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Wednesday june 06 2012

Bordeaux vineyard prices: € 1.65 million per hectare in Pauillac

According to the National Federation of SAFER (French Organisation of Rural Landsales), in Aquitaine the average price of a vineyard reached € 76 000 in 2011 (+9.8% compared to 2010). The price increase is mainly set in the Gironde. There, the gap is widening between the expensive names and the others. A PDO vineyard in Bordeaux lost 1 000 € per hectare last year, declining to 15 000 €/ha. The Côtes de Bordeaux stabilized to 18 000 €/ha, but this average hides a great variability (from 7000 to 21 000 €/ha). In the Graves, average prices are up to 27 000 €/ha.

In contrast, growth is very strong in Pessac-Léognan (from 170 000 to 330 000 €/ha) in a very active market. The market is stabilizing in the Médoc. With the exception of Pauillac (+65%, up to 1.65 million euros per hectare). Stabilization also occurs in the Libourne region (900 000 € ha for Pomerol, 200 000 €/ha in Saint Emilion and 85 000 €/ha for satellites). The market remains dull in Sauternes and Fronsac (50 000 €/ha). Apart from Gironde, Bergerac knows little activity due to the difficulties of selling its wine. The average price arounds 9 000-10 000 €/ha, except for Monbazillac (15 000€/ha). The market is very small in Lot-et-Garonne (Buzet, Marmande, Duras), where the vines can not find buyer.

According to SAFER, during 2011 the Aquitaine region represented 9% of french vineyard transactions (810), for 18% of surfaces and 30% of the global value. After a strong decline between 2008 and 2010, there is recovery in transactions (+27%), surfaces (+23%) and value (+43%). The SAFER explained this trend by the recovery in export business, the return of investors after the financial crisis and the arrival of Asian investors (particularly Chinese, who now own 15 properties in the region).

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