A seller’s market? How the market has reacted to Covid-19 and Lockdown in France

A seller’s market? How the market has reacted to Covid-19 and Lockdown in France

A seller’s market? How the market has reacted to Covid-19 and Lockdown in France

It all seemed like doom and gloom back in March 2020 when the national lockdown and quarantine rules were announced but there has been a record-high number of enquiries locally and nationally in certain areas of France and many other European destinations, making estate agents extremely busy.

Once the lockdown eased in May, previous agreed sales (pre-March) were able to complete and French buyers were visiting safely, desperate to buy. In some cases, 2-3 clients offering full asking price at the same time making it seem like a “seller’s market” which has not been seen in rural areas of France for many years. Previously, buyers were offering anything upto 30% lower than the market price but with the increase in demand and offer’s coming in fast this has been increasing some house prices.

Looking at statistics from the official notaire website it appears the loss of time and movement has since been made up once the lockdown eased therefore although the local notary’s and estate agents will be saying it is their ‘best & busiest year ever’, it appears this increased activity of sales/completions overall has been a direct result of the lockdown. But good news is, it has been extremely positive and busy for rural and suburban properties for sale in France so we are seeing a shift in purchasing choices. Commercial and investment properties have been affected due to hospitality/catering/venues being closed and less office space required, seeing a dip in prices but this should bounce back.

You can check the value of your property in France here: https://www.immobilier.notaires.fr/en/home-prices

Overseas buyers can consider purchasing remotely as many estate agents in France are increasingly offering ‘Virtual tours’ to allow the client get a feel of a property and it’s environment.

It is a good time to look for your lifestyle home whilst we have the time to browse, also for selling if you wish to re-locate, as agents are able to mandate new properties during lockdown following safety guidelines (please take advise from your agent).

Many British citizens have yet to visit & buy their dream home in France and Europe. As we are now able to work remotely more, lifestyle is a massive consideration for the country and location you wish to buy in. Once the lockdown eases again and people can move about (especially with the promising news of a vaccine in sight!) sales should continue to be strong. Determined clients will still buy overseas despite any rule changes in becoming resident and holiday homes will always be in demand.

So overall the property market is buoyant right now due to local activity and with continued interest from the international audience we are hopeful this will remain the same in 2021.

Anyone looking to buy or sell a property in France please contact us. See our listings here.


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