Real Estate Investment in Nouvelle-Aquitaine:
complete 2026 city guide

Why invest in Nouvelle-Aquitaine in 2026?

Nouvelle-Aquitaine is the largest region in metropolitan France by surface area, and one of its most economically dynamic. With 6 million inhabitants, 700 km of Atlantic coastline, five universities and a solid industrial and agricultural base, it represents an exceptionally wide and varied real estate investment landscape.

In 2026, several structural factors favour investors looking beyond Bordeaux. First, the interest rate cuts initiated by the ECB at the end of 2024 have reopened the credit tap, with 20-year mortgage rates stabilised between 3.2% and 3.6%. Second, the price correction seen in tight markets like Bordeaux has made comparisons with other regional cities even more favourable. Finally, the region benefits from a net positive demographic momentum: between 2019 and 2024, Nouvelle-Aquitaine welcomed more than 120,000 new residents, the majority in coastal and peri-urban areas.

Tourism is another powerful driver: the Basque Country, the Périgord Noir, the Île de Ré, Arcachon and the Charente coastline generate some of the strongest seasonal rental demand in France, offering investors a dual income lever — long-term lets in winter, holiday lets in summer.

A region of very different investor profiles

Nouvelle-Aquitaine can broadly be divided into three investment zones with distinct characteristics:

• Premium coastal markets: Bordeaux, Bayonne, Biarritz, Arcachon, La Rochelle. High prices, strong demand, moderate yield (3–6%), but excellent resale liquidity and long-term capital appreciation.
• Intermediate markets: Pau, Angoulême, Poitiers, Limoges. Mid-range entry prices (€1,400–€2,800/m²), intermediate yields (5–7%), rental demand driven by university and administrative hubs.
• High-yield markets: Périgueux, Bergerac, Agen, Tulle. Very low prices (€1,200–€2,000/m²), yields of 7–9%, ideal for asset building on a limited budget or a multi-unit income strategy.

Which cities in Nouvelle-Aquitaine offer the best rental yield?

Gross rental yield — the ratio of annual rental income to acquisition price — varies considerably from one city to another across Nouvelle-Aquitaine. It would be reductive to rely on this figure alone when deciding where to invest: resale liquidity, vacancy rates and the risk of rent arrears are equally important. That said, yield remains the natural first filter for most investors.

Sources: DVF Etalab, Meilleurs Agents observatory, field data James Nisbet IAD Prestige — Q1 2026.

This table illustrates the fundamental dilemma facing investors in Nouvelle-Aquitaine: where Bordeaux reassures through its liquidity and name recognition, the Dordogne and Charente markets allow you to build an income-producing property portfolio with considerably less starting capital. An investor with €150,000 can acquire a renovated 83 m² three-bedroom flat in Périgueux generating €900/month in rent, versus a 30 m² studio in Bordeaux renting for €700.

Explore markets across the whole of France on our interactive French property price map to sharpen your comparisons with other regions.

Gross yield vs net yield: what really matters

Gross yield is widely quoted because it is simple to calculate, but it ignores service charges, property tax (which can be particularly high in some Basque Country communes), letting management fees, non-occupying landlord insurance and maintenance costs. As a general rule, net yield represents 60–75% of the published gross yield. A gross yield of 8% in Périgueux may therefore translate into a net yield of 5.5–6%, which remains excellent relative to the French national average.

Bayonne & Biarritz: the Basque Country market for investors

The French Basque Country is one of France's tightest property markets. The combination of world-class tourism appeal, an exceptional quality of life, a strong cultural identity and genuine economic dynamism makes it a sought-after destination for both investors and primary residence buyers.

Bayonne: the administrative capital at €4,800/m²

Bayonne, prefecture of the Pyrénées-Atlantiques, shows an average price of around €4,800/m² in 2026 — almost on a par with Bordeaux but in an even tighter market. The city is home to the majority of working residents in the BAB conurbation (Bayonne-Anglet-Biarritz), many of whom cannot afford to live in Biarritz at current prices. Rental demand is structurally strong: average void period for a well-presented two-bedroom flat is under 12 days.

