The holiday home is back
According to holiday rental company HomeAway, only a few hundred Brits bought an overseas home in 2009 - a drop of 80% on the previous year. So what did this select group buy? Not an investment, not a buy-to-let cash cow nor an off-plan contract they hoped to flip. The answer is they bought a holiday home – relief, normal service has been resumed.
Su Bishop from developers Arena Park France, specialists in Burgundy, comments, “2009 was certainly a turning-point year for Arena Park France. As the purpose-built identikit resorts spread across once virgin coastlines fell from favour, there was a marked return to a real home in a real village surrounded by real native neighbours. Today our clients tend to be better off, do not necessarily need mortgages and relish the fact that they don’t need Google Earth to point out where their holiday home is.”
It follows that France is one nation that has been tipped for huge success by HomeAway. Their survey ranks the nation in its top three ‘classic’ European destinations for its “excellent residential stock, great infrastructure and ease of access, as well as having trusted legal systems”. The country has no strange currencies, customs or conversation but is instead trusted, short-haul and reassuringly familiar. Brits buying overseas now look for sunshine and quality of life – a true back to basics.
It would seem that the off-plan buying hysteria that momentarily made a fortunate few very wealthy is a long way off making a comeback, and indeed may never happen again. A new global economic order means that people are not so quick to be brave having been bitten by Bulgaria and deluded in Dubai. Clients now choose a second home because they both want it and can afford it. Even the cloudiest financial skies have their silver lining.
The comprehensive survey looked at 1,200 Brit-owned holiday homes across all five continents and estimated that they owned 430,000 foreign homes of which 25% were in France (a further 25% in Spain and 25% elsewhere in Europe).
On the market - Large Village Homes in Meursault
At the heart of this famous wine village, these homes are in original stone buildings dating back to 1820. A two minute stroll from shops, restaurants and the bustling Friday market and just 8km from Beaune, the properties also have superb views across the vineyards. Complete refurbishment from roof to foundations will return the property to its original configuration with ‘The Townhouse’ facing the quiet lane accessing the vineyards and the ‘Courtyard House’ orientated towards the private courtyard with direct views onto neighbouring vines. Each of the two homes will have three en-suite bedrooms and open-plan living spaces with plenty of terraces. Wine cellars and off-street parking complete the package.
Clients can participate in selecting final finishings including flooring, tiling and the kitchen.
Price 495,000 euros to 520,000 euros (excl. kitchen)
For more information, visit arena-park.com.
