The summer season is at its peak. The opportunity for the National Property Federation (Fnaim) to take stock of the property market in seaside resorts. A total of 480 communities were identified. Since the end of the health crisis, they have been increasingly drawn to the French, and the frequent heat peaks in France are weighing on their desire to acquire a pied-à-terre by the sea.
First observation: The four most expensive communes in France are seaside resorts. In Saint-Jean-Cap-Ferrat (06), Ramatuelle (83), Saint-Tropez (83) and Lège-Cap-Ferret (33), property prices are reaching record highs, well ahead of those in Neuilly-sur-Seine (92) and Paris. Count €16,500 per square meter in Saint-Jean-Cap-Ferrat, around €14,000 in Ramatuelle, €13,500 in Saint-Tropez and €11,700 in Lège-Cap-Ferret and “only” around €11,200 for the city of Hauts-de -His and 10,700 euros for the City of Lights.
A post-Covid effect
“There is clearly a ‘post-Covid effect’ for seaside resorts“, explains Jean-Marc Torrollion, President of the Fnaim. “As we have seen for medium-sized cities, at the end of this health crisis, the French are looking for escape, space and nature. More than ever, getting out of large urban areas is a priority‘ he analyses.
The price per m² is on average higher in all seaside resorts than in the rest of France: it is €4467/m² on June 1st compared to €3020/m² in the rest of France. The price in the seaside resorts has also increased more in a year: +13% compared to +7.7% for France as a whole. It should be borne in mind that 47% of properties in seaside resorts are second homes compared to 10% in the rest of the country. It is therefore a specific clientele.
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Normandy and Brittany have the lowest prices on the coast: they range from 3400 to 3500 euros/m². On the canal side, however, real estate is becoming increasingly expensive. Before the health crisis, prices had risen by 5.2% over two years. After that, the increase increased six-fold: +30.6% (over two years). Last lesson: In all seaside resorts, it is essentially the houses that drive up prices. In less than 2 years, since July 2020, their prices have increased by +28% compared to +20% for apartments in seaside resorts.