The prices for vineyards in Bordeaux are in free fall. Since 2014, the price per hectare for simple Bordeaux AOC locations has fallen from an average of 15,000 euros per hectare to 8,000 euros. Now, prices for more prestigious communal appellations such as Pauillac, Saint-Julien, Margaux, and Saint-Estèphe are also declining. This was stated by Michel Lachat, director of the Gironde department at the national organization for rural land development (Safer), to the magazine Vitisphere. The average price for Pauillac has decreased from 3.5 million euros to 2.5 million euros since 2021. In Margaux, property prices also fell by seven percent. In Saint-Émilion, interested parties paid hardly more than 100,000 euros per hectare for vineyards in the plains – half of what sellers hoped for.
Lachat does not expect prices for Bordeaux AOC to fall much further. Due to the clearings, a balance between supply and demand is slowly being restored. “However, I think we have not yet fully overcome the decline in communal locations, in the more prestigious appellations,” he explained.
(al; Sources: Vitisphere, Decanter)
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