Interview

The real estate in Luberon, Provence Secrète, Sylvain Lenoir

The real estate  in Luberon
Provence Secrète, Sylvain Lenoir

“Provence Secrète exists since 2002. Since then, we have developed “Châteaux & Co”, which is neither a franchise nor a network of agencies, but a commercial alliance on the charm and character real esta- te market.”

“The real estate market in the Luberon is very active. There are a lot of transactions most of which are below two million euros. A correctly estimated property, selling at its market price, goes very quickly. This is particularly true of the one million to one and a half million euro price range. But that doesn’t mean that prices have dropped. Too many properties are still overestimated. When a house stays on the market for more than six months, it means that it’s overpriced. Unfortunately, quite a lot of owners overestimate their pro- perties.”

“The price of a mas requiring restoration depends on its location. In Gordes, Ménerbes or Bonnieux, in flat, open country, with no environmental detractions, you can expect to pay 600,000 to 800,000 euros, plus another 500,000 euros for renovations. If it has a hilltop location, the sales price will be around 1.2 million plus renovations.”

“For the last five years, a very well restored mas, with a contemporary exterior and no environmental detractions, has been going for about 2.5 million euros. This is the starting price in the Luberon today for a good-sized house with no refurbishing.”

“If our clients are satisfied, they come back to see us when they put the house back on the market and recommend us to their friends and acquaintances. That is by far the best publicity for a real estate agent.”

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The real estate  in Luberon