Regional Property

The last 18 months have been extraordinary for the French property market, with many agencies recording the highest volume of sales they’ve ever had. Now, they want properties!

Sue Mowat, Agent Commercial, Agence Eleonor, Eymet, explains “As with many agencies, we were prepared for the buying frenzy leading up to Brexit, but none of us could have predicted how buoyant the market would continue to be after December 2020. That’s especially true when the UK’s withdrawal from the EU was swiftly followed by a global pandemic with its seemingly endless months of lockdowns and travel restrictions.”

On paper, COVID should have been disastrous for the property market but, just as the prospect of Brexit led to record numbers of UK buyers taking the plunge and bringing forward their decision to buy a permanent (or holiday) home in France, the pandemic has had an unexpected, and very positive, outcome. COVID, with all of its rules and regulations on working and travelling had the effect of stopping people in their tracks. For some, it introduced them to the concept of working remotely, giving them a golden opportunity to step off the treadmill for a bit and to reassess how, or where, they really wanted to live their lives. For many agencies, that’s meant more Parisians, Toulousains, Bordelaises and other city folk coming through the doors, all on the lookout for maisons principales ou secondaires in the countryside. Thanks to much improved Internet connection, office-workers can carry on working from home whilst enjoying a slower and healthier pace of life.

This unexpected ‘new’ type of property buyer has been a welcome addition to the traditional core client base, which hasn’t really changed despite the politics and global viruses. There certainly doesn’t seem to have been a massive rush of Britons selling up and returning to the UK. In fact, we probably see more Brits moving within France, quite often for the weather – the Dordogne and south west offer a welcome change of climate for those in the north and south of France alike. Others who have brought up their families here are now looking to downsize, or they’ve reached an age when they want to exchange their large and lovingly restored homes for smaller, single level properties where they can enjoy a comfortable retirement, with some equity in the bank. In addition to those who are already resident in France, we are still seeing a steady stream of Brits who may have missed the EU Withdrawal Agreement deadline, but who are continuing their plans to buy French property postBrexit. Along with others from places like Australia, America, Canada etc., they simply inform themselves of the regulatory requirements and make the necessary Visa arrangements.

Sue concludes “Demand is very definitely outstripping supply right now so, for anyone who is considering putting their house on the market, I’d say there’s never been a better time. Increased demand often means properties are more likely to sell quickly and perhaps even at a higher price than prepandemic. Houses that are well presented, realistically priced and in desirable locations are definitely being snapped up.”