The Demand for French Properties Still Strong

 

With markets around the world seemingly all over the map in regard to real estate values, a recent report by Sotheby’s International Realty has stated that although the second home market in France is currently plateauing, demand is still high in the French Riviera.

“The Covid period was exceptional for real estate in all of its markets,” says Sotheby’s International Realty France-Monaco Chairman and CEO Alexander Kraft, while noting strong growth in the second home market during that time.

This latter segment of the market is now reaching something of a plateau, says the report, a trend that is “probably as a result of the current economic crisis, difficulty in obtaining financing, rising interest rates and global political tensions”.

“This decline in activity is a normal phase of the market cycle after three record years,” explains Kraft, “and remains far less pronounced than among buyers of primary residences.”

Most of our clients at Experience The French Riviera tend to come from countries such as the UK, Dubai, the USA, and also Canada. And for many reasons, either they are seeking a safer country, currency exchange, or overall lifestyle change whether they are looking for a primary, secondary, or even retirement home.

Although France itself may be experiencing a slight slowdown, demand for villa rentals and secondary homes continues to stay strong.

Peter Illovsky, the president of Côte d’Azur Sotheby’s International Realty group that represents five agencies between Saint Tropez and Menton, has added his local knowledge to the report, explaining that “the Covid period brought strong activity characterized by a buying appetite focused on properties with outdoor space, sea views or proximity to the sea”.

Though not as hearty as during the health crisis, the market on the Côte d’Azur is playing to its natural strengths and, in many places, prices and demand continue to rise. Nice, for example, is seeing first and second-home prices on the rise, a trend that does not seem to be abating.

Nice, the capital of the French Riviera, featured prominently on a recent Sotheby’s list of locations to consider when buying a second home in the region, alongside Cannes, Saint Jean Cap Ferrat, Saint Tropez, and the other towns found in its gulf. 

We’ve noticed since last summer when the currency rate between the US and Europe went to par, we experienced a massive demand for secondary homes. And now prices are going up in Nice, around 10% over the past year, in Cannes they went up a similar 12%, but in Antibes, they went up 20%.

According to one of the local papers, Antibes are seen as "like Cannes but cheaper". The average budget for buying there is only €800,000 which is half the average €1.8m buyers in Cannes usually like to spend. This is attracting buyers that would have otherwise bought further up the coast.

The market for villas is also strong there, with Antibes having more on the market and an average price of €2.4M compared to Cannes average price of €3.8M. As a comparison, the Q1 this year an average house in France cost €407,000.

Taking into account the latest price increases, the price per square metre in Cannes is now €11,748, in Antibes €9,355, and in Nice €6,466.

We’ve always known the Cote d’Azur as being an international destination people want to travel to, and we’ve certainly met a lot of people who over the years, on their first visit then want to make the region part of their lifestyle, so we are not surprised to find out that demand is still strong here.

Pink Parade 2023

 

Coming in strong with the message, “Brisez les normes. Pas nos vies.” (Break the norms. Not our lives.)

It’s obvious this year, most certainly due to what has been seen throughout the global media networks, that the LGBTQIA+ community is reflective and concerned while taking a stand in how those of us are currently being treated around the world due to inequality and violence.

Although in the Cote d’Azur, forms of violence are fortunately sporadic it is important we stand together in solidarity with those not so lucky while continuing to push for equality.

This year, the Pink Parade (Pride) takes place on Sunday, July 9th.

The parade will start at 16h at the Port in Nice (Île de Beauté), and follow along the port and on to the Promenade des Anglais towards Le Negresco Hotel and end with a festive evening at the Théâtre de Verdure with a Pink Party from 18h to 23h.

Since the city of Nice is considered central to everything pertaining to the gay community, this tends to be where everyone in the region gathers as one for Pride, and here, instead of watching the parade from the sidelines, one can instead walk in the parade which is typically a fun and most memorable experience.

 

 

 

Photographer credit: Guillaume Eymard

Nice Jazz Festival 2023

 

This year, from July 18-21, the Nice Jazz Festival will once again feature a diverse array of spectacular artists both new and highly recognized from around the world at the Théâtre de Verdure and Place Masséna.

