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French real estate agents report rush of British buyers ahead of Brexit

Real estate agents have reported a rush of British buyers looking to snap up properties in France ahead of the Brexit deadline of December 31st.

Published: 2 July 2020 16:18 CEST
French real estate agents report rush of British buyers ahead of Brexit
Many British people want to move to France before the end of the year. Photo: AFP

For British people wanting to make their dream of moving to France a reality there is now a deadline looming – December 31st, 2020.

This is the end of the Brexit transition period and marks the last day that British people can benefit from European freedom of movement to start a new life in another country.

After several months of lockdown and travel bans, real estate agents in France say they are seeing a surge of enquiries as buyers look to make the move before the end of the year.

Trevor Leggett, boss of France-based agency Leggett Immobilier, is predicting the company's busiest period in 21 years of trading.

A company spokesman said: “Travel restrictions, due to Covid-19, have meant that there is a huge, pent up demand – Leggett Immobilier has a database of 50,000 buyers eager to move, with 100s of viewings lined up for visitors from the UK.”

And for British buyers, Brexit is an additional factor.

“The Brexit transition period ends on December 31st 2020 and there is a rush to purchase in France before then. 
 
“In reality, this means finding a property and having an offer accepted before September, to give time for the paperwork to be signed and the Acte de Vente completed.
 
“British buyers looking to move to France know that if they get in before the year end they will enjoy the same rights and benefits as those British nationals already living here.
 
“However, once the window is closed these rights are not guaranteed. It is likely that they will need to apply for a long term visa, pass “proof of income” tests, take out additional insurances and not see their pensions uprated.”
 
 
 
 
Rob Longeley of Beaux Villages agency concurred, saying: “Enquiries from Brits barely dipped during lock-down – interest has accelerated as we get ever closer to the end of free movement.
 
“And the 'imperative' of a likely hard Brexit at the end of the year has certainly focused the minds of UK-based buyers.
 
“A property transaction generally takes between 12 and 20 weeks, and so in that sense, to have keys in hand this year, the clock is ticking.”
 
And for people looking for rural property there is now added competition as French real estate agents report a surge in interest from French people looking to move out of the city and into the countryside.
 
The country's strict two-month lockdown perhaps focused people's minds on the joys of having a garden, while the huge increase in home and remote working during the pandemic has made it possible for people to contemplate moving to the country without switching jobs.
 
 
Home and remote working was also a factor for Leggett's clients.
 
“The main demand is for country property, with good broadband and plenty of outside space. The Covid-19 lockdown has shown that people can work remotely so barns that can be converted into a home office are also high on the buyers' wish list,” the company spokesman said, adding:  “We are also seeing a surge in demand for homes that are easily accessible from the UK.
 
“Brittany, Normandy and the départments down to the Charente and Dordogne have always been holiday home favourites and faster TGV routes mean that British buyers have good access by both road and rail – leaving less reliance on flights.”
 
 
But before you rush to buy, you need to make sure you meet the criteria for legal residence in France, as well as checking out the paperwork demands.
 
 
Rob added: “Of course whatever happens, people will continue to buy property in France in 2021 and beyond.
 
“And for owners of holiday homes, there will be some extra paperwork, but we expect the formalities to be straightforward.
 
“There is no need to panic and make a rushed decision.”

 

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PROPERTY

Remote working in France prompts property race to the coast

The rise in the popularity of remote working has led to a shift in the French property market, with demand for a place by the sea and suburban houses with gardens soaring, according to a recent study.

Published: 10 May 2024 11:10 CEST
Remote working in France prompts property race to the coast

Seaside properties have long come with a premium in France – but the post-pandemic rise of remote working has led to an even sharper increase in demand.

Coastal areas have seen population increases of between two percent and five percent compared to pre-pandemic times, according to Insee data collated by Ifop political analyst Jérôme Fourquet and Fondation Jean Jaurès associate geographer Sylvain Manternach.

In some popular seaside locations, their research found, populations had jumped by as much as 10 percent.

READ ALSO What are France’s laws around working from home that I need to know?

These population movements are “primarily affecting Atlantic coasts”, such as Morbihan and the Aquitaine coast, the study found. Further north, however, demographic pressure is generally lower – with the notable exception of the ever-popular Saint-Malo.

Meanwhile, in major cities, such as Orléans, Tours, Bordeaux and Strasbourg, there has been a notable shift away from central areas to the suburbs, dating back before the Covid-19 lockdowns, as French workers seek the ‘detached house with a garden’ dream.

But new remote working opportunities and experiences of ‘teletravail’ during lockdown and beyond have extended the scope of people’s reach from the suburbs to further afield, driving the rush to the sea. And that has consequences, with property prices in some coastal areas rising rapidly.

Fourquet and Manternach write: ”This phenomenon has helped fuel continued peri-urbanisation and demographic growth in the suburbs of France’s main metropolises, which are increasingly distant from the city centre.

The recent arrival of, “a wealthy population wishing to buy a home in coastal areas where real estate was already expensive has further increased prices, making them less and less accessible to the local middle and lower classes,” they said.

READ MORE: Revealed: Where foreigners are buying second homes in France

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