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French coastal real estate prices on the rise
According to a study by MeilleursAgents, real estate prices have increased in almost all French seaside resort towns over the last twelve months, continuing a recovery that began two years ago.
On the Atlantic coast, Lège-Cap-Ferret is both the most expensive city and the city where prices have increased the most (up 7.5% annually), at €6,780/m2 on average for an apartment and €6,270/m2 for a house. Cap-Ferret, and the general area surrounding the Arcachon Bay (+14% in two years), illustrates the boom in the Bordeaux market and the whole of the Aquitaine region.
Closer to Nantes, Pornic, famous for its thalassotherapy, also shows a strong increase (+6.3%) while La Baule remains the most expensive in the area: €4,700/m2 for an apartment and €3,900/m2 for a house. L’Aiguillon-sur-Mer is the cheapest on this coast, at €1,850/m2 on average for a house and €2,260/m2 for an apartment.
Prices along the Brittany coastline in general have also increased (+5.6% in two years). According to MeilleursAgents, “prices have fallen sharply in the last ten years, and purchasing power for French people in search of second homes has considerably increased in this zone.” Camaret-sur-Mer is the most affordable at €1,540/m2 for a house and €2,080/m2 for an apartment.
On the Normandy coast, prices have increased by 5.3% in two years. The most affordable cities are Le Tréport, at €1,370/m2 for a house, and Ault, at €1,598/m2 for an apartment. Further east, in Deauville, prices are the highest. An apartment is worth on average €4,780/m2 and a house runs at about €4,280/m2. However, it is on the other side of the Cotentin Peninsula, in Granville on the English Channel, where prices have increased the most in one year (+ 5.1%).
On the Mediterranean coast (+5.8% in two years) price differences are the widest. Toulon is the most affordable at €2,350/m2 for an apartment and €3,000/m2 for a house, while Saint-Jean Cap-Ferrat, a Russian favorite for vacation home investing, boasts €13,900/m2 on average for a house and €10,000/m2 for an apartment. The town of Ramatuelle, however, has recorded the highest average price jump of the region (5.1% in one year).
Sources: L’Obs – Les Plages en Feu
Photo: Kamel15, Wikimedia Commons