The French Riviera Property Investment Guide
The glossy coastline of southern France is a tried and tested investment destination that has found favour with property buyers from all over Europe. This sought-after real estate location comes with the prices to match its elite reputation, making it well suited to investors at the upper end of the budget scale. This guide takes a closer look at the property investment environment in the French Riviera.
Why buy on the Côte d’Azur?
The high-end appeal of the French Riviera makes it an excellent choice for investors. While the price of getting on the property ladder in this area may be steeper than elsewhere in France, premium areas do tend to be more resistant to a loss in value during uncertain times and are often able to weather economic storms far better than their less well-heeled counterparts. The coastline is renowned for its beaches, clement weather, and vibrant social scene, creating a strong and enduring draw for tourists, which translates into a ready market for investors looking to make a rental income from their properties.
The Riviera property market
The Riviera property market differs somewhat from many parts of France in that it has a particularly high concentration of overseas investors looking to secure their money in bricks and mortar. New building along the coastline is highly regulated, which boosts competition for existing properties in key locations. After a period of less buoyant sales, activity began to pick up along the Riviera in 2014 and saw a real boom in 2015 with enquiries into luxury properties soaring. On a promising note for those looking to buy, this renewed dynamism has not yet caused an increase in property prices, so there’s still time to invest in your holiday home before they start to pick up.
Property prices on the French Riviera
Property on the Côte d’Azur is not only some of the most expensive in France, it’s also one of the most expensive markets in Europe, a place where high initial costs can lead to very high returns. While still costly, prices across the region have actually been dropping gradually over the last few years, after a post 2008 resurgence that saw them reach an all-time high in 2011. Along the coastline, the luxury resorts of Cannes and Antibes top the list at an average of 5,381 € per m2 and 4,398 € per m2 respectively for apartment spaces, compared with a 2015 national average of 2,481 € per m2 across all types of property. Nice (3,736 € per m2) and Cagnes-sur-Mer (3 861 € per m2) are a little less expensive, but still reflect the fact that the French Riviera is a desirable location both as a holiday destination and as an investment prospect.
Where to invest on the French Riviera
By its very nature, a French Riviera location is likely to entail certain advantages that will appeal to many investors; the upscale resorts, high concentration of beaches, and vibrant cultural scene make this a popular destination. As with anywhere in the world, the closer your property is to these hotspots, the more likely it is to be at the pricier end of the scale. Those with less flexible budgets might choose properties slightly outside of the main hubs to make their money go further. On the other hand, buyers who are able to lay down a little extra capital may well reap the rewards in terms of increased rental premiums and resale prices when the time comes. There’s no doubt that this southern coastline remains an elite market, but there is always flexibility within the region to enable investors to choose wherever is best for their own personal portfolio and plans.
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