For investors, Bayonne offers a gross yield of 4–5% on standard residential property, with long-term appreciation underpinned by demographic pressure and a chronic shortage of new construction (strict Basque Country planning restrictions). Small apartments in the historic centre — Petit Bayonne and Grand Bayonne — are particularly sought after and routinely sell within a week of listing.

Biarritz: coastal prestige above €7,000/m²

Biarritz occupies a category of its own. With prices averaging above €7,000/m² — and up to €15,000/m² for exceptional oceanfront properties — the town is aimed at a clientele of wealth-preservation investors seeking an international safe haven. Demand comes from wealthy French buyers, post-Brexit British purchasers who have not given up on the Basque coast, and affluent Spanish buyers from San Sebastián (30 minutes away).

Gross rental yield in Biarritz for annually furnished lets sits at 3–4%, but holiday letting can push this to 6–8% in peak season. However, short-term rental regulations have tightened since 2023: certain areas of Biarritz and Bayonne now require a change-of-use authorisation before switching to furnished tourist accommodation. This is a key compliance point to verify with a local professional before any investment.

For investors interested in the prestige segment of the Basque Country, our article on prestige property in Nouvelle-Aquitaine explores the specifics of this exceptional market in depth.

La Rochelle: between tourism and tight housing, a compelling market

La Rochelle is often underestimated by investors who remain focused on the Basque Country or Bordeaux. Yet the prefecture of Charente-Maritime offers an exceptional rental profile, driven by two complementary demand streams that alternate with the seasons.

B2 tight zone: what it means for investors

La Rochelle is classified as a B2 tight zone by the French government, reflecting a structural imbalance between housing supply and demand. In practice, this means vacant properties are subject to a vacancy tax, local authorities have stronger tools to encourage letting, and rental pressure remains high year-round. For an investor, it effectively guarantees sustained rental demand, with a very low vacancy rate — below 3% according to local estimates.

With average prices of around €4,200/m² in 2026, La Rochelle remains more accessible than Bordeaux or Bayonne. Two- and three-bedroom flats near the Vieux-Port or the University command market rents of €12–€15/m², enabling gross yields of 5–6% for well-located properties.

The dual student and tourist demand

The University of La Rochelle, founded in 1993, welcomes more than 10,000 students each year. Combined with the IUT, vocational colleges and specialist schools (Business School, maritime academies), it generates a highly stable residential rental demand from September through June. Studios and one-bedroom flats in the Laleu district or near the station let within days of the academic term starting.

In summer, La Rochelle becomes one of the Atlantic coast's leading tourist destinations. The city attracts more than 3 million visitors per year, with the largest share arriving during the high season (May–September). Apartment owners in the city centre or within walking distance of the harbour can switch to holiday letting during this period, significantly boosting their overall annual yield.

Worth noting: access to the Île de Ré from La Rochelle is a premium selling point for some investors. Island properties reach €6,000–€10,000/m² depending on the commune (Saint-Martin-de-Ré, Ars-en-Ré), but offer some of the most profitable holiday letting potential in the entire Nouvelle-Aquitaine region.

Périgueux & Bergerac: low entry-price markets in the Dordogne

The Dordogne (24) is probably the least well-known department among Parisian or Bordelais property investors, yet one of the most interesting for those seeking high yields on limited capital. Its two principal cities, Périgueux and Bergerac, present very different market profiles that each deserve a separate look.

Périgueux: €1,800/m² and yields of 7–9%

Périgueux, the Dordogne's prefecture, shows an average price of around €1,800/m² in 2026 — less than half the price of Bordeaux. The city is home to several thousand local and national civil servants (including the national philately centre, the historic La Poste headquarters), a major hospital hub, a university campus and several secondary schools and vocational training centres. This civil service base generates stable rental demand with very low sensitivity to economic downturns.

