This wine region in France is suddenly one of the hottest luxury markets in the world

Median real estate prices shot up by more than 15 percent in the first quarter
September 17, 2017 03:17PM

Home buyers are flocking to Bordeaux now that a new train from Paris is running– and driving up real estate prices. (Pixabay, PxHere)

Thanks to a new high-speed train from Paris, Bordeaux is becoming a hot luxury market, which, locals would tell you, has always been the case. But now that the old gem is a train-ride away from modernity, the city’s median real estate prices shot up by more than 15 percent in the first quarter of the year, according to the Wall Street Journal.

Bordeaux is best known worldwide for producing almost a million bottles of wine per year, however it is also a UNESCO World Heritage Site and home to precisely 362 historic monuments in addition to the 18th century buildings that make up most of the city.

Buyers asking themselves whether they’d prefer a farmhouse, châteaux or hobby winery are pouring in to the city only to discover that, as of the start of 2017, the average price per square foot is up 21 percent from 2016 to $439.

Home Hunt’s Rory Ramsden credits the boom to the election of President Emmanuel Macron who “has given the French more confidence to invest for the first time in a long time.”

[Wall Street Journal] — E.K. Hudson