Supply is high, but conditions are improving. France’s enhanced international standing, together with demand for euro-denominated assets, is fuelling interest in the region’s real estate. The Mediterranean climate, vibrant towns, beautiful coastline and world-class events attract visitors from across the globe and create a spectacular setting for property. This underpins rental markets as well as creating demand for second homes and means the Côte d’Azur is likely to remain a desirable destination.
The Côte d’Azur market is now adjusting to buyer demand, and it will continue to remain a desirable destination
The Côte d’Azur is part of an international network of second-home hotspots. Because demand comes from a global marketplace, its prime residential markets have more in common with other top-tier global city markets than the rest of France.
Like the markets in many world cities, prime prices in the Côte d’Azur are now on a high plateau. Prices reached this plateau earlier than many other prime world markets and have seen fluctuations since. After a few years of low transactions, the market is now adjusting to changing buyer demands, a new tax environment and growing global competition.
Summary
■ The Macron government has brought stability and improved international standing, but no reprieve on property tax.
■ High levels of prime stock mean a buyer’s market. Discounts on asking prices range between 10% and 30%.
■ Buyer profiles are evolving with younger, wealthy buyers on the rise. They demand best in class and split their leisure time between multiple destinations in the Mediterranean.
■ New build apartments with a high level of services are meeting the demand for high quality and low maintenance.
■ Saint-Tropez is one of the most active submarkets. Buyers are attracted to properties on spacious plots and in town with easy access to amenities.
