French Riviera Real Estate Market

Posted On Wednesday, 16 September 2020 21:22

Located in South-east France, the French Riviera (Cote D' Azur) is inhabited by the affluent and famous. The Riviera entails unmatched beautiful weather, designer shops, nightclubs, and sandy beaches that host global events such as Monaco Grand Prix and the Cannes Festival. Possessing property on the French Riviera demonstrates success, and it's a prudent investment.

Real Estate Market Up to 2019

Between 2015 and 2016, real estate was stagnant in the whole of France—this was due to the presidential elections and political instability. When elections were held in 2017, there was a predicted 4 percent drop in real estate demand.

In 2019, the prices of both primary and secondary housing rose from 1.2 percent to 2 percent. On the Cote D' Azur, sales went up by 10.5 percent during the first quarter, compared to 2018's first quarter.

Between 2014 and 2018, real estate sales bought by foreign folks increased to 22 percent. The demand for property in the French Riviera is still growing.

Who Is Purchasing Real Estate in The Riviera

Buyers from the Middle East, Germany, Italy, Swiss, and Britain have shown increasing interest in the real estate on french Riviera  in the past years. However, there's an increasing demand from Chinese and Asian investors, and property agents admit there are more Russian sellers of Cote D'Azur property than purchasers.

When to purchase French Riviera Property

A good time to invest in real estate is during mid-autumn(October-November). During March, tourist season commences, villas and luxury apartments not for sale are rented. This circumstance spreads over the whole Mediterranean coast.

Nice, Suitable for Rental Ventures

 In Nice, older real estates increased by 1.7 percent within the past twelve months based on the LPI-SeLoger barometer. This increase is due to its dynamic rental market, giving yields of an average of 4.8 percent.

With 4,228 Euros per meter square, real estate for sale in nice is one of France's most costly industries. In Carre d'Or district that attracts high-end clientele and popular with foreign purchasers and tourists, prices are at 6,525 Euros per meter square. Real estate in Old Nice and Mont-Boron were at 10,000 Euros per meter square.

Investing in the 2,500 homes near the Nice Meridia can be a wise choice.

Financing for French Riviera Real Estate

Although every business sector is suffering from the novel coronavirus's effects, luxury property is still thriving among the high-end clientele. Luxury homes' funding options include property financing, equity release, bridging loads, and development loans. Those seeking finances for French Riviera real estate are looking for the lowest AUM amounts, highest ratios of LTV, and rates of market lending.

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