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French property: Website crashes after tens of thousands bid for €8k house in Brittany

Local authorities in Brittany have closed a website after tens of thousands of people submitted a bid for a house being sold for under €8,000.

Prospective buyers peer into a real estate agency in France.
Prospective buyers peer into a real estate agency in France. (Photo by PHILIPPE HUGUEN / AFP)

At €100 per square metre, a stone property in the Brittany town of Lannion seemed like a steal. 

Although the cost of transforming the stone building, which used to house public toilets, into a comfy home might be steep, the €7,800 price tag is a bargain – particularly in a region where property prices have boomed in recent years. 

Local media reported that tens of thousands of people visited the web page advertising the sale. So many people applied to buy the property from the Côtes-d’Armor commune that applications were closed last week. 

The local authorities are now sifting through the dossiers of some 50 prospective buyers in an attempt to work out who would be the most suitable owner. 

Whoever is chosen will need to carry out works in line with the local urban plan, including an improvement to the building’s energy efficiency and replacing or covering lead surfaces. 

A previous buyer had been accepted but backed out of the deal after realising how much the renovations would cost. 

France rarely has the type of ‘€1 house deals’ seen in some regions of Spain and Italy (although those are often not what they appear), but in sparely populated areas local authorities can offer inducements to move including cheap property, help with renovation costs or even money upfront to buyers.

Meanwhile in areas of rural France older properties can be picked up comparatively cheaply, although anyone considering taking on a renovation is advised to do their research first, as these often turn out to be more time-consuming and expensive than expected.

French property tips – ‘double your budget and make friends with the mayor’

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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.

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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