The health crisis made the most of holiday homes market. The first confinement, difficult to live for many French, sent this market section sky-high. The second homes, which used to be chosen for holidays, have become a shelter in times of crisis. And for good reason, it offers a better environment while keeping working. According to Observatoire des mobilités émergentes, 5% of the French think of purchasing one in the coming years, and it climbs to 10 among the population living in the cities.
The coastline makes the most of this dynamic. Baie de Somme, Normandy, La Rochelle or Brittany “have no problems to find candidates” Ronan Pradeau, CEO of Sotheby’s Realty Bretagne, explains. It is the same with countryside, as long as it is close to cities provided with amenities: high-speed connection, high-speed train station, shops etc. The countryside has an extra advantage compared to the coastline: prices are far less expensive.
No matter which region, second homes have become pretty much an expansion of primary residences.
A hôtel particulier rarely changes hands. When it does, the transaction can run into tens of millions of euros, almost always away from public view. The French daily Le Parisien recently devoted an investigation to this distinct corner of the Paris property market,…
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