coastal erosion does not scare the French who still dream of having a house with a view of the sea

One might think that it is difficult to sell a house that could one day collapse with the cliff or suffer the onslaught of the waves. Not at all if we are to believe the thesis developed by Eugénie Cazaux, Doctor of Geography at the University of Brest.

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She gave herself a task that was tedious to say the least. She went through the real estate and land databases of 3,000 coastal municipalities. The equivalent of two million transactions carried out between 2010 and 2016 which she compared to the mapping of coastal risks and verdict: real estate prices remain high despite natural hazards.

No discount, therefore, on these properties which remain highly sought after. However, scientists regularly warn of the risks associated with the retreat of the coastline. As a reminder, 20% of French shores are affected. Latest example in Fécamp, in Normandy: a section of cliff collapsed 40 meters long and 15 meters deep, in mid-February. Access to several houses had to be prohibited.

The “sea views” remain relevant

The French still have this desire for the shore and the geographer. And it is distinguished by three buyer profiles: the investor who will make his property profitable in a few years thanks to tourist rental, retirees who want to take advantage of the spray and according to whom the effects of climate change will be felt when they are no longer there. And then there is the “coup de coeur” purchase of wealthy people.

However, the legislation has been changing since last month. Sellers have the obligation to indicate in their advertisements if the house is in an area at risk of erosion. This information must be recalled from the first visit and not only during the sales agreement as was the case a few months ago.

The climate and resilience law also introduced a specific right of first refusal to allow municipalities to buy back property threatened by the retreat of the coastline. What may bring down real estate prices in risk areas.