This peninsular region in western France with dramatic coastlines and prehistoric monuments has been long favored by foreign buyers.
Along with Foreign Buyers, Brittany Now Attracting More French Buyers
A pandemic-inspired influx of French buyers from larger cities is now competing with the steady stream of foreign buyers who have long been attracted to Brittany.
According to Gilles Durin, regional commercial director in Brittany for Patrice Besse, “The interest in Brittany has not changed for foreign buyers, particularly the English, who have always appreciated it. On the other hand, Brittany is attracting more and more French people. This area is one of the areas where prices have increased the most.”
Durin calls Brittany a “refuge region.” “The quality of life, good universities, proximity to Paris and the possibility of working remotely have been decisive. Above all, there is a climate that doesn’t make people fear global warming,” said Durin.
READ: 2022 Top Agent Success Secrets [Revealed]: New FREE Real Estate Coaching Web Event, Revealing 17 Surprising Secrets Of The Top 100 $ Millionaire Agents. Get Your FREE Spot For The 2022 Real Estate Coaching Webinar Now. After You Have Attended This Event You Will Have A Huge Feeling Of Relief Knowing You Will FINALLY Laugh At Your Money Worries – You Will Have Your Own Personalized 2022 Step-By-Step Business Plan. Learn Now How To Generate 100’s of Motivated Leads for FREE, Without Coming Off As A Pushy Salesperson and Losing Your Soul. You Will Soon Know How To Become One of the 1000s of Agents Making HUGE Money Who Never Thought They Could. YES, I Want To Attend The FREE Webinar! <——Click To Register
P.S. Free Webinar, Limited Space. Less Than 300 Spots Still Available.
Median Prices Up
In a July report from the Notaires de France, the median price per square meter of older apartments in Rennes, Brittany’s capital, increased +8.7% in Q1 2021 to $362/square foot. For older homes in Brest, the second-largest city in the region, the median sale price jumped +10.3% to $236,660 in Q1 2021.
Lisa Greene, the Grand-Ouest regional coordinator with Leggett Immobilier, said, “The pandemic has added further heat to an already hot property market in Brittany. Many French buyers wanted to move out of cities and acquire a home or holiday home in the countryside, plus the international demand did not abate. We actually sold many homes just from videos.”
Though prices are up, Brittany’s prices are comparative bargains with prices in the Cote d’Azur, Perche and Sologne and, for that matter, any other location within approximately 60 miles of a major city.
Brittany Boasts Several Notable Areas
Because few locations in the region of Brittany are more than one hour from the sea, those who love to sail may favor Saint-Malo, La Roche-Bernard or Saint-Quay-Portrieux. Beach lovers gravitate to seaside resorts in Dinard, on the Cote d’Emeraude. Foreign buyers are also attracted to medieval towns such as Josselin, Rochefort-en-Terre, Moncontour and Auray.
Sun lovers often gravitate toward Morbihan and its namesake gulf and dozens of islands.
Different Locations and Property Types Have Different Prices
Chris Slade, a co-operator with his wife Micki Slade of a real estate consulting firm called A House in Brittany, and Durin with Patrice Besse itemized some of the location/property options and prices:
- 4-bedroom house with garden in Brittany ranges between $174,000 – $405,000
- House with full sea view starts approximately $1.16M
- Manor house or mansion with land ranges between $580,000 – $695,000
Who Buys in Brittany?
The British are long-standing and predominate foreign buyers in Brittany. Joining them are buyers from Belgium, Holland, Germany, Australia and the US. Importantly, there are no restrictions on foreign buyers in Brittany.
Notaries working on behalf of the French government handle almost all sales for both buyers and sellers. American buyers, expect to come with financing in hand as it’s difficult, though not impossible, to obtain a mortgage from a French bank. Also, expect to pay 7% – 8% of the sale price in taxes and fees, including notary fees.
Thanks to The New York Times.
