Where are the most sought-after second homes?
The luxury real estate market in France is benefiting from a certain urban exodus with the resurgence of second homes and the emergence of the concept of 'semi-primary' residence.
Due to the health crisis and several months of lockdown, the high-end property market has transformed, according to Barnes, a firm specialized in luxury real estate. This transformation is partly linked to the sustainable relocation of Parisian clients, particularly towards the regions. In the background, the development of the semi-primary residence concept is taking shape.
A booming demand, rising prices
The activity of BARNES Properties and Châteaux saw consultations on its website soar between March 2020 and February 2021 (+75%) and signed over 100 sales in the last fiscal year (+27% in number and +31% in revenue).
The concept of semi-primary residence
According to a survey conducted by BARNES at the end of autumn 2020, among the potential clients surveyed, 45% believe that the health crisis is leading them to rethink their real estate situation. However, most do not plan to sell their primary residence located in the city to move to the countryside, by the sea, or in the mountains. Hence the development of the semi-primary residence concept: sharing time between two homes… A new trend made possible by remote work…
The Côte d’Azur, Chamonix, Deauville… the target of buyers
In the high-end market, the most sought-after locations are the Côte d’Azur, Provence, the Basque Country, the Arcachon Basin, Chamonix, and Deauville.
In the Marseille-Cassis area, 66% of properties purchased are used as primary or now semi-primary residences. This observation is also visible in the Arcachon Basin where over a third of transactions reflect this trend.
A nearly universal increase in prices has occurred, sometimes even up to 25% on the Basque Coast. In geographical areas where prices are stable, many properties are finding buyers without negotiation.
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https://www.lejsl.com/magazine-immobilier/2021/03/16/immobilier-de-luxe-ou-sont-les-residences-secondaires-les-plus-recherchees
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