Second-Home Market in France Witnesses Boom
The market for second homes in France is continuing to boom after parts of France saw double-digit price rises in a year (January - December 2021) as people seek out green refuges after the Covid lockdowns. Britons are not put off by Covid or visas. Despite fears over Brexit changes, British buyers remain a significant part, often with the mission of finding a property they can drive to easily in a day. The Calvados department in Normandy, which is convenient for ferry terminals at Cherbourg, Le Havre, and Caen, is on the list of eight departments having a booming second-home market in 2021 and the first half of 2022. A list of the departments and their communes where there have been the highest percentage price rises in second homes. It shows prices across Calvados up 8.4% from January 2021 - January 2022 to an average €2,964/m², with the three seaside communes of Villers-sur-Mer, Cabourg, and Trouville-sur-Mer seeing the largest increases. Prices in Villers-sur-Mer rose 17.5% to €3,708/m², in Cabourg by 15.1% to €4,237/m², and in Trouville-sur-Mer by 14% to €5,169/m². Average second-home prices in Dordogne, a long-time favorite of British residents and second home owners, rose 7.1% last year to €1,533/m², with the commune of Saint-Cyprien seeing the largest increase. Elsewhere in France, the Mediterranean playgrounds of the south east retain their attraction for most second-home buyers despite the high prices, according to SeLoger. Average prices in Var department have risen 16% in a year to 3,961/m², while in the Alpes-Maritimes they rose 12.2% to €5,088/m². Cannes (Alpes-Maritimes) was the commune with the second-highest percentage price rise for second homes in France, at 26.1%, meaning houses sell for €5,493/m² in the former fishing village, which is now a second home to many high-profile French stars. The commune with the highest percentage price rise, however, is to be found at the other end of the Mediterranean coast, in Pyrénées-Orientales. Argelès-sur-Mer saw a 26.6% rise in a year to average prices of €3,034/m². Its more famous neighbours Collioure and Banyuls-sur-Mer saw 9% and 8.8% rises for prices of €4,747 and €3,306/m². Ski country sees the highest price per square metre. Away from the coast, the ski resort-rich departments of Haute-Savoie and Savoie remain popular choices, with a 16% rise in prices to €4,333/m² and a 7.8% increase to €2,313/m² respectively. Chamonix-Mont-Blanc in Haute-Savoie, the scene of James Bond’s skiing and gambling exploits, is highest-priced of all for holiday homes, with an average price of €8,300/m². Overall sales of second homes were up 7% in 2021, bringing the number in France to around 3.6 mn, with the trend continuing in the first half of 2022.
Tags : market second homes France Brexit changes British buyers property mission Calvados department Normandy Cannes