Why is it Worth Buying by the Seaside?
Put aside old stone houses and enjoy the comfort of new housing by following our tips. Why not look for a pied-a-terre with sea view?
Despite the economic crisis, having a first or second home set by the seaside always brings enthusiasm. Nothing is better than having a place where you can live or stay as long as you want. With a second home, you don’t need to find a hotel accommodation or a rental for the holidays. Long live DIY, gardening, bursts of oxygen and relaxation! A second home can also have other advantages. Settle there once you are retired. Or even long before, especially with the reduction of working time, the Internet, the TGV. You don’t need an office to work anymore.
One can also imagine it as a rental investment with tax benefits and additional rental income in the end, while enjoying a few weeks personal occupancy. Instead of looking for a Normandy cottage, a farmhouse in Brittany or a Vendée Provencal farmhouse, why wouldn’t you buy a new apartment? If the French like the seaside or the countryside, they also love sunny places. Obviously, the Provence-Cote-d’Azur region is at the top of the list and one of the most popular destinations. Indeed in 2011, it registered up to 86 million nights, far ahead of Aquitaine and Normandy (39m overnight stays), Brittany (36m nights), Languedoc Roussillon (31m) or the Poitou-Charentes (27m). This attraction in the South of France necessarily reflects the real estate market that retains some dynamism despite the crisis.
As everywhere, the French opt for the stone houses rather than relying on stock market investments, as this has become too uncertain. However, many testimonies argue that the increase in prices is slight. ‘Prices remain the same or increase very little,’ stresses Francois Payelle, the Federation of estate promoters’ new president (FPIs). Globally, the values of apartments, including 2 to 3-room flats which are subjected to high demand, remain steady. Especially in the renowned sea resorts (Le Touquet, Deauville, Biarritz, Saint-Tropez…) However, houses are sold less even if they appeal more and more to customers. It is quite normal when they require a larger budget. Nevertheless, their prices are not falling anymore. One of the reasons, which explains this price resistance, is that demand remains higher than supply, although it decreased after the crisis. If you are considering buying a house in frontline, do not expect a potential fall in prices. You have better bet on interest rates that are currently very low, and could rapidly skyrocket soon, as some experts plan. A good opportunity is offered to you, and we advise you to use it!
Then, all the different tips we can suggest you in order to buy a seaside property are:
– Explain your project: why do you want to buy there rather than somewhere else by the seaside?
– Enjoy yourself: do not hesitate in taking your time to look for the ‘perfect’ house.
– Prefer the location
– Have a look at promotions or opportunities: catch up bargains!
– Be aware of services that are offered to you
– Build-up a new estate heritage
– Calculate the best yield
– Make a good investment