The emergence of Covid 19, its accelerated growth and the strained lockdowns subjected to by urban dwellers have brought about a hike in property prices in Brittany.
When the first lockdown was imminent in France, Parisians and city dwellers fled to their holiday homes in Brittany. Packed high-speed TGV trains arrived from the Paris Montparnasse train station to Brittany. Bretons also saw a rise in the number of Parisian cars mainly in the coastal towns of the Morbihan department.
When summer arrived, Brittany remained one of the major destinations in France due to its low Covid numbers. Unlike Paris and large cities, the hospitality and tourism trade flourished in spite of the strict social distancing measures mandated by numerous Breton towns. People sought open spaces, the beaches and the countryside.
Keeping in mind that eradicating Covid 19 will not be an easy task, people are eager to leave their urban lifestyles behind in order to live in less populated areas. Brittany is a winner in this respect with high-speed TGV trains as commuting to the French capital from south western Brittany only takes 3 hours. Moreover, working from home has also been widely promoted by the French Government – another reason why properties in Brittany with high speed broadband are in demand.
Property purchases and rentals are highly sought after, not only for coastal properties but also for those in the countryside. Airbnb has recently signed an agreement with the Association of Mayors in Rural France whereby they will jointly develop 15,000 additional tourist accommodation in France by end 2021. Training shall also be provided by Airbnb to future holiday home owners of the network in rural France. The aim of this partnership is geared towards the development of a long term economic model for rural areas and its inhabitants by offering a large variety of holiday lets which would in turn boost the economy in these regions.
Top end properties in the Morbihan departement are being sold by real estate agents within a few days and without any advertising. According to a property agent in Saint Brieuc, properties for sale which were normally on the market for 6 months are now being snapped up within 4 weeks. Saint Brieuc’s property market has finally become attractive. The President of the Regional Notarial Council, Damien Ruaud, mentioned that the municipal elections and Covid brought about a halt to new building projects. “There is a housing shortage in many towns”.
Moreover, scarcity of building materials has stalled construction projects mainly due to the repercussions of Covid restrictions which affected transport and the economy in general.
The property market in Brittany