“Activity has been incredibly strong throughout the year-to-date period,” Kraft said. Foreign buyers, mainly from the United States, have started to re-enter the market, following a surge of domestic buyers during the pandemic. And he noted a second trend: Younger shoppers, whom he called dual-income couples in their 30s, 40s and 50s, are also diving in.
“I think that due to the pandemic, a lot of young people have realized that a second home doesn’t have to be their parents’ second home, which in France might be a big old house. which needs a lot of work and restoration, and it may be very fancy and grand but needs a lot of maintenance,” he said.
These young buyers want to improve their lives by moving or buying second homes with modern amenities and easy maintenance. They’re more interested in travel than investing in real estate, Kraft said: “I call this new wave of buyers the Airbnb generation.”
Coastal properties in most parts of the region start at 750,000 euros ($790,000), with luxury homes on the Ile de Ré from around 1.2 million euros ($1.26 million dollars), said Joanna Leggett, Marketing Director of Leggett International Real Estate. On neighboring Ile d’Oléron, as well as in the nearby coastal areas of Rochefort, Marennes and Saint-Palais-sur-Mer, apartments cost around 200,000 euros ($211,000) and single-family properties start at 450,000 euros. ($475,000).
“Those selling perhaps a million euro apartment in Paris could easily afford a nice house/villa or beachfront property in this neighborhood,” Ms Leggett wrote in an email.
Who buys in La Rochelle
Thanks to its mild climate and exclusive inventory, the La Rochelle region “is particularly popular with the French,” Ms Leggett said.