A Basco-Gaulish village that withstands the crisis so well
While it is observed at the national level that the average purchasing power has increased, and that average prices in residential real estate are on a slightly downward trend, it is quite the opposite on the Basque Coast: real estate continues to show remarkable health, with a trend still oriented upwards.
A demand that never dwindles and a supply that cannot keep up are the reasons for this phenomenon. In fact, new properties in estimation and under mandate are negotiated very quickly with a clientele eager to buy, who are on the lookout to seize any opportunity to find their residence (both primary and secondary) on the Basque Coast.
The real estate market operates in sync with the seasons: in winter, the portfolios of sales mandates are generally rebuilt to tackle spring with usually nearly 200 sales mandates. However, since the crisis, activity has not slowed down, and the number of purchasing clients continues to grow, resulting in a decrease in the number of mandates compared to previous seasons.
'This decoupling between economic life and the real estate market defies economic cycles, just like stock indices. The stimulus plans from central banks and this influx of money into the economy create what could be called the real estate stagflation: a moribund economic activity, with inflation in real estate prices (at least on the Basque Coast).'
Hence the question everyone is asking: Can this last much longer? The trend suggests that it could continue.
To learn more about this trend, discover the full article on the BARNES Côte Basque: Market Point Spring 2021 website.
Click link to read the full article :
https://www.barnes-cotebasque.com/actualites-immobilier-prestige-cote-basque/actualites-1/point-de-marche-printemps-2021-366
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