As in many countries, this is a particularly diffuse moment, with the particularly fragile and old exhibition. We hope the authorities quickly apply the best policies to control the epidemic!
What is the impact on the French real estate market?
The immediate impact is to freeze the real estate market, since all real estate agents have closed even if they remain average by telephone or email.
Therefore, all visits to the house and sales are on hold and are delayed until after the end of confinement.
This week, confinement has spread to April 15, so 4 weeks in total, and if the number of victims does not begin to fall, it will probably extend until May.
This 2 months block will clearly reduce the number of transactions this year and probably also over the rest of the year due to the impact on personal and public finances.
If we verify what happened in the last financial crisis in 2008, the prices of the properties in southern France stopped increasing as you can see in the graph below.
This time, combined with the support of the Central Bank of Europe, a more solid banking system and the lessons learned from the previous crisis should also help contain the recession.
Also the underlying demographic trend in southern France is a constant increase of people who move to the area and set to the sun, so in the medium term, prices must remain stable.
There may be more fans who consider the home in the home of a villa in southern France after this period where companies have been attacked to accept work at home!
The confinement was much easier for lucky workers who could see the effect of spring on their gardens compared to those confined in the apartments of the small cities.
Whatever your real estate project, we loved advising and we will answer and answer any questions you may have if you consider France. Duration This period can still execute a search for property and, in certain circumstances, also organize virtual visits. Contact us so we can help you be the first in the spot when the market begins again.
