USEUROPEAFRICAASIA 中文雙語Fran?ais
    China
    Home / China / Business

    Bordeaux property prices rebound on renewed interest from Chinese buyers

    By Bloomberg | China Daily | Updated: 2014-12-26 09:10

    Buying from China is underpinning a nascent recovery in Bordeaux wine-estate prices, boosting demand for mid-level vineyards while top properties have rebounded to levels last seen in 2000, according to broker Michael Baynes.

    Investors from China have bought about 100 Bordeaux estates since starting to focus on the area in 2010, helping reverse a slide in land values set in motion 15 years ago by the onslaught of New World competition in the global wine market, Baynes said in an interview at his offices near Saint Emilion.

    He is a partner in Maxwell-Storrie-Baynes, an exclusive affiliate to Christie's International Real Estate.

    While Chinese buyers have focused on mid-tier properties typically selling for less than 1 million euros ($1.22 million) per hectare, that has supported demand across the region, where the top 150 estates now command prices ranging from 1 million to more than 10 million euros per ha, he said.

    The 350 estates ranked just below the top 150 are valued at 1 million to 3 million euros per ha, while the next 500 cost between 250,000 euros and 1 million euros per ha, according to Baynes.

    The area comprises more than 7,000 properties spread across 106,000 ha of vineyards.

    "I think these first 100 buyers of Bordeaux chateaux have absolutely called the market correctly and they're on to something very interesting," Baynes said.

    "What they look at is the bottom line. They want what we would regard as a trophy because that sells wine. They don't do something unless there's a clear profit margin at the end of it."

    In a deal Maxwell-Storrie-Baynes brokered by Hangzhou-based New Century Tourism Group bought Chateau de Birot in the Cadillac Cotes de Bordeaux region on the right bank of the Garonne, a property covering 34 ha with an 18th century mansion and about 25 ha of vines.

    New Century, which owns 160 luxury hotels employing 24,000 staff, bought the property from the Fournier-Casteja family, who owned it since 1989, according to the estate's website.

    Arthur Fournier, who already runs the chateau, will stay on under the new owners.

    Baynes said variations in the Bordeaux market are driven by location, much in the same way as prime London real estate, while the chateau properties at the very top of the rankings tend to "behave much more like a piece of fine art than they would a piece of real estate", he said.

    Prices he quoted exclude buildings, wineries and stock.

    "Saint Emilion is just over 5,000 hectares," he said.

    "It'll never be more than that, so it's a very limited supply."

    Prices for estates in areas such as Pessac-Leognan and Lalande-de-Pomerol are rising, both reflecting the quality of wine and in some cases their proximity to top-brand estates or higher-priced regions.

    "We've seen a pretty strong recovery in those prestigious appellations," he said, a trend that dated back to 2010, when the critically acclaimed 2009 vintage came on sale and international attention was focusing on Bordeaux.

    Further down the scale, he said, prices have leveled off and for some properties are just starting to climb back after a 50 percent slump over the past 15 years.

    "In 2000, a nice Entre Deux Mers Bordeaux Superieur parcel of vines would have traded for around 40,000 euros per hectare," Baynes said.

    "Today that same parcel would be trading for around 21,000 or 22,000 euros and two years ago it would have been trading for around 20,000 euros. So we're seeing a slight recovery, but from a position we've halved."

    He said there has not been any noticeable slowdown in Chinese buying interest since a crackdown started on gift-giving and luxurious living styles.

    "We have seen no effect at all. If anything, we've seen an increase," Baynes said, while noting the current pace of acquisition may be hard to maintain.

    "It's quite possible that there won't be such intense purchasing by Chinese into the future," he said.

    Bordeaux property prices rebound on renewed interest from Chinese buyers

    The Chateau Bellefont Belcier, in the southwestern town of Saint Emilion near Bordeaux. A 47-year-old Chinese industrialist bought the landmark property in 2012. AFP / Nicolas Tucat

    Editor's picks
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    亚洲乱码中文字幕综合| 亚洲欧洲日产国码无码久久99| 久久AV无码精品人妻糸列| 日韩A无码AV一区二区三区| 久久AV无码精品人妻糸列 | 天堂Aⅴ无码一区二区三区| 日韩A无码AV一区二区三区| 无码AV波多野结衣久久| 国产色无码专区在线观看| 人妻少妇久久中文字幕一区二区| 国产V亚洲V天堂无码| 中文字幕av无码专区第一页| 91中文在线视频| 日韩无码系列综合区| 无码人妻丰满熟妇区免费| 精品中文高清欧美| 久久ZYZ资源站无码中文动漫| 日无码在线观看| 日韩精品无码久久一区二区三| 欧洲无码一区二区三区在线观看 | 中文字幕一区二区三区永久 | 亚洲美日韩Av中文字幕无码久久久妻妇| Aⅴ精品无码无卡在线观看| 无码欧精品亚洲日韩一区| 区三区激情福利综合中文字幕在线一区| 亚洲AV区无码字幕中文色| 亚洲熟妇无码八V在线播放 | 国产成人AV片无码免费| 亚洲国产精品无码久久久不卡| 日韩精品无码免费专区午夜 | 中文字幕无码精品三级在线电影| 精品人妻V?出轨中文字幕| 大地资源中文第三页| 最近免费中文字幕大全免费 | 精品无码成人片一区二区98 | 无码成人精品区在线观看| 中文字幕在线视频第一页| 中文无码字慕在线观看| 精品亚洲AV无码一区二区三区 | 国产AV无码专区亚洲精品| 免费无码婬片aaa直播表情|