{"id":112243,"date":"2021-07-27T11:07:07","date_gmt":"2021-07-27T16:07:07","guid":{"rendered":"https:\/\/sobarnes.com\/all-destinations\/lextraordinaire-ruee-sur-le-marche-de-deauville\/"},"modified":"2021-07-28T05:07:00","modified_gmt":"2021-07-28T10:07:00","slug":"the-extraordinary-property-scramble-deauville","status":"publish","type":"post","link":"https:\/\/sobarnes.com\/en\/realestate\/the-extraordinary-property-scramble-deauville\/","title":{"rendered":"The extraordinary property scramble in Deauville"},"content":{"rendered":"
In the wake of a year marked by a stampede of Parisian buyers snapping up primary and secondary residences in Deauville, some heavy question marks hung over the first half of 2021. Would the craze continue? \u201cThe trend has actually accelerated,<\/em>\u201d says B\u00e9n\u00e9dicte Belvisi, Director of BARNES Deauville. Between January and June\u00a02021, we posted turnover in excess of the entire year 2020!\u00a0This trend is not entirely unprecedented, however, as it is something we\u2019ve been seeing since 2017, a year marked by the \"gilets jaunes\" (yellow vests) strikes in Paris<\/em>\u201d.<\/p>\n Parisians are rediscovering Deauville and are increasingly looking to sell their primary residences in the capital (or their holiday homes in Provence or on the French Riviera) and move to Normandy. \u201cThe leap in quality of life is instant<\/em>\u201d, says B\u00e9n\u00e9dicte Belvisi. \u201cSince its creation in the 19th<\/sup>\u00a0century, Deauville has been considered a natural extension of Paris, the open air, the sea and greenery at that!\u00a0What\u2019s more, there are plenty of activities on offer, and the town even has a new cultural centre, Les Franciscaines, since 13\u00a0May\u00a02021, comprising a museum, an auditorium and temporary exhibitions.\u201d <\/em><\/p>\n However, the health situation has blocked foreign buyers from the Deauville property market for the last year. Only Belgian clients seem to be returning, and timidly at that, this summer.<\/p>\n New buyer expectations <\/strong><\/p>\n \u201cYoung people are increasingly dominating the buyer\u2019s market: they want to create a family retreat in Deauville where they can spend several days a week, especially since they can work from home<\/em>\u201d, explains B\u00e9n\u00e9dicte Belvisi. The most common scenario is that of people looking for a semi-primary residence in Deauville, but some buyers have deliberately left Paris to move to Normandy permanently and enrolled their children in schools.<\/p>\n These buyers have greater financial means than before for their buying plans in Deauville, with transactions exceeding \u20ac3\u00a0million becoming frequent these days. Comfortable budgets that were previously used to buy property in Paris, Provence or on the French Riviera, in particular.<\/p>\n Outdoor spaces are a near unanimous demand, whether for houses or apartments. So much so that properties without one have been taken off the market to instead be potentially rented out. \u201cAs for the countryside, buyers want properties in a calm, unspoilt setting<\/em>\u201d, says B\u00e9n\u00e9dicte Belvisi.<\/p>\n Which properties are most in demand?<\/strong><\/p>\n Strong demand synonymous with rising prices <\/strong><\/p>\n Seldom has a property market been characterised by such an imbalance between supply and demand. \u201cThere aren't enough properties available for sale<\/em>,\u201d says B\u00e9n\u00e9dicte Belvisi. \u201cOur portfolio has been halved and we have a waiting list for buyers. With an increasing number of <\/em>off market sales, without advertising<\/em>\u201d.<\/p>\n A situation that has triggered price rises of between 15 and 20% compared to the start of 2020, pre-COVID-19. And this upward trend has continued since early 2021.<\/p>\n (*) source BARNES Deauville<\/p>\n Increasing numbers of flash sales<\/strong><\/p>\n One morning in June, the BARNES Deauville team visited an apartment in a sea-view residence for the first time. At 11am, the sales mandate was signed electronically. The consultant immediately contacted one of his clients actively looking for a property and described the apartment, which matched their criteria. The potential buyer jumped in their car and arrived after a 2-hour drive with an offer at the asking price - around \u20ac800,000 - following a visit lasting just a few minutes! \u201cWe receive an average of 30 requests per apartment for those with a sea view, measuring between 70 and 100\u00a0sq.m. at \u20ac10,000 per sq.m.<\/em>\u201d, says B\u00e9n\u00e9dicte Belvisi.<\/p>\n Seasonal rentals: a new balance in supply and demand <\/strong><\/p>\n In terms of rentals, 2020 saw BARNES Deauville\u2019s turnover increase by 3.5! \u201c2020\u00a0was an entirely exceptional year,<\/em>\u201d confirms Isabelle Vaugeois, rental manager at the BARNES Deauville office. \u201cA frenzy that began in spring and continued off-season, until winter. With rental periods regularly exceeding one month. Things are now returning to normal, with average durations returning to usual levels at around 15 days<\/em>\u201d.<\/p>\n What about prices?<\/strong> According to Isabelle Vaugeois, they are stable overall, with sufficient supply to meet demand:<\/p>\n (*) Source BARNES Deauville<\/p>\n \u201cOur clients willing to pay over \u20ac100,000 per week for a villa on the French Riviera generally set a maximum budget of \u20ac25,000 per week for Deauville<\/em>\u201d, adds Isabelle Vaugeois. <\/em>\u201cThis imbalance had been present for many years, but 2020 seems to have reset the deck and brought the quality of supply in Deauville back to the forefront, both in terms of properties and services as well as lifestyle and leisure activities<\/em>\u201d.<\/p>\n Summer 2021 is seeing the return of regular families, the sign of a certain return to normal in the rental market in Deauville. Foreign clients, who were unable to travel to Deauville during 2020 due to health restrictions, are still few in number given the uncertainties still lingering over international travel. But the BARNES Deauville office has received requests from the United\u00a0States, Switzerland, Belgium and the Netherlands.<\/p>\n\n
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\n Average sale price in July\u00a02021 (*)<\/td>\n<\/tr>\n \n Family villa with charm in Deauville<\/td>\n 1.5 to 2.5 million euros<\/td>\n<\/tr>\n \n Apartment with a sea view in Deauville<\/td>\n \u20ac8,000 to \u20ac10,000 per sq.m.<\/td>\n<\/tr>\n \n House with charm in the countryside with pool<\/td>\n 1.5 to 2 million euros<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n \n\n
\n Price for a one-week rental in high season (*)<\/td>\n<\/tr>\n \n 3-bed apartment, 100\u00a0sq.m. with terrace<\/td>\n \u20ac3,500<\/td>\n<\/tr>\n \n Detached family house, 200 to 250\u00a0sq.m., 5 bedrooms, outdoor spaces<\/td>\n \u20ac7,500\/\u20ac10,000<\/td>\n<\/tr>\n \n House on the outskirts of town, 300 to 600\u00a0sq.m. with a pool and tennis court<\/td>\n \u20ac15,000\/\u20ac18,000<\/td>\n<\/tr>\n \n Manor or premium property on the seafront, 700\u00a0sq.m. minimum<\/td>\n \u20ac20,000\/\u20ac35,000<\/td>\n<\/tr>\n \n Thatched property in Pont-l\u2019Ev\u00eaque<\/td>\n \u20ac6,500<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n