The pandemic and the way in which the consumer behaviour has changed is continuing to inform the property market in France, with some unusual twists and turns in trends for those looking to make the move to France. In particular, an unusual situation is emerging in which French rural properties are becoming the driver for rising property prices. In fact, rural property prices are now rising in value faster than apartments in Paris.
The capital and other major metropolises have always led the way in terms of property prices. With a change in buyer behaviour which is showing buyers are gravitating towards spacious properties with access to outdoor space; rural properties are being sold in increasing volumes, and with increasing numbers reaching the asking price. This has been partly attributed to residents in city locations who are continuing to work from home over the long term and are opting for more semi-rural locations from which they can commute to workplaces for a few days per week.
A survey carried out this year by the University of Paris and King’s College London amongst 1,000 Paris residents, enquiring about their future living plans, concluded that the cost of living in the capital is a factor in prompting residents to consider moving away. Of those surveyed, around 47% felt that the city was too expensive and 43% thought that they could find a better quality of life elsewhere.
Interestingly, seaside locations in France have seen prices increase by quite a sizable 12% in the 12 months to September 2021 and equally mountain resorts follow with a price increase of 8.8%.
Furthermore, the outer-suburbs of the main cities are seeing an increase in sales and prices. The outermost suburbs are seeing prices rise up to 8% and those in the immediate suburbs by 5%. Across the region of France, North-West France as a rural area has seen an increase in interest. Equally the far South-West (Landes, Pyrenees-Atlantiques and Gers) has also experienced a similar phenomenon.
Moreover, the rural areas of France, whilst offering more space and the benefits of an outdoor lifestyle, will still struggle with a shortage of services in comparison to the cities, the consequences of less developed infrastructure and the limitations of public transport.
Further information on changes in the French property market and emerging trends for those looking to make the move to France can be found here on the latest Notaires of France report.
If you’re planning a move to France and would like to speak to one of our advisors about the process of moving household effects and/cars, they can be contacted on 01902 714555, via email firstname.lastname@example.org or via our ‘contact us’ page. If you would like to book a no-obligation, pre-move survey with our moving consultants, our advisors will be able to arrange this with you. We also have a dedicated webpage outlining our removals and storage services for moving both to and from France, this can be viewed here.