New 2021 Trends in Purchasing Property in France
Are you thinking of purchasing property in France and wondering if the pandemic has affected the property market? Have you been wondering what the new trends are for 2021? We wanted to find out more also, so we chatted with Joanna Leggett, Marketing Director at Leggett Immobilier, the leading international estate agency in France. Joanna tells us how buyer demands have shifted due to the pandemic and where the new “hot spots” are in France.
How the Pandemic is Shaping Demand
"Wealthy investors see lasting life changes after Covid-19" was the headline to a research paper published by UBS Wealth Management recently. The report shows how buyer needs have shifted dramatically and helps us gaze into the crystal ball, to see what is in store for the French property market in the coming years. Three quarters of those polled said that they anticipate permanent lifestyle shifts and, of course, property is central to how this change will be implemented.
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Leggett has seen record sales figures over the last 12 months and it is clear that the data in this research is accurately reflecting buyer demand.
More than 3,750 investors were quizzed on how they plan to adjust their lifestyle after the pandemic.
Here are the three main findings:
70% of people polled will reduce travel and trips to the office
Our agents are seeing record demand across the country, even from the UK, despite travel restrictions. It is noticeable that, no matter which country the enquiry comes from, an increasing number of clients are looking for properties with plenty of outside space and also with the ability to work from home. This means having plenty of room for a dedicated home office and also having stable and fast broadband connection. President Macron has introduced a strategic broadband plan France Tres Haut Debit, where the Government has committed to providing fast (minimum 30mb) broadband for all by the end of next year and fibre optic by 2025.
Additional research, this time from BNP Paribas, also highlights that buyers are now placing greater importance on both better digital connection and a dedicated room for work. With homeworking still being recommended by many Governments this is a trend that is likely to grow.
Half those polled intend to move closer to family
We all know that travel restrictions and Government lockdowns have brought home how important it is to be close to family. This means an increase in demand for rural property (cheaper prices mean more space) and, for those at the top end of the market, country estates with more than one property in the grounds. Once again, both pieces of research show the same findings, with UBS stating that 81% of people looking to move, now attach more importance to outdoor space.
Forty-six percent may forsake cities for less populated areas
That's quite a population shift, we’re not sure that the figures will be quite that high once the dust has settled but, for sure, rural property sales are booming. Many of our buying clients are coming from major cities and are looking to either move permanently, or to have a second home in the country, that they can use for extended periods of time.
Some press outlets speculated that the “90 day rule” brought in after Brexit would dampen demand from the UK, but the truth is that it hasn’t. Even though second home owners are increasing the length of their stay (and using their holiday home to work from) three months is an ample period for most people. Of course there are exceptions but they have not significantly impacted demand.
Four French Departments Tipped for Growth in the Next 12 Months
Orne
Normandy is the centre of the French equestrian industry, it boasts a 60km long "stud farm trail" and has over 300 horse riding centres and 31 hippodromes. We have seen a large rise in demand for equestrian properties, as they tend to have plenty of space and buyers have decided that now is a good time to fulfill their dreams.
The Orne department is at the centre of the equestrian industry as it hosts the Haras du Pin National Stud. Nicknamed the “Versailles for horses” it is the oldest stud in France and is intricately linked with France’s royal history and the thoroughbred industry. With an average price of 1,174 euros per m2 property here is exceptional value for money.
Properties for Sale in Orne
House in Domfront , Orne , Normandy REF: A05966
House in Carrouges , Orne , Normandy REF: 119186LOK61
Morbihan
Our team in Brittany has never been busier and we are recruiting across the region. One “hot spot” is the beautiful department of Morbihan, with many buyers drawn towards the coastal area around the Gulf of Morbihan, with its warm climate and picturesque islands.
The truth is that wherever you buy in Morbihan you will never be far from the coast, whilst the bustling towns of Vannes, Lorient and Pontivy provide plenty of bars, shops and restaurants. The cathedral in Vannes is spectacular, as is the historic old town with its half timbered houses. The average property price in Morbihan is 2,278 euros per m2.
Properties for Sale in Morbihan
House in Ménéac , Morbihan , Brittany REF: A06965
House in Rochefort-en-Terre , Morbihan , Brittany REF: 102324JLL56
Charente
This is a hidden gem of a department. Many international buyers head to neighbouring Charente Maritime for the beaches, or the Dordogne for its familiarity due to the TV shows. However, they are missing out on a beautiful area that is dominated by one of the prettiest rivers in France. The landscape is one of rolling vineyards and sunflower fields. The departmental capital, Angouleme is a walled city that every year hosts the “circuit des ramparts” classic car race. This attracts visitors from around the world and is a spectacular event.
Meanwhile, the nearby town of Cognac is home to some of the biggest brand names in the world (Remy Martin, Hennessy, Martell) and don’t miss out on visiting the Courvoisier chateau in the pretty riverside town of Jarnac. Property in the department is terrific value at 1,198 euros per m2.
Properties for Sale in Charente
Hautes Alpes
This is another department that is sometimes overshadowed by its neighbours. When you think of the Alps you will probably picture the famous resorts a little further north.
However, within this department you will find wonderful ski resorts such as Serre Chevalier. You will have 250km of slopes to choose from, as well as some of the most modern and effective snow cannon in France, which extends the season and helps rental yields. The skiing is exceptional and the historic town of Briancon boasts several buildings classified as UNESCO world heritage sites. The average property price is just 2,394 euros per m2.
Properties for Sale in Hautes Alpes
House in Les Orres , Hautes-Alpes , Provence Cote d Azur REF: A04560
Apartment 7 rooms in Saint-Chaffrey , Hautes-Alpes , Provence Cote d Azure REF: 116197JC05
Thanks to Joanna for her hot tips on the new trends in purchasing property in France and what's new for 2021. If you are thinking of making the move to France, Leggett Immobilier have lots of wonderful properties listed just waiting for you to make your new home.
