France and the UK: The border conundrum
Despite the confused messaging from Government over the UK/France border plans, there are signs that overseas buyers are getting ready to progress their second home plans in France once travel rules are relaxed
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Only ‘essential travel’ is currently permitted between the UK and France with arrivals in the UK having to either self isolate for 14 days or present a health certificate confirming they have tested negative for Covid-19.
However, hopes were raised on 10 May when the UK Prime Minister and the French President issued a joint statement announcing “No quarantine measures would apply to travellers coming from France at this stage; any measures on either side would be taken in a concerted and reciprocal manner.”
Fast forward five days and the sands shifted, with a Government spokesperson announcing that arrivals from France will not be exempt from quarantine rules.
Despite this setback, London and Paris are reported to be in discussions on a joint decision and Getlink, the operator of the Channel Tunnel, said it was taking a “steady stream” of bookings from July onwards, suggesting France could be a key focal point for UK holidaymakers not sold on the idea of a staycation, providing rental income for second home owners in France.
France has already announced plans to open its borders with Switzerland and Germany on 15 June and Easyjet announced this week it will resume flights between France and the UK from the same date. A look at the Easyjet website shows that all flights between London Gatwick and Charles-de-Gaulle Airport up until the end of June have now sold out. British Airways and Air France have continued to operate flights between France and the UK during lockdown, with Air France looking to increase its capacity from July onwards.
Despite the tentative moves by airlines to increase capacity and routes, our 30+ strong French network are already reporting that for northern Europeans, including UK buyers, the fact that France can be reached via road, rail and ferry is being cited as an appealing prospect amongst the purchase enquiries they’re receiving.
Estate agents in France reopened on 11 May and can now conduct viewings, plus notaries are back at work to ensure sales can exchange and complete. Citizens can now venture up to 100km (60 miles) from their homes, although beaches and parks are expected to remain closed until at least 1 June, with some bars and restaurants possibly opening the same week.
Despite the fact that the pound has weakened against the euro, which would allow UK homeowners in France to sell with a currency advantage, we have seen no distressed sales to date, as we did in 2008, no doubt boosted in part by record low interest rates in the UK and Eurozone.
Good to know
Paris is seeing heightened demand for peripheral areas such as Versailles and Saint-Germain-en-Laye, Neuilly-sur-Seine and Boulogne-Billancourt.
Our Provence team saw 20% more enquiries in the first four months of 2020 than during the same period in 2019 with buyers citing the space and accessibility of the region a key draw
The department of Var, which includes St Tropez and Saint-Maxime, has seen an increase in the number of enquiries from Swiss, German and Belgian buyers, many requesting virtual tours (and making subsequent offers) in anticipation of travel being possible in mid-June.
Elsewhere on the Cote d’Azur, buyer appetite is focused on villas in coastal and inland locations where there is useable outdoor space. Our rental partners have witnessed a similar trend, with some rental investors considering villas over typically higher-performing apartments.
In South West France improved connectivity has meant that we have seen an encouraging number of Asia-based expats looking for a holiday home in the Gers and Dordogne region. Lower values and larger plot sizes means most properties offer generous outdoor areas.
Our team in The Three Valleys report rental bookings for Winter 2020/21 are around 75% of where they were at this time last year, suggesting resilient demand for second homeowners in the Alps
For the latest announcements on when other countries plan to reopen their borders read our Global Residential Outlook