The French Property Market – Opening up
France moved on to phase two of the ‘de-confinement’ process this week which means some really big changes. These changes include the opening of beaches, hotels, bars, cafes, restaurants, theatres, museums, gyms and more, we are now also allowed to travel around the country with no restrictions. This is wonderful news for France and the French Property Market because life can begin to head towards normality.
France also plans to reopen borders to other European nations, including the UK from June 15th. This will be done in line with other EU countries so there is likely to be a collective announcement on this very soon. International borders outside Europe remain closed for now, but this is being constantly reviewed over the coming weeks.
The next steps for the French Property Market
“This really is wonderful news, we have been looking forward to moving to this next stage” said Tim Swannie of Home Hunts, “We have many clients who are sat waiting patiently for confirmation that they can travel, there has been a lot of positive and excited feedback from clients since this news broke last week”
The French Property market has managed to remain quite busy throughout this strange period, it hasn’t been possible to conduct property viewings, but enquiry levels for Home Hunts only dropped by 12-15% compared to the same time last year. “Over the past couple of weeks, enquiries have increased substantially, particularly from European and British buyers, it really feels like we are going to have a busy summer” said Swannie, “We’ve agreed some sales during the lockdown, mainly with clients who viewed before confinement, a few agreed to buy on the strength of virtual visits. Travel restrictions within France were loosened on May 11th so we have been busy with local enquiries since then, but it is great to be able to welcome our clients from neighbouring countries too from this month”
Home Hunts are buyer’s agents covering France, Monaco and Switzerland, they have a team 30+ property specialists. The past couple of months has been a little strange, but it has also been a productive time in many way, clients have been more available and whilst some clients have put their search on hold for now, there have been more positive responses than negative. Tim went on to say “Many clients have said that they have had time to reflect on their priorities during this enforced lockdown and it has made them even more determined to move forward with plans to buy their new home. We are really looking forward to welcoming our clients in the coming weeks, we will be taking all necessary precautions for visits”
Unlike some other countries, the French property market is not a boom and bust market, it remained robust following the crash of 2008-2009 and it looks like it should weather the Coronavirus storm well too. “It looks like there is sure to be a rebound for the French property market over the summer and we are cautiously optimistic about the medium to long term future” Swannie added