French Property Market Remains Resilient
A report compiled by the Notaires de France concludes that the French property market has actually remained in good shape despite the pandemic looming large and the associated lockdowns. The report outlines that house prices in the country rose by 4.2% and the price of apartments was even more affected, with a price rise of 6.5% in the 12 months to September 2020.
Remarkably, even though buyers were not able to attend physical viewings of the properties during lockdown, the number of properties exchanged was only down by 5% on the previous year by the close of September. This overall resilient performance was due to the very significant bounce back once the lockdown or ‘confinement’ restrictions were lifted in May and the bottle neck of house moves were released.
The demand continued through the summer and into the autumn. Equally French property agents found that due to virtual property viewings and the option of electronic signatures etc to authorise documents remotely, the level of contract signings remained at a good level even during the second lockdown. The surge in interest in British buyers making the move to France was, of course, also exacerbated by Brexit and the rush to make the move prior to the deadline in December.
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