The property market in Bordeaux is inching towards recovery after a historic downturn that has plagued new housing development in recent years. Real estate professionals in the region remain cautiously optimistic, betting on a rebound in 2026 and pinning their hopes on new policies favoring private landlords.
After three years of decline, driven largely by soaring interest rates, housing starts in Bordeaux are finally set to rise. Forecasts suggest that 2025 could see more than 4,900 new housing projects begin—an impressive 45% increase year-on-year. While this will bring the market back to 2022 levels, it still lags significantly behind the 8,200 housing starts recorded at the 2021 peak.
Price Adjustments and Increased Competition
Amid this challenging backdrop, there has been a long-awaited decrease in property prices. Developers, eager to kickstart stalled projects, are ramping up special offers and commercial discounts—sometimes quite substantial—to win over buyers. The recent moderation of interest rates has also improved buyers’ borrowing capacity by approximately €15,000 compared to a year ago.
Marketing activity picked up by 10% in the first nine months of 2025, but actual sales remain lackluster, dropping 4% over the same period. Alarmingly, the number of new homes available for immediate delivery but still unsold has soared to 15% of stock—an “extremely worrying” figure for industry insiders.
Detached Homes Make a Comeback
The turnaround is also visible across the broader Nouvelle-Aquitaine region. Housing starts and building permits are both recovering from their late 2024 lows. Gironde enjoyed a remarkable +28% increase in new housing starts over the past year, although numbers still fall a third below the ten-year average. Single-family homes, a traditional favorite, are up 29% to 62,000 units regionwide, though lingering well below pre-crisis figures.
Delays and frustration from previously frozen projects are encouraging buyers to act now rather than gamble on future economic and political conditions. However, plot sizes have shrunk considerably: 400 m² has become the norm, half of what was standard just a few years back.
Investor Uncertainty Hampers Full Recovery
Despite positive signals, investor confidence in Bordeaux real estate remains strained. The phasing out of the Pinel tax credit at the end of 2024 has led to a significant drop-off in investor activity. Investors will represent only 10% of Bordeaux’s residential sales in 2025—down from 30-40% a year ago, and far behind the shares seen in Nantes (16%) and Toulouse (34%). Many see the city’s 2022 rent control policies as a major deterrent.
Calls for Policy Change to Revive the Sector
Industry voices are now lobbying hard for new support, including the return of a tax incentive for rental investments and a freeze on tightening environmental standards, aiming to limit construction cost inflation. As the government debates the 2026 budget, professionals argue that swift action is critical to maintaining the fragile recovery and protecting jobs, with 30,000 positions already lost in the sector nationwide.
While a new “private landlord” tax status is under parliamentary discussion, experts warn it falls short of market needs. Its eventual impact will depend on the final version of the finance bill, expected by year’s end.
Looking Ahead
As Bordeaux’s property market strives to rebound, buyers and developers are cautiously hopeful for 2026. Much will hinge on favorable legislation and renewed investor confidence. In the meantime, competitive prices, fresh incentives, and pent-up demand could help put Bordeaux real estate back on an upward track.
