The British are rushing to buy in France before the full consequences of Brexit take effect.
It is known that more and more Britons are seeking to secure housing in France before the deadline when relocating Britons will no longer benefit from the privileges of EU citizens, reports a leading real estateagency. From the beginning of 2021, the UK will exit the single market and customs union of the EU, which means that newcomers to France will be treated the same as those arriving from any other country in the world.
Joanna Leggett, marketing manager at French estate agency Leggett Immobilier, said it had had a major impact on the market this year. She said: "Our sales to Brits at the start of the year were up 38% [year-on-year] through March, 85% of which were for permanent residences. Visits to our English website have increased by 87% and inquiries for properties are just out of control.
26 October
According to data from the French National Institute of Statistics and Economic Studies (Insee), it is known that there are at least 150,000 Britons in France, but this number seems to be growing. A study published by the Berlin Social Science Center showed that the number of Britons moving to EU countries is at a 10-year high, with a noticeable increase since the Brexit referendum in 2016.
Lidgett noted that she sees signs of this every day. "I think the excitement among the British is that they want to come here, find their property, and settle down to gain the residency rights that we currently have," she said.
Given the lifting of travel restrictions due to Covid-19 within the EU, she expects that the period from July to September will be extremely busy. "We said that it takes three to four months to finalize a sale, so if people want to move into their home, they need to make an offer by the end of September to complete the deal by December," she added.
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