Property prices rocket in Bordeaux

The cost of buying property in Bordeaux has rocketed in the past 12 months, with older apartments now 12.1% more expensive than at the same time in 2016, and house prices 10% higher.

The increase in price for older apartments puts the Gironde capital level with Nice as the most expensive place to live outside Paris, with prices averaging €3,590 per m2, Notaires de France said.

The Atlantic coast city has jumped from seventh to first in the apartment price list in a decade. Nantes, which recorded the second-highest price rise for older apartments, saw prices jump 6.3%.

Nationally, older apartments are 5.1% more expensive than the same time in 2016. Taking Paris out of the equation, the price rise for is 4.5%.

Buying a house in and around Bordeaux, meanwhile, will cost an average of €300,000, putting the city seventh in the list of expensive places to own property in France - but the 10% year-on-year increase is the highest across the regions, where the average increase has been 3.1%.

Outside central Bordeaux, Eysines and Talence are the most expensive areas for apartment hunters, with prices ranging from €2,700 to €3,590 per m2. The most affordable are Cenon and Lormont, where prices average between €1,700 and €2,100 per m2.