Europe | France
France
While the impressive price
growth of recent years has
tailed off, second home
ownership opportunities on
the French Riviera remain
attractive and continue to
generate high demand
The price growth of residential properties in France has Outside of Paris, Cannes, on the Côte d’Azur, has the
The glorious seaside
slowed. In the first three months of 2008, for instance, highest sale prices at almost €4,400/sqm. Closely behind
resort of Saint-Tropez
is its own micro
the prices fell on average by one per cent compared to are Antibes, Aix-en-Provence and Nice, which are
market, and continues
the previous quarter. A far cry from the seven years major second home and holiday destinations on France’s to attract buyers.
between 2000 and the end of 2007, when average stunning and ever-popular Mediterranean coast.
residential prices more than doubled from a base figure Among France’s major cities, the ancient city of Nice
of €1,300/sqm to €2,700/sqm. The price growth was has recorded the strongest average price increases at 15
strongest in 2003 and 2004 at 14 per cent and 15 per per cent per annum since 2001. Similarly, other principal
cent respectively. cities including Marseille, Grenoble, Perpignan and
It will come as no surprise to learn that Paris remains Toulouse, have all witnessed an average growth of 14
the most expensive city with sale prices on average per cent since 2001. While few cities have experienced
exceeding an impressive €6,000/sqm. It is followed negative price change leading into 2008, cosmopolitan
by other areas of the desirable Ile-de-France region, Marseille has seen prices reduce by 0.6 per cent.
including the prosperous, leafy Versailles and the
vibrant Boulogne Billancourt, where average values lie Second homes
between €4,500 – €5,500/sqm. Second home ownership levels have always been high
across France, particularly in the southern and western
regions, where second homes can comprise up to 15 per
“The French Riviera
cent of residential stock. This high demand is fuelled
by both international buyers and the domestic market,
remains one of the
owing largely to the high propensity for city-dwellers to
own second homes elsewhere in France.
The French Riviera remains one of the most popular
most popular
locations in Europe for second homes. The Riviera is
easily accessible from any major European city into Nice
locations in Europe
airport, it enjoys a good climate and offers excellent
restaurants, shopping, beaches and golf.
for second homes.”
The Riviera coastline to the east of Nice is home to
exclusive towns such as Beaulieu and Cap d’Ail with
10 savills global residential review
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