Can changes in home buying intentions, be an opportunity for house sellers ?
Definitely yes, if you own a larger property, two recent studies have highlighted, showing an interesting shift in buying intentions over 2020.
With 165 billion Euros of extra savings, the 20% most wealthy in France who have been unable to spend their money due to the various lockdowns. Many are thinking of using some of those savings to buy property instead. With stock markets and bitcoins reaching ever new heights, maybe now is the time to cash in on those gains before the next financial bubble bursts. And property of course is a natural safe haven. According to IFOP, 42% of those with extra savings would like to buy a property.
A confirmation of this is that estate agents in the South of France are seeing unparalleled interest in higher value properties between 1M-10M Euros. Houses that had been on the market sometimes for years are now selling in a matter of months when priced correctly. In fact estate agents are running out of properties to sell. But in the French Riviera, there has not been significant price increases, but rather smaller margins for negotiating the price down.
The other tendency highlighted by French notaires, is that for once it is no longer the Paris region that is the locomotive for the property market. Instead a number of provinces and rural areas not far from major towns are getting a boost. In the South of France in the region around Aix-en-provence close to Marseilles houses have increased on average around 6%, whereas apartments in Bordeaux have dropped 5%.
This is part of the tendency of home buyers looking for more space and greener environments, after having been confined in small apartments. And with the advantages for many of teleworking and less commuting, why not benefit from a pleasant garden and all the joys of the countryside !
Definitely yes, if you own a larger property, two recent studies have highlighted, showing an interesting shift in buying intentions over 2020.
With 165 billion Euros of extra savings, the 20% most wealthy in France who have been unable to spend their money due to the various lockdowns. Many are thinking of using some of those savings to buy property instead. With stock markets and bitcoins reaching ever new heights, maybe now is the time to cash in on those gains before the next financial bubble bursts. And property of course is a natural safe haven. According to IFOP, 42% of those with extra savings would like to buy a property.
A confirmation of this is that estate agents in the South of France are seeing unparalleled interest in higher value properties between 1M-10M Euros. Houses that had been on the market sometimes for years are now selling in a matter of months when priced correctly. In fact estate agents are running out of properties to sell. But in the French Riviera, there has not been significant price increases, but rather smaller margins for negotiating the price down.
The other tendency highlighted by French notaires, is that for once it is no longer the Paris region that is the locomotive for the property market. Instead a number of provinces and rural areas not far from major towns are getting a boost. In the South of France in the region around Aix-en-provence close to Marseilles houses have increased on average around 6%, whereas apartments in Bordeaux have dropped 5%.
This is part of the tendency of home buyers looking for more space and greener environments, after having been confined in small apartments. And with the advantages for many of teleworking and less commuting, why not benefit from a pleasant garden and all the joys of the countryside !
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