Like everywhere else, France and the French economy have struggled with the effects of the coronavirus crisis. After imposing a strict lockdown in March and April, the economy has slowly started to reopen, including the housing market.
How has the French property market fared this year?
The French property market has shown itself to be surprisingly resilient this year. Just after lockdown was lifted in May, France saw a record-high national interest in investing in property, according to the Notaires de France. Whilst there was new interest due to buyers wanting to invest money into something secure, interest also came from pent up demand and those who had started the property buying process before lockdown.
Overall, French property prices rose 1% this year. Prices were still rising throughout August but at a slower rate. Estate agents have been busy, with many cancelling their usual summer holiday to cater to the demand for property. Physical viewings are still being conducted with the appropriate precautions in place.
Demand from international buyers?
Demand from overseas buyers is still present, despite COVID-19. British buyers, in particular, have been buying property due to the impending Brexit deadline at the end of this year. British nationals living in France can apply for residency from the 1st of October to ensure that they retain their EU rights before the Brexit transition period ends in October.
The Nouvelle Aquitaine region, known for its prestigious vineyards and picturesque landscape, has become popular with international buyers craving plenty of space and rural living. British buyers also have a keen interest in Brittany and Normandy, driven by the vast amount of properties for sale at reasonable prices in rural areas.
The situation currently
Like other European countries, COVID-19 cases in France have been rising recently. It is still possible to visit from the UK and elsewhere, albeit with restrictions. Although the British government has imposed a two-week quarantine for those travelling from France to the UK, there is no quarantine in France for travellers from the UK. So, once you’re there, you can make the most of your time.
With virus rising again, now could be the time to make your viewing trip and put an offer on your dream property. That way, you could be living in France and retain all of your EU rights before the Brexit transition period comes to an end.
If you would like further advice on the selling process in France, download your free France Guide.
Why not split the cost and double the fun of owning a holiday in France by buying with family or friends? Read our guide to Buying Abroad with Family
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