Not only will the schedule offer great jazz, but also contemporary and world music, so that there will be something to appeal to almost anyone’s musical tastes.

Headlining the festival and who most people are looking forward to seeing is the ultra-cool and legendary Sir Tom Jones, including other such talents as Herbie Hancock, Grammy winner Diana Reeve, Juliette Armanet, and bassist Dave Holland, among many others.

The Nice Jazz Festival dates back to 1948 and is regarded as the world’s first-ever dedicated jazz festival. That first year, the event was broadcast live on French radio and featured the incomparable Louis Armstrong as the top-billed act.

Tickets start at €40, with two-day passes going for €75 but get your tickets fast as the concerts tend to book out quickly.

French Riviera Real Estate Options Eleven

Summer lovin’ and this month it’s all about stone properties in the Cote d’Azur.

Stone has been a longstanding material used for decades in the region not only for its look but also for being a natural insulator in the winter and also for being able to keep a more temperament home during the sunny summer months.

With that, we have a selection of three properties that have caught our eye, each with its own distinctive look and location.

Roquefort-les-Pins
1,750,000 EUR

Area: 257m²
12 room(s)
6 bedroom(s)

Land: 2771m²

Charming Stone Mas located in a quiet area, yet only a short walking distance to the village of Roquefort Les Pins.

The villa, which has kept its original qualities, offers around 257 sqm of living space and is composed as follows: On the ground floor: hallway, giving access to the master bedroom with en-suite bathroom, dressing, and laundry room.

On the top level: 5 bedrooms, 2 shower rooms, library room/office. On the garden level: dining room and living room with direct access to the garden, kitchen with back kitchen, and office.

Provencal gardens of 2,771 sqm situated east- south facing, outdoor dining terraces, swimming pool, pool house.

Possible to renovate a stone annex into an apartment, and a room in the house can be converted into a studio. Well worth the visit to appreciate the tradition and volumes of this mas.

Villeneuve Loubet
2,550,000 EUR

A unique and charming villa on the market with access to the beach and sea.

Area: 141m²
5 room(s)
4 bedroom(s) 

 

This stone-built home is a fully air-conditioned and recently renovated villa complete with luxurious home comforts and is located in a safe and tranquil neighborhood close to Marina Baie des Anges. 

 

The villa is only 15 minutes from Nice Côte d'Azur airport. There are 4 bedrooms with their own bathrooms, large terraces, and a breathtaking sea view. 

 

The ground floor includes an entrance hall with exposed stone, a large living room with an open-plan kitchen and living room, and three bedrooms with their own shower room and toilet. 

 

A beautiful designer staircase provides access to the upper and lower levels.

Upstairs, there is a magnificent terrace that offers a 180° sea view, as well as a master bedroom. In the air-conditioned basement, there is a cinema/playroom, a large cellar, and a laundry room. 

 

Sainte-Maxime
13,500,000 EUR

Exceptional historic property on the market with panoramic sea views.

Area: 800m²
12 room(s)
9 bedroom(s)
Land: 5.5ha

Nestled on the heights of Sainte Maxime in a green setting of more than 5 hectares overlooking the bay towards the village of Saint Tropez, this prestigious estate was the residence of the niece of the Empress of Russia in the 1920s.

Only a few minutes from the city center and the beaches, the main stone Bastide from 1921 covers nearly 550 m² and offers today's comfort and modernity with the nobility from the construction time.

The high ceilings and the wide openings onto the gardens combine interiors and exteriors with the greatest of refinement. A private heated swimming pool adorns the outdoor area to the west.

The guest house of the same standard from 1892 offers approximately 150 m² with 4 comfortable en-suite bedrooms, a large garage, and a central swimming pool linking the 2 buildings.

A little over 3 hectares of land are landscaped and fenced and the property has a private helipad facilitating unrestricted transfers.

 

For more information about these properties or any others, connect with us at Info@experiencethefrenchiviera.com