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The value of furnished tourist accommodation collapses

2021-10-15T17:15:25.575Z

DECRYPTION - Homeowners have seen the value of their property plummet. Explanations.



This is double the penalty for apartment owners in tourist residences.

Deprived of rents for months, for lack of tourists, they are now seeing the value of their housing plummet with the crisis.

These apartments are currently selling for up to 30% or even 40% below their purchase price.

These homes were acquired with a promise of guaranteed rents, but the pandemic has undermined the model.

This guarantee is only valid if the operator stands up.

However, some groups have completely faltered with the health crisis.

This is the case for Pierre & Vacances or Réside Étude, which no longer pay their rents since the end of 2020, and have entered into the conciliation procedure.

In the mountains, where there are nearly 50,000 managed apartments, the situation is particularly delicate, after an almost white winter season, for lack of ski lifts.

Read also

Tourist residences: 120,000 investors cheated because of the Covid

In this context, some owners, taken by the throat by a loan, or themselves affected by the crisis, are forced to sell.

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Source: lefigaro

All business articles on 2021-10-15

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