AU COURANT
Keeping you up to date with the French property market, news, travel and events
CÔTE D’AZUR: THE WORLD’S TOP SECOND HOME LOCATION
The French Riviera is popular with buyers from all the world
OR IS GRAND
OUEST THE BEST? While the Côte d’Azur is undoubtedly appealing, you need deep pockets to aff ord a substantial property there (average prices in Alpes- Martimes are €4,790/m2
). For
more aff ordable homes, you might want to head west to the Grand Ouest: Normandy, Brittany and Pays de la Loire. Prices here are €2,090/ in Brittany, €1,880/m2
m2 in Normandy and €2,120/m2 in
Pays de la Loire, according to a recent market report from Leggett Immobilier, meaning that for the price of a tiny studio fl at in Paris, you can buy a holiday home with garden and pool in the Grand Ouest. Furthermore, the area
T
he Côte d’Azur has topped Savills’s World Second Home Locations Index 2023
(part of its Prime Residential Index), which analysed 60 global locations. The French Riviera hotspot attracts global buyers with its top-tier property, extensive high-end dining and retail off erings, hospitality and leisure infrastructure, natural setting, transport links and climate.
On the market
“The French Riviera has it all: weather, leisure, sports, food, entertainment, easy access, great infrastructure,” says Alex Balkin, Executive Director of Savills French Riviera. The region’s perceived safe-
haven status is further boosted by the idea of an investment in property for personal enjoyment, with average prices of prime property reaching almost €23,000/m2
across the region. Buyers in recent
years are younger and more inclined to favour areas with easy access, near motorways or an international airport and centres of entertainment. The Index looked at coastal
resorts the world over, as well as top-tier skiing and rural country escapes. In second place was Monaco, followed by Aspen, Tuscany, Mallorca, St-Moritz, the Cotswolds, Costa Brava, Palm Beach and Costa Smerelda, all in the top 10.
FIND MORE COTE D’AZUR PROPERTIES ON
FRANCEPROPERTYSHOP.COM &
FRENCHENTREE.COM
is being cited as the ‘cool choice’ for those wanting to escape the heat of the south. “Property here is seen as a traditional asset and a safe haven,” says Lisa Greene, Leggett’s Regional Coordinator. “This perception is only going to increase as the climate change discussions become central to people’s choice of home destination. The Grand Ouest has a temperate climate and is seen as the ideal escape from the searing heat, fi res and fl oods experienced in the southern Mediterranean.” She adds that following
€399,000, Cannes: Near the beaches and the Palais des Festivals, a two-bedroom apartment with balcony and cellar in an 1880s building
€479,000, Antibes: Top-fl oor two-bedroom apartment with sea view, in a sought-aſt er residence with a swimming pool in the Plage Salis area
€945,000, Nice: In a prestigious Mont Boron residence with caretaker and large pool, two-bedroom apartment with magnifi cent sea view
the sudden move to the countryside following Covid, “It seems that we are back in a comfortable rhythm which suits the Grand Ouest market well. People buy here for the quality of life and value for money. These factors never go away, and they are top of peoples’ priority list right now. “Property prices in this area
allow them to turn dreams into reality.”
4 FRENCH PROPERTY NEWS: November/December 2023 11
©SHUTTERSTOCK
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