Whether looking for a summer holiday villa rental or a property to
buy, the number one request we get from clients is they want to be close
to the sea.
Realistically, that wish does come with a price, as
the allure of the Cote d’Azur for decades continues to hold strong in
terms of sales which can also trickle down when it comes to supply and
demand with villa rentals, seemingly no matter the economic situation
globally.
According to a recent study by the National Federation of Real Estate
(FNAIM), the three priciest places to buy property in France are
situated along the French Riviera. Coastal resort towns tend to command
higher prices than other areas, fueled by strong post-COVID demand and
the exceptional quality of housing stock, especially in the South.
In 2024, the top three most expensive cities in France are all
charming seaside destinations on the Côte d’Azur: Ramatuelle, with an
average price of €16,083 per m²; Saint-Jean-Cap-Ferrat, at €15,819 per
m²; and Saint-Tropez, at €14,400 per m². FNAIM’s July report showcases
these cities as the most sought-after and valuable locations.
In
the broader Top 20 list, Var’s Gassin ranks 12th, with Eze and
Villefranche-sur-Mer in the Alpes-Maritimes coming in at 14th.
Interestingly, Paris ranks only 15th by average property prices,
although prestigious areas like Quai des Orfèvres and Avenue Montaigne
still break records, exceeding €20,000 per m².
Outside of Paris, Nice stands as the second most expensive city in
France, with prices gradually rising by 1% over the past year. A Seloger
study reveals that, for a two-person household, buying power has
declined: while they could afford 45m² in January 2022, this has
decreased to around 35m² today.
However, Nice’s real estate market
remains highly attractive. Prices have reached €5,207 per m², despite a
general cooling in the national market. This is supported by a nearly
4% increase in the number of prospective buyers compared to the previous
year, many of whom are second-time or first-time buyers from other
regions. Among France’s ten largest cities, Nice ranks just behind Paris
and ahead of Lyon in property value.
Property prices in resort towns across France are, on average, nearly
double those in other areas—€4,514 per m² compared to €2,933 per m².
Over the past decade, prices in these coastal regions have risen
significantly, with the 2020–2023 period seeing an especially strong
boost as demand for space and nature surged due to lockdowns.
The
Provence-Alpes-Côte d’Azur (PACA) region leads with the highest average
prices among seaside areas, with its 42 towns averaging €5,820 per m².
The region’s most affordable towns, all located in Var, include Fréjus,
Hyères, and Cogolin, where prices are around €4,500 per m². Between June
1, 2023, and June 1, 2024, PACA was the only region in France where
property prices saw a slight increase (+0.3%), while the sharpest
declines were noted in Nouvelle-Aquitaine (-6.3%) and Pays de la Loire
(-5.9%).
Transaction volume in French coastal towns remains robust, with
Cannes and Antibes leading, followed by Agde, Saint-Raphaël, and Fréjus.
Cagnes-sur-Mer ranks 9th, with Menton in 11th. Interestingly, Parisians
make up 15% of the buyers in these popular seaside destinations.
FNAIM
highlights the distinct features of the real estate market in France’s
resort towns. These towns typically have smaller permanent populations:
four out of five have fewer than 5,000 residents. They also boast a high
concentration of second homes, with nearly half (47%) being used as
such, compared to only 10% elsewhere in France. Notably, one-third of
all second homes in France are located in one of the 520 coastal resort
towns.
The study also reveals a higher proportion of retirees in these
towns—35%, compared to 22% in non-coastal areas. The average age of
buyers in resort towns is 54.7 years, almost ten years older than in
other parts of the country, where the average is 45.8. Additionally, the
share of foreign buyers in resort towns is slightly lower than the
national average, at 6.1% compared to 8.1%. However, a larger proportion
of these foreign buyers are non-residents, making up 47% of foreign
buyers in resort towns versus 38% in the rest of mainland France.