Savills

The Savills Blog

Coffee with... Alex Balkin - 2022 Market Expecations for Real Estate in the French Riviera

With the aim of getting to know the team of Savills French Riviera and Alps a little better, we welcome you to "The Coffee with…" blog series. Kick starting the interviews is Alex Balkin, Executive Director of Savills French Riviera. 

 

It is all too easy to see property as just bricks and mortar when in fact it is a people focused business. The experience, insight and local knowledge of your agent plays a big role in the property sale and or purchase.

With the aim of getting to know the team of Savills French Riviera and Alps a little better we welcome you to The "Coffee with…" blog series. Kick starting the interviews is Alex Balkin, Executive Director of Savills French Riviera.

Listen to the full Riviera Radio interview.

Alex Balkin, Executive Director of Savills French Riviera

Born and raised in Denmark, speaking multiple languages and having worked and travelled widely Alex brings with him a truly global perspective, something which is invaluable in his role. Having worked with Savills for over 20 years, Alex has a wealth of experience across all sectors of the market and Riviera – a location he continues to be inspired by.

You have a varied career, what first attracted you to property and why the French Riviera?

Working at a law firm assisting foreign clients with their French property undertakings really triggered a passion for real estate. Real estate is a high involvement issue, and for many the fulfillment of a dream. It is singularly gratifying to assist with making a dream come true. 

With such a wealth of experience could you think of a word to sum up your thoughts for the real estate Market in 2022?

For me is would have to be two words…Positively challenging. And it is important they are in that order! I believe that 2022 will be a year of great optimism and change in the real estate industry and wider, with everything from travel reopening, new trends at play and more modern digital marketing and technology. The team at Savills French Riviera and I are looking forward to meeting all the challenges in order to best serve our clients.

What would you outline as the current market dynamics at play and what factors are influencing people across the French Riviera property market?

We do have presently a market with a limited supply, coupled with a surge in demand which makes for a very tense market across all segments, and which more than ever, makes it obvious that professional property advice is key to finding the right property and identifying qualified buyers. A global network, deep local insight, experience and expertise based in facts, figures and strong local relationships are key elements that we offer our clients.

Image treatment

Undoubtedly the world has been changed by the pandemic. With travel restrictions now easing, what do you imagine in terms of international buyer activity in the year ahead?

We are all longing for things to reach a new normal, and to some extent to reward ourselves after the last two harrowing years and so, we expect a very strong turnout, especially from buyers who have been honing their property plans whilst waiting for restrictions to ease. Also interest rates remain historically low, so stars are aligned for buyers and sellers alike.

Many people have been reviewing their future property goals, from renewing their search for a holiday villa to a making a more permanent move. There was a rush prior to Brexit, but can people from the UK still relocate to France?

Absolutely. The French Riviera is a diverse market with property types and prices to suit all criteria’s. Following Brexit the buying process remains unchanged and you can read our guide to purchasing a property in France. However the criteria for entering and staying in the country have changed depending on your length of stay so I strongly suggest researching your move, outlining you key criteria and taking independent advise before setting your heart on your ideal home. Read more on this topic in our dedicated blog

Image treatment

With everything from luxury villas, countryside homes and chic city penthouses on offer across the Riviera, what trends do you expect to see in 2022?

In 2021 we completed a survey on buyer requirements. This picked out the key trends of outdoor space, views, greater flexibility to work from home and a rise in searches for facilities like home gyms, yoga space, swimming pools and outdoor rooms for entertaining or work. We expect to see those trends to continue in addition to strong preferences for properties in mint condition with no work required, but because of a limited supply, I imagine expectations will be adjusted to accept some renovation works.

Last but not least, you must be a font of knowledge on the Côte d'Azur. Can you tell us your favourite thing to do on the French Riviera?

There is no one favourite pastime. There are so many! Biking along the seafront, having lunch on the beach, stand-up paddle boarding from Nice to Villefranche-Sur-Mer, skiing for a day in the sun... take your pick.

 

Recommended articles