Despite the uncertainty surrounding the COVID-19 pandemic, lockdowns on both sides of the Channel and travel restrictions, the French property market is performing well. We take a look at where the interest in French property is coming from and the outlook for 2021.
Brexit
The Brexit transition period ends on 31 December 2020, meaning that after this, it will be more difficult to move to France permanently from the UK. If UK citizens make the move before this date, they can retain their EU rights, secure residency and avoid the visas and excessive paperwork that will be needed after the transition period. This has created a recent boom in people moving over from Britain.
Lockdown retreats
Demand has also started to shift from permanent moves to second homes. When you think of a holiday home in France, a beautiful country house in a picturesque country setting springs to mind – what better place to escape to for lockdown?
Many see a holiday home in France as the key to escaping the crowds, bubbling up with family and enjoying the tranquillity and clean air of the French countryside. There has been interest in properties with great broadband, home office space and big gardens to allow for both working from home and enjoying the outdoors.
Go North
Traditionally, areas such as the Dordogne have been a firm favourite with British expats and those buying a holiday home. However, there have been reports suggesting that this interest is moving north.
Holidaymakers are now shifting their interest towards northern France, which has easier access to ferry ports and the Eurotunnel. Buyers are, therefore, looking for places that can be accessed easily by car, rather than by plane.
What can we expect in 2021?
Overall, the French property market has emerged strongly from the COVID pause. It’s predicted that these trends will continue into 2021, with British buyers opting for areas with easy access and in rural locations.
French buyers have also moved out of the cities and have settled in rural locations due to the shift in home working. If this continues, this could mean that properties in big cities come down in price, attracting more first-time buyers and young professionals.
Vaccine development and the French economy will also have an impact on the property market in 2021, so it’s likely that there will more new trends and shifts in property buying patterns in the new year.
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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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