Real estate: prices on the French coast have jumped by more than 20% in two years

This price increase is twice as high as at national level. Over the same period, the square meter in France has increased by only 10.9%, according to a study by Meilleurs Agents.

Houses and flats near the sea are victims of their own success. According to a study by the Meilleurs Agents platform, published in Les Echos on Thursday 7 July, property prices have risen by an average of 22.2% along the French coast over the past two years. This increase is twice as high as at national level. In fact, over the same period, the price per square metre in France rose by "only" 10.9%, says Meilleurs Agents.

"These very strong price evolutions contrast with what we see in the big cities, such as Paris, where prices have lost 2% over the last year, or cities such as Lyon or Bordeaux, where prices have stagnated," explains Barbara Castillo Rico, head of economic studies for the specialised site, to the daily newspaper.

Real estate boosted by telecommuting
Both supply and demand are driving up prices. "We have been observing a decrease in property sales offers in France for almost a year. But these prices are still being driven up by the really growing demand which has increased since 2020, following the pandemic", explains Barbara Castillo Rico. The introduction of teleworking in companies has encouraged the emergence of semi-main residences. Well-serviced communities close to the coast have attracted urban dwellers looking for more space.  

"Thanks to telecommuting, these households are looking for more pleasant living environments while not changing their main residence," explains the head of economic research at Meilleurs Agents. "Before Covid-19, Parisians preferred the Channel, which was closer. Today, there is a real craze for Brittany, but also for the Atlantic coast in its southern part, around Biarritz, particularly in the luxury property segment," concludes Barbara Castillo Rico in Les Echos.