The Covid pandemic has sent property prices soaring in coastal areas, as city dwellers in France rushed to buy second homes or buy-to-let investment properties.
Price increases of around 20% for houses occurred in many coastal areas, notably along the Atlantic coast in Biscarrosse (29.6%), La Rochelle (+22.2%), Saint-Pierre d'Oléron (+21.9%), Andernos-les-Bains (+21.3%), and Saint-Malo (+20%). In Le Touquet-Paris-Plage apartment prices increased +20.8%, although in many other areas price increases for apartment trailed those of houses. Similar price increases occurred last year in many provincial towns, as we reported recently.
The increase in prices was also fueled by a shortage in supply, with many buyers holding off putting their property on the market and the construction industry reduced to a crawl by Covid.
As is always the case, it is not the same drumbeat everywhere. In some coastal towns prices fell, as was the case in Boulogne-sur-Mer (-2.6%) and Brignogan-Plage (-1.6%).
Prices for houses vary from €150,000 in Brignogan-Plage, to €350,000 in Pornic and €600,000 in the Mediterranean resort of Antibes.
For apartments, average prices are around €1,300m2 in Boulogne-sur-Mer, rising to €4,000m2 in Cabourg and €8,000m2 in Le Touquet-Paris-Plage.
The graphic below shows the average prices for apartments and houses and the movement in prices in the year. Our apologies for the quality of the image, which is due to a blurred original.
Source: Base de données des notaires de France, BIEN et Perval
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