an article telling of their adventure as it was coming to a close upon the death of the husband in 2007.
The property was purchased by a Norwegian family who continued to upgrade and improve the estate and today it is being marketed again through Christie’s International Real Estate in Bordeaux as the quintessential Bordeaux lifestyle luxury residence. As the New York Times article says, it was on the market for 1.17m Euros back in the 2008 which, at that time was $1.48m USD. It is a reflection of the good value that Bordeaux real estate offers that today it is on the market for 1.219m Euros or just over $1.32m USD.
Bordeaux real estate attracts families and investors from all over the world. “La Pradelle,” the subject of this story and the New York Times article was owned by a German and now a Norwegian family. Who will be the next family to own this slice of Bordeaux paradise? Our bet is that it will be a dollar based country or at least a buyer from a country outside the Euros zone. It is true that luxury French real estate is very good value relatively speaking at the moment any way, however, if you add to that the weakness of the Euro compared to the Dollar, Sterling or Krona for example, quality real estate and lifestyle starts to look like very good value.
Just look at the statistics since the New York Times article. In 2008 the asking price value was $1.48m USD while today the same property over 7 years later with further improvements has an asking price value of $1.32m USD or $160,000 cheaper for a better residence.
Our job as Bordeaux Realtors is to reach out to those that may have an interest in the lifestyle that the Bordeaux region offers. We have plenty of blog articles enthusing over the Bordeaux area and all it has to offer. But today, we have another message; there has never been a better time to purchase luxury Bordeaux real estate and this one has to be worth at least a visit.