Cote d’Azur Property Market Update

In early spring of 2015, it has been clear that the housing market is returning to brighter colors on the French Riviera.  Bank rates are still historically low along with corrections in housing prices that began in 2013 thus giving property offers a healthy coherency. For local buyers as well as buyers from other regions of France, active or retired, this is a bargain: low rates and rational prices helped revive acquisition projects put on hold during the second half of 2014. The key here is a renewed optimism and the time of sale, for properties valued at the right price, which rose from 6/8 months to a 3/4 month average.

Have foreign buyers come back?

In parallel, the appreciation of the pound against the euro has allowed the gradual return of English buyers who were relatively absent since the financial crisis of 2008. Big fans of the Cote d’Azur, our British neighbors have gotten back on the property route to our delight. The British are also not the only ones: Scandinavia, Germany, Belgium, Italy and Russian-speaking countries where foreign buyers seem to have regained morale giving the local real estate industry an additional push.

What types of properties are they buying

The types of property sought out by this clientele is quite varied. For apartments, they tend to favor studios, 1 or 2  bedroom apartments in the city center (mixed use pied-à-terre / Seasonal rental), or large apartments on a high floor, penthouse or rooftop apartments that offer beautiful exteriors and parking. When one moves away from the center, foreign buyers tend to look for a superb sea view, or a residence of very good standing with a swimming pool. As for homes, their preference is usually geared towards beautiful modern villas with pool and sea view for its functional aspect, Belle Epoque and Art Deco for their historical and architectural character, and finally the true Provencal stone bastides (countryside homes) for their charm and atmosphere.

The Cote d’Azur : A sure value?

The Cote d’Azur is heavenly and Nice, the capital, is without a doubt one of the most beautiful cities in France. Whether you are moving to live here or invest in second vacation home , you are choosing a unique quality of life, between sea and mountain, with Provence, Italy and Corsica in less than an hour away. For over 10 years now, Nice Properties agents have helped nearly 2,000 buyers to live that dream by advising and accompanying them, to ensure that their real estate projects do not remain a project, but instead a reality.