Côte d'Émeraude: Why Property Prices Remain Strong Despite the National Market Slowdown
The French property market has undergone a significant correction since 2023: rising interest rates, reduced borrowing power, and a decline in transactions. Yet on the Côte d'Émeraude — and particularly in Saint-Malo and Dinard — prices are holding firm. Why does this area buck the national trend? Cabinet Moraine, a locally established estate agency, shares its analysis.
Limited Supply Against Structurally Strong Demand
The Côte d'Émeraude is a geographically constrained area: hemmed in by the sea, estuaries and protected zones, buildable land is scarce. This structural scarcity prevents an abundant supply from weighing on prices, even during a market slowdown.
In both Saint-Malo and Dinard, the majority of transactions involve period properties in town centres or seafront locations — unique products that are, by definition, irreplaceable.
The Appeal of Second Homes and Remote Working
The Côte d'Émeraude benefits from sustained demand from major cities — Paris, Rennes, Nantes — driven by two lasting trends:
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Second homes: Saint-Malo and Dinard rank among the most sought-after destinations in western France for second home purchases. This buyer profile, less reliant on mortgage financing, absorbs a significant share of the market.
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Remote working: since 2020, a growing number of city-based professionals have chosen to relocate permanently to the Breton coastline, converting their second home into a primary residence or simply prioritising a coastal lifestyle.
A Prestige Market That Plays by Its Own Rules
Dinard in particular occupies a category of its own: Belle Époque villas, seafront properties, malouinières — these exceptional homes attract a national and international clientele that is largely insensitive to interest rate fluctuations. The prestige segment acts as a natural stabiliser for average prices across the entire area.
Through its Belles Demeures collection, Cabinet Moraine assists this discerning clientele in the acquisition and sale of exceptional properties on the Côte d'Émeraude.
A Dynamic Local Economy
Saint-Malo is far more than a tourist destination. The city benefits from a solid economic base — a commercial port, industry, tourism and higher education — generating stable residential demand from local buyers, independent of second home market fluctuations.
This dual demand — local and from outside the region — creates a particularly resilient foundation against national property market cycles.
Falling Rates Reigniting Buyer Activity
Following the peak of 2023-2024, mortgage rates are gradually easing in 2026. This improvement is bringing previously paused projects back to life and rekindling demand among credit-financed buyers — without triggering any price reduction in a market already under supply pressure.
What This Means for Your Project
Whether you are looking to buy a primary or secondary residence, invest in a rental property, or sell in the best possible conditions, the Côte d'Émeraude market remains a strong environment in 2026.
Cabinet Moraine supports you with an in-depth knowledge of the local market in Saint-Malo, Dinard and across the Côte d'Émeraude.
Would you like to value your property or explore our available listings?
Contact our advisors for a no-obligation appointment.