According to the quarterly report by the national association Notaires de France, in excess of 1.13m homes changed hands in France in the 12 months to May 2021, so it appears to be all change on the property front in France!
The initial uptick in demand for properties was attributed to the release of ‘pent-up’ demand which had accumulated during the onset of lockdown at the start of the pandemic. This demand is evidently being sustained and has been stimulated by the change in working arrangements that the pandemic has brought about for many and a general shift in buyers’ priorities and motivations.
Trends continue to see buyers replace the bustle of the cities with a movement towards suburbia or towards more rural areas in the search for more space, more natural landscape and a less dense population. The notaires report drew particular attention to a trend for quite a degree of movement of residents from departments that are within a few hours of Paris to other areas of France.
If you’re looking to move to France; you’ll want to know how have all of these changes in the French property market have affected the price of property. Less interest in the, once sought after big cities, is causing a slowdown in sales there and a plateauing of the prices. Equally, the surge in interest in property in smaller towns is tending to drive up prices in these areas. As the report commented there may be “a shift towards a real estate market that is more provincial, closer to nature and with more space, while still remaining connected. The shift may also be fuelled by the pursuit of a dual living environment.” Furthermore, the report discusses that non-resident foreign buyers are also casting their attention to more rural areas.
We’re living in unparalleled times and it remains difficult to predict whether these emerging trends will continue into the long term or if these are shorter term reverberations from the effects of the pandemic.
If you’re planning a move to France and would like information about the process of moving household effects and vehicles to France, our European moving experts are on hand on 01902 714555 or via sales@burkebros.co.uk.
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