Real estate prices are rising in coastal cities





The Covid-19 health crisis has led to significant demand for second homes on the coast. Brittany and Normandy are very popular destinations, the PACA region is less popular. Explanations.

The Atlantic coast is rising

There has been a major exodus to major cities since the Covid-19 pandemic. Thus, real estate prices have risen sharply in coastal cities. It is a recent study presented on July 2 by the site Meilleurs Agents that highlights this trend.

Thus, in Brittany there is a rise in prices by + 7.2% in one year, or 2,996 euros per square meter on average, the Canal rose by 5.9%, to stand at 3,110 euros on square meter. More generally, on the Atlantic coast, there was an increase of 5.6%, ie 4,372 euros per square meter on average.

There is a recovery effect in terms of prices compared to the Provence-Alpes-Côte d’Azur region, which historically recorded much higher prices. With very low interest rates, individuals no longer hesitate to take the step to acquire a second home and make a loan for a real estate purchase. Mainly because there are now many tools to do simulations and analyze the cost of credit. Individuals can easily compare the offers offered by different banks in the market.

Very popular seaside resorts near Paris

The coastal resorts that line the Canal attract Parisians for their ease of access: they only have three hours by road between Paris and Le Touquet-Paris-Plage, an elegant resort on the Canal where the square meter is averaged at € 6,544 .

Normandy is also very popular. This is the case, for example, of the Pays d’Auge. Pascal, 47, a bank executive, has taken the plunge. This Parisian has decided to buy a property in Beuzeville, near Honfleur. With its very picturesque town center, the place seduces the inhabitants of the city in search of authenticity. “Two hours from Paris, the excess is total. I like the sweetness of life in the region “, he is enthusiastic this forty years.

Pascal is not the only one who has experienced this feeling. Prices have skyrocketed very recently. The small villages around Honfleur are popular. Parisians who follow the visits and real estate agents struggle to find properties. Today there is a big imbalance between demand, which is very high, and supply, which is rare. It must be said that the region does not lack assets with its green landscape and its beaches. The heritage dimension also comes into play. This is the case of Honfleur, a legendary fishing port with its many art galleries and restaurants.

Cap-Ferret, the must

The markets on the west coast hold up very well because they have the support of the inhabitants of the conurbations of Nantes, Rennes and Bordeaux. These cities are attractive to workers. Many West Coasters are looking forward to buying a second home for the weekend.

This is the case, for example, of the people of Bordeaux and the Arcachon basin. It must be said that the place has many assets with its fishermen’s huts, its intense cultural activity. Many people have started shopping in the region. From the film “Les petits mouchoirs”, directed by Guillaume Canet, there is a real focus in this region. Cap-Ferret is a real must in many ways.

Prices are reaching stratospheric levels. A house is priced at 10,000 euros per square meter. Pool villas in the famous 44-hectare area are even more expensive. The largest French fortunes often have a place in the region. In the place, there is a real art of living. You can easily get around by taking the different bike lanes of this peninsula. There are several very popular addresses. This is the case of the Pinasse Café, on the Bélisaire pier. Chez Hortense is a real local institution. Enjoy simple, traditional cuisine in a charming setting overlooking the basin. It is essential to book.

The PACA region, a safe bet

In the Provence-Alpes-Côte d’Azur region, rates rose less rapidly (+ 3.1%), but the region remains fairly well at the forefront of the more coastal areas of France. more expensive (5,121 euros per square meter on average). It is in the PACA where the most expensive town in France is located: Saint-Jean-Cap-Ferrat: the square meter is trading at 14,058 euros. High prices and falling international customers in France, due to the pandemic, played an important role. In this region, it is the rich foreigners who set the tone in this high-end market.

Spas, already very popular before the health crisis, are the big winners of this pandemic. Thus, we were able to observe an increase in prices at beach resorts while prices in cities remained stable. The second home market is doing well. However, you should be aware that the acquisition of a second home is a very significant cost and that the costs should also be taken into account.

Many landlords no longer hesitate to rent their home through specialized sites. Platforms like Abritel or Airbnb are so popular that it’s becoming easier to rent a holiday home or apartment. Tourists can leave a comment after their stay to talk about their experience.

A very well managed system. The French are very fond of this type of holiday. Especially because a lot of people want to stay in France, because of the health context. It remains to be seen whether this trend will be short-lived or longer-lasting. In any case, the year 2020 marked a real turning point in the real estate market with a growing interest in medium-sized cities and maritime stations.

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