Have property prices taken a hike recently in Brittany?
Happened to look online the other day and everything seems to have doubled since we last looked including one in the village in which we have property with an asking price of 900k€ which I would not have valued at a centime over half that.
It would explain why the estate agent has contacted me a couple of times asking if I want to sell.
Yes, though I confess I forgot to look at the quarterly review. They suggest only 5.6% increase though for Brittany which seems less than the impression I’m getting looking at the estate agent listings. Maybe Morbihan has risen more than the Breton average.
Property prices have risen substantially in Brittany and particularly in the Morbihan. Demand is outstripping supply which is why many agents are short of stock. It is most definitely a seller’s market.
It is the same here in the Clunysois and around Charolles.
An agent in Charolles cannot get enough properties to sell, probably bacause their owners cannot find anywhere else to go.
We were approached to sell our house, which we considered, but there is absolutely nowhere we could find that fitted our needs and had the same wonderful view.
We moved to Brittany from a very remote house in Northumberland, which we kept but have just put on the market. We have been shocked by the agent’s response and valuation - way above our expectations. The reason (according to the agents) is that the pandemic has completely changed the market for more secluded houses in open countryside in just these last few weeks - so maybe something similar is afoot in Brittany? - and this is a current phenomenon - maybe not registering yet in notaires’ past transactions, however recent the figures.
I have always been a tight arsed Scot when it comes to my own renovations I knew what I wanted to do when I bought the place and set myself a 5 year target and bought in the likes of new year sales, fire sales, bankrupt stock sales etc in the UK and the likes and stock piled it all for future projects, when my OH and I first started going out together and on her first visit here she asked what all the stuff in one of the outhouses was, she had found my future renovation stash
Whether or not I intend to sell, I always have an eye on the fact that I might do, so budget accordingly.
I would think this a very valid comment Geof. Their figures are retrospective.
The chat among people here is that ‘tout le monde’ wants to move to Brittany. We have seen an acceleration in enquiries from areas such as Cote d’Azur, Alsace and the Languedoc. We have even sold two properties to Brits last quarter purely by internet (sight unseen).
Sorry to hijack this post but just wanted to make sure Geof that you were aware of current capital gains tax rules in the UK for non-residents such as yourself. I’m sure you are but just in case I can provide a link to current advice if you wish.
Here in coastal 17 our local agent is certainly selling his stock fast. Interestingly the well known Uk agent is not. So presumably it’s the French buying in order to get away from the cities.
I haven’t really noticed much of a price rise here though.
Coastal 17 is an area that interests me for the future Chris. We used to live in the Languedoc which I find too hot (and too cold in the winter) and now in southern Brittany. I love it but my wife finds it a bit too wet at times so a compromise may be neccessary at some stage.
Could you please recommend a few decent towns or villages around that I could maybe start researching. I am no expert on the area but seem to think from my travels through on the way back to visit old friends in the south that it can be a bit ‘mixed’ with some lively, very attractive places and some ‘dead’ villages.
You’re assuming it’ll be ‘back to before’ soon Paul. I don’t think so. One factor is that more people are likely to want to continue working remotely - if for no other reason than that some will have discovered they like it. Big companies are already vacating office space. But moreover, I shared on another thread the view of many environmental scientists that the current pandemic is not a ‘black swan’ even, but simply one manifestation of climate/ecological breakdown - just another extreme event like wildfires, floods, crop failures, mass migrations, etc, that are going to be the new normal. The more people understand this, the more will want to move to less populated areas, with more space.