What are the consequences of the COVID period on the state of the real estate market and on the credit situation in early 2021?
David PRETOT – At the start of the year, we observed a less demand from ou international clientele, who couldn’t travel to France because of global travel restrictions. However, we also noticed strong demand from our French clients, particularly in Chamonix last fall and in Megève this winter. All of our BARNES Mont-Blanc agencies are located less than 30km from a border, and are usually in great demand by international customers. Nevertheless, the mountain market is currently doing very well in 2021. The Annecy and French Genevois markets are overall dynamic markets. Real estate remains to date a safe haven for our clients, a safe investment opportunity.
Clément RAUSCHER – At Banque PALATINE, the main objectives regarding COVID "adaptation" and "agility". From the start, all our teams were organized to respond to the requests of our private clients who continued to approach us for investment or savings projects. Our teams were able to deal with all pre-crisis requests as well as new ones without interruption. From the advisors to back-office workers, all of our experts have adapted to provide our clients with a continuous service of excellence, by digitizing our processes as much as possible.
Is 2021 a good time to begin a real estate project?
David PRETOT – Any time is a good time to begin a real estate project! Early 2021 is particularly interesting in that regard, since the prices have not yet increased, despite the tension of the market, and the amount of demand, as well as a supply which tends to decrease. This high real estate value, coupled with a desire to improve the quality of life of some of our customers, make 2021 a favorable period for the start of a real estate project.
Clément RAUSCHER – Rates and loan conditions are favorable for borrowers at the start of the year, in line with 2020. The mortgage market is on an upward curve, demand is strong. Our clients remain on the lookout for real estate opportunities, most often willing to diversify their assets.
Have your services adapted to travel restrictions ?
Clément RAUSCHER – Banque PALATINE has adpated to enable our clients to carry out their projects, particularly real estate projects. The electronic signature is at the heart of the system of this new remote relationship with our customers. Within each of our agencies, our experts are on deck to support clients throughout their projects, whether it is an investment in a primary or secondary residence or a rental investment. Appointments are made remotely or physically if the sanitary measures allow it, in order to maintain a strong bond of trust between our teams and our customers.
David PRETOT - Being physically present is no longer essential to make a sale / transaction. COVID enabled us to properly revolutionize our activities, through the digitization of our tools: for homeowners willing to sell, we are able to estimate their properties by videoconference, remotely, and offer electronic signature of mandates, in order to facilitate processes. Our teams have the ability to go to the properties, so our customers can do everything remotely.
On the buyer side, we have set up many digital tools in order to support our clients as best as possible in their research: enhanced listings visibility on websites, social media and printed press, virtual tours of the properties, guided by one of our experts, or remote videoconference visits of the listings. However, we observe a real desire to make a final physical visit before acquiring a property, in order to validate the decision made during the acquisition.
To find out more about the credit conditions at Banque PALATINE : https://www.palatine.fr/
To discover all the properties available at BARNES Mont-Blanc : https://www.barnes-montblanc.com/en/