NEWS SOUTHWEST IS BEST? N
ouvelle-Aquitaine saw record property sales last year, with prices rising by just under 5%. A report by Leggett Immobilier
attributes three main drivers to this demand for provincial country homes: • Buyers seeking larger and lighter properties following the pandemic. • A dramatic jump caused by flexible working, and the creation of the ‘work from holiday home’ option. • An influx of buyers from further south (particularly Spain), who are seeking a more equitable climate. The ‘flight to the country’ trend has
been widely reported, but the influx of ‘climate migrants’ into the region less so. “Our agents have been reporting that international buyers, seeking a second- home, have said that they are looking here rather than in Spain, Portugal and
Make your property pay in Arcachon
other traditional ‘hot’ destinations. The heatwave last summer saw a high of 47°C in Portugal. The temperate maritime climate of southwest France is now seen as a major selling point,” says the report. Investment in the region is also
highlighted, from both the EU’s ‘next generation’ plan and the French government. The region’s GDP of €172bn is the third highest in France, with almost 84,000 new businesses opening last year. Bordeaux remains the wine capital of the world and the growing cognac market, currently worth around €5bn, is forecast to double by 2032 (FactMR global insights). With rising inflation, more people are
looking for a return on their investment and the report points to the buoyant seasonal rental markets of Bordeaux and Arcachon, which appeal to tourists seeking a city break or a seaside holiday.
TRAVEL NEWS
France has abolished Covid restrictions for international travellers and masks are not required on public transport.
France has launched its first battery factory for electric cars, in Billy- Berclau, Pas-de-Calais. It is part of President Macron’s ‘reindustrialisation’ plan, with more factories set to open in northern France over the next three years. The Hauts- de-France region is being touted as the future ‘battery valley’ of Europe.
Good news for ecotourism too – France’s first licence- free hydrogen boat has launched onto the canals of Burgundy, offering zero- emissions and 100% fun! Based in Digoin, the William Grove (named aſter the British lawyer and amateur chemist who developed the first fuel cell in 1839) is available for hire by the day for 2-12 passengers (
canalous-plaisance.fr).
A COOLING PROPERTY MARKET D average of €3,467/m2
uring the first three months of 2023 French property prices witnessed a decline of 0.82% across the country, settling at an , as indicated by data
published by real estate network Laforêt. The capital city, Paris, however, saw
a more pronounced downturn, with a decline of 1.43%, managing to remain just above the symbolic €10,000 /m2 at €10,027/m2
. Notable exceptions to this downward
trend include Toulouse, Nice and Nancy, where prices have seen a slight uptick. When looking at market volumes –
the expected total number of property transactions for this year – the study anticipates a decrease compared to 2021 and 2022. In fact, the first three months of 2023 have already recorded a 7% drop in volume year-on-year. Several factors contribute to the cooling
of the market, not least the rise in interest rates and the larger down payments
Property prices are falling across much of France
demanded by lenders. Additionally, environmental regulations are playing a role, as buyers and sellers increasingly face the costs associated with improving a property’s energy efficiency.
threshold,
In August Paris will say au revoir to self-service rental scooters, or trotinettes. In a ballot of 103,084 Parisians, 89% voted against the e-scooters, which had proved unpopular due to safety concerns and parking issues. The ban will not extend to privately owned e-scooters.
EasyJet has announced two new flights between Birmingham and France – a daily route to Roissy Charles de Gaulle airport starting this winter and a three-times- a-week route to Lyon airport from October.
FRENCH PROPERTY NEWS: July/August 2023 13
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