In the wake of the COVID-19 crisis, many challenges related to the overpopulation of small spaces in town centres have been brought to light. BARNES Deauville has seen a strong upswing in demand in what is often considered Paris’ “21st arrondissement”. Both for acquisitions and seasonal rental.
Ask any Parisian, Deauville is above all known as a holiday home market. But that was before... Since 2019 and the ‘gilets jaunes" (yellow vests) crisis, many families have questioned their choice to live in the city. Any many have been tempted to make the move permanently to Normandy. The COVID-19 crisis and lockdown, in spring 2020, have forged a desire for additional spaces among city-dwellers confined for 2 months. This social phenomenon, combined with the rise in the home office, has sped up decision-making and the number of people looking for properties in the country. “We have seen a spike in demand since lockdown”, explains Bénédicte Belvisi, Associate Director of BARNES Deauville. “A yearning for outdoor spaces, an unmatched quality of life, close to the beach and the countryside, has spurred buyers to come to Deauville. However, we need to bear in mind the imbalance between supply and demand in the coming months as the market is highly active at this particular time and very few new properties are up for sale”.
Property prices in Deauville are stable, with apartments between €6,000 and €9,000/sq.m. The most sought-after properties go for around €1 million to €1.5 million in the Deauville area and up to €2 million in the centre, for Anglo-Norman villas close to the beach. “Our clientèle is made up of 90% Parisians wanting to acquire more spacious properties with an exterior. And a pool if possible. 2 hours from Paris by train or car, Deauville is living up to its nickname as Paris’ 21st arrondissement now more than ever!”, says Bénédicte Belvisi.
A very vibrant seasonal rental market
This year has been an unusual year for the real estate market, and seasonal rentals are no exception. “At the end of lockdown, many city-dwellers came here looking for greenery while teleworking. This way of life was an eye opener for some, and has sparked plans for a life in Normandy in some cases”, says Isabelle Vaugeois, Seasonal Rentals Manager at BARNES Deauville. What’s more, the uncertainty surrounding foreign travel in the summer of 2020 has led the French to consider holidaying in their native country, which they are taking great delight in rediscovering. In this context, Deauville is a dream destination for families and groups of friends wanting to get together during the summer holidays.
“Climate change is also contributing to Deauville’s appeal as summers become hotter, while also providing a cool oasis for city-dwellers during heat waves”, adds Isabelle Vaugeois. This new attraction has encouraged owners to rent out their properties, which will allow some to finance improvements, while others will tend towards rental investments. Hence the perfect synergy between the Transactions department and the Seasonal Rental department in order to best assist clients with their projects.
Deauville, a 100% #SoBARNES destination!
Tél. : +33 (0)2 57 48 99 88 / www.barnes-deauville.com
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