Caution but high hopes in Brittany
After a year in 2017 where transaction volumes in Brittany reached record levels, the regional property market in 2018 has settled into a more ‘normal rhythm’.
Buyers are still able to benefit from excellent finance and have no hesitation in chasing properties that fit their criteria, especially with regard to daily transport needs which drive up prices in larger towns.
Across the region, prices are rising slightly or are stable with a rise of 4.1% in older flats in a year to reach a mid-market price of €2,220/m2 while new flats are slightly down, at -0.4% or €3,670/m2. Older houses are up 1.8% with the median price €168,000 and building land is also up, at 3.8% for a mid-market price of €104/m2.
For the near future, changing government policies on state aid such as the Pinel tax reduction and 0%-interest loans mean some caution is needed but have already had the effect of making people re-target their savings.
Several signs show that the market in 2018 should be on a good foundation as Bretons are keen to own their own homes, economic indicators such as mortgage rates, jobs and growth are bright and the region is still as attractive to live as ever.
