Alexander Kraft (Sotheby's International Realty France & Monaco) : Secondary residences, time for returning to favor?

After the health crisis, the link between buyers and secondary residences has changed. Before the Covid-19 epidemic, they didn’t really want to buy. Today, they are excited to buy again. They rediscover the advantages of having a secondary residence.

These 30-50 year-old-buyers from the Airbnb generation who worked from home these last months, look for ready to use properties with all the comfort they are used to when they rent: suite with bathroom, swimming pool, garden… They prefer to buy smaller but in better condition properties easy to maintain. They also wish to be close to train stations, airports, shops and hospitals, but also to cities in order to travel quickly. “Classic” destinations such as Côte d’Azur, Provence, Megève, Chamonix, and “new” one such as Basque Country, Cap Ferret, La Rochelle, Ile de Ré, or Britany have the advantage of offering a better way of living and appeals again to the Parisians.

It is the ideal period as prices haven’t increased and are still affordable for two reasons: for the moment, there are few foreign buyers and there are still many properties in stock.

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