How the second home market has reinvented itself in France
It's no surprise that the second home market has benefited greatly from the post COVID era...
Many city dwellers rushed to estate agents in the wake of the pandemic. And this frenzy is even more true for those who live in big cities: those who have been stuck in their flat for months, with only a piece of sky between two buildings.
The insolent growth in house sales in regions such as Perche or Normandy, where Parisians have rushed to find the farmhouse or half-timbered house of their dreams, with ease of access from their main residence as an essential criterion, bears witness to this.
The second home is no longer just a place to come and relax. The integration of telecommuting into everyday life has radically reinvented the use of country houses. This is what the latest Barnes study reveals: "43% of those questioned intended to reorganise their professional and family life", and 72% of them imagined making this second home a semi-main residence.
We can also observe a real rejuvenation in the categories of buyers: 1/4 of them are between 30 and 40 years old and young people under 30 are not left out since they represent 11% of the buyers.
There is a downside, however: not everyone can afford to buy a holiday home, particularly because of the high costs involved: property tax, council tax, repairs and maintenance, etc. Since the health crisis, many solutions have been developed to get around this financial problem, including the purchase by several people in the form of an SCI, with a manager in charge of the administration of the property: an excellent way to enjoy the time spent in the house, without time-consuming management of the property.