An investor purchasing a renovated 65 m² three-bedroom flat in Périgueux for €117,000 (excluding acquisition costs) can expect a monthly rent of €700–€750, equating to a gross yield of around 7.5%. These figures can improve further if the property is bought in poor condition and renovated, as renovation uplift is particularly effective in low-price markets.

Long-term investment in Périgueux suits a patient investor profile with a 10–20 year horizon, who prioritises solid rental income over strong capital appreciation. Resale liquidity is lower than in Bordeaux, but the very accessible entry prices offset this risk for investors building a rental income portfolio.

Bergerac: the Franco-British cross-border market

Bergerac has an even more distinctive profile. The town, known for its vineyards and its international airport (served by low-cost carriers from the UK and the Netherlands), has long been one of the favourite destinations for British retirees seeking an affordable rural French lifestyle. With village houses from €100,000 and average prices of around €1,500/m², Bergerac offers the lowest entry prices in our regional selection.

Brexit cooled British purchases somewhat, but the market remains active thanks to new Dutch, Belgian and German buyers attracted by the same art de vivre. Holiday letting demand around the Périgord Noir (Sarlat, Les Eyzies, La Roque-Gageac) can be very profitable: well-presented gîtes and character properties achieve 80–90% occupancy in summer at rates of €800–€2,500 per week.

Angoulême: Charente's university hub

At an average of €1,600/m², Angoulême completes the picture of Nouvelle-Aquitaine's high-yield markets. The city hosts the University of Poitiers (Angoulême campus), communication and design schools (including the EESI, École Européenne Supérieure de l'Image), and is internationally known for its Festival International de la Bande Dessinée (Comics Festival). This student presence guarantees demand for small units, with gross yields of 7–8% on studios and one-bedroom flats.

The Paris–Angoulême TGV line (1h30) also makes it an accessible market for Parisian remote workers looking to relocate to the provinces at lower cost, creating additional demand for larger family-sized apartments.

How James Nisbet supports investors beyond Bordeaux

James Nisbet is an IAD Prestige agent based in Bordeaux, but his network extends well beyond the Gironde. The IAD France network, with over 17,000 agents across the country, allows James to operate directly or to connect his clients with specialist agents in each Nouvelle-Aquitaine market.

Full regional support

In practice, if you wish to invest in Bayonne, La Rochelle or Périgueux, James can offer two levels of service:

• Coordination and referral: James identifies the IAD agent or agents best placed in your target market, manages the coordination and remains your single point of contact throughout the project.
• Direct involvement: for certain parts of the region, notably the Gironde and the Landes, James can intervene personally for viewings, negotiation and transaction management.

This structure gives the investor the benefit of both hyper-local market expertise and the overall oversight of a trusted adviser who knows their profile, objectives and financial constraints.

What James can do for your investment project

James Nisbet offers investors who contact him a no-commitment initial consultation to define together:

• Available budget and the optimal financing structure (standard mortgage, SCI property company, shared ownership…)
• Risk profile and investment horizon (immediate income vs long-term appreciation)
• The cities and property types best matched to your criteria across Nouvelle-Aquitaine markets
• Letting strategy: unfurnished long-term, furnished LMNP, co-living, holiday letting
• Building a robust financing file to present to banks

As an IAD Prestige agent, James is remunerated by commission on completed transactions, which means this initial consultation is completely free and without obligation. There is no incentive for him to direct you towards a market or property type that does not match your situation.

Investing in Bordeaux remains the benchmark

Before exploring the regional markets, it is worth noting that Bordeaux remains the reference market in Nouvelle-Aquitaine for investors who prioritise security and liquidity. At around ~€4,400/m² DVF intra-muros median (H1 2025), with gross yields of 3–5% and an ultra-tight rental market (void periods often below 10 days), the Bordeaux metropolis remains essential for a first investment or for an investor who does not wish to take on exposure to less liquid markets.

Our dedicated article on buy-to-let investment in Bordeaux and our full analysis of Bordeaux property prices in 2026 provide everything you need to evaluate the Bordeaux market in detail.