A viager is a French property transaction in which the seller transfers ownership of their home in exchange for an upfront payment (the bouquet) and a monthly life annuity. It is a centuries-old French legal mechanism, particularly well suited to the Basque Coast where land scarcity and patrimonial assets make standard transactions difficult for many buyers.
In an occupied viager (viager occupé), the seller retains a lifetime right of use and dwelling (DUH). They continue to live in the property. The price is mechanically discounted compared to the open-market value, reflecting the seller's continued occupancy. This is the most common form on the Basque Coast.
In a free viager (viager libre), the seller transfers immediate possession. The buyer may move in or let the property from the day of signature. Rarer in Biarritz, closer to a standard sale with deferred payment.
On the Basque Coast, the value of an owner's principal residence often represents the largest part of their wealth. Without moving — which most retirees refuse — it is difficult to unlock that capital. Occupied viager directly addresses this: the owner keeps their home, receives a capital amount and a monthly annuity, preserves their environment.
For investors, the entry ticket to acquire a Basque property at its market value remains very high. Viager corrects this by offering a structural discount, justified by the seller's continued occupancy.
