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Posted on 08/07/2020

Huge success for luxury seasonal rental in France


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Huge success for luxury seasonal rental in France
At the end of the deconfinement, the French favour holidays in their own country. Alexander Kraft, CEO of Sotheby's International Realty France - Monaco points out the appeal of luxury rentals. "There is a double effect of the deconfinement. The French are regaining their freedom and want to enjoy it, but they also increasingly want to try out a life with a second property or even imagine a switch to make it their main property". He distinguishes three motivations for renting in France, firstly to find a green space and a certain freedom, but also to rent a property before buying a second home, or to envisage a new life.  

Strong attraction for the sea

The first destinations of the French are the seaside destinations. In fact, Nathalie Forest, director of Nathalie Forest Sotheby's Realty, explains that their offer is too low compared to the demand for rentals. All properties are rented out quickly, from apartments with a sea view terrace to beachfront houses.  Depending on their size, the houses can be rented at rates ranging from 1,500 euros to 2,900 euros per week, while apartments cost around 1,400 euros per week. 


Similar effects in the mountains

In the Alps, Olivier Roche, director of Sotheby's Realty Meribel, Megève and Courchevel, has noticed an increase on the demand for next winter. According to him, there are various reasons for this evolution, first of all the Covid-19 incites people to stay within the borders, moreover, the mountains answer to the desire of holidays in the middle of nature, far from the pollution of the big cities. Megève retains its first place in the choice of seasonal residents, followed by Méribel and Courchevel, with chalet rentals ranging from 5,000 to 30,000 euros or apartments between 4,000 and 10,000 euros. 


Holidays in Provence

On the Côte d'Azur, Peter Illovsky, director of Sotheby's Realty in the region, explains that like his colleagues, he is feeling an increase in demand. Here again, the desire is to rent a property in order to consider a potential acquisition. Luxury properties are rented out at between 25,000 and 450,000 euros per month, with majority of the demand being monthly. 
Pascal Danneau, director of Provence Luberon Sotheby's Realty notes that the day after the deconfinement, all of his properties were rented, and demand is still strong, with rentals at around 5,000 euros per week. 


The Corsican exception

Corsica stands out from the crowd, being impacted by the shutdown of all transportation. Frederic Olivieri, director of Corsica Sotheby's International Realty, stresses that despite a reduction in demand, he remains confident for the months of July and August, betting on an increase of air traffic. In Corsica, villa rentals are between 15,000 and 40,000 euros.  


Click here to read the full article. 

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