Despite the rapid rise in prices, buying property in the region is still more profitable than in many other parts of France.
The situation. Brittany, a peninsular region in western France with impressive coastlines and ancient megaliths, is still popular with foreign buyers. But now there is also an influx of French investors from major cities, say local realtors. Therefore, it is not surprising that housing in the region has recently increased in price.
Prices. A July report of the Association of Notaries showed that the average price per square meter of old apartments in Rennes, the capital of Brittany, increased by 8.7% in the first quarter of 2021 compared to the same period the previous year, reaching € 3,360. The average sale price of old houses in Brest, the region’s second-largest city, rose 10.3% over the same period, to €204,000.
Quote. “The pandemic has further inflamed an already hot real estate market in Brittany,” said Lisa Green, regional coordinator of brokerage Leggett Immobilier. “Many French buyers wanted to move out of the cities and buy vacation homes in the countryside, plus international demand hasn’t diminished – we’ve sold many homes remotely, showing them only by video.”
According to realtors, despite rising prices, buying a home in Brittany is still a bargain compared to some parts of France, including the Côte d’Azur, Perche, Solonne and any other places within 60 miles of a major city. Plus, the region’s climate, quality of life, good universities, proximity to Paris, and ability to work remotely all speak in favor.
Prices. A four-bedroom house with a garden in Brittany costs from €150,000 to €350,000. Cottages with a panoramic view of the sea prices start from € 1 million.
Buyers. Brittany is sometimes called the “little Britain” of France, and although Brexit has exacerbated the situation, British home buyers still predominate among foreign investors. Other foreign buyers come from the Nordic countries, including Belgium, Holland and Germany, as well as the United States and Australia.