When it comes to secondary residences, France remains the European champion with a total of 3.3 million of them reported in 2015 all across the country. The great diversity of France’s geographical assets is probably one of the reasons for its attractiveness when buying second homes: between seas, mountains and countryside, the country is an ‘all-in-one’ that can please any holiday desires. Even if acquiring a secondary residence is often considered as an investment, it is primarily a pleasure-purchase. Indeed, most secondary homes, whether it is an apartment or a house, are dedicated to spend quality time with friends and family, in the most ideal setting. However, it is important to consider a few elements before signing for a secondary residence, in order to make sure that this investment will be a good asset.
Investing in a Holiday Home
French Riviera or the countryside ?
On the other hand, it is a different picture for country homes. Usually bought by city dwellers in need of more green spaces and nature, the evolution of their value depends on a variety of factors such as their proximity to a big city, their accessibility via public transports or simply their inherent quality. As an example, over the last ten years, some real estate properties in the countryside lost from 20 to 30% of their value, while others have remained at a similar price. As for properties near mountains, they represent a niche market and do not follow the overall trend.
Buying a secondary residence provides added value to inheritances
With interest rates still low and the high quality of life that comes with acquiring a property by the sea, in the mountains or in the countryside, investing in a secondary residence remains a wise project, both from an objective real estate point of view and the lifestyle that it represents.