From a real estate point of view, the Côte d’Azur is a safe haven. The area between Cannes and Monaco is indeed spared by economic instability. It is also a territory where security and climate are undeniable assets for investors. Many foreigners are interested in Côte d’Azur properties, but they are not the only ones.
Luxury apartment and villa on the French Riviera
The Côte d’Azur being a prestigious territory, the properties on offer meet high standards. Nothing is left to chance when it comes to luxury real estate. Villas and apartments thus rival each other in sophistication. Luxury is measured by the choice of materials and design, but not only. Prestige is also associated with the very location of these properties. Neighbourhoods are carefully selected to provide a high-end environment for buyers. The view, for example, is a decisive selection criterion. The proposed activities in the surrounding area also influence the decision of the potential buyer.
Many foreigners are interested in the exceptional properties on the French Riviera. This is without forgetting the young French working people who want to build up a profitable portfolio. Executives, company directors and self-employed professionals are among the best customers on the market. They are looking for both their main residences and a pied-à-terre that will allow them to stay comfortably in PACA for weekends or holidays.
In view of growing demand, supply is constantly expanding. Luxury real estate on the Côte d’Azur includes apartments for one or two people as well as huge properties that can accommodate a large family.
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A favourable environment
Foreign investors do not hide their interest in the Côte d’Azur. The area around the Promenade des Anglais regularly welcomes new Turkish and Scandinavian immigrants. Many French people living in the north of the country are also looking for properties on the French Riviera. The Mediterranean atmosphere and the quality of the properties offer them the opportunity to escape from their hectic daily life. As a result, prices tend to rise, automatically restoring value to the market.
In addition to climatic conditions, buyers are interested in practical aspects. Nice-Côte d’Azur airport plays a key role in the development of the market. Air connections are not exclusively in France. Indeed, nearly 40 countries are served by scheduled flights: Germany, Belarus, Ukraine, Canada, Turkey, Lebanon and Morocco are included in the list. In parallel, line 2 of the tramway that crosses Nice from east to west over a distance of 11.3 km is a major project that is a favourable argument for luxury real estate. This project, which was developed by 2019, would make it possible to reach the port of Nice from the airport (and vice versa) in less than 30 minutes.
The cultural situation is not to be outdone. On the Côte d’Azur, gastronomic, sporting and musical events are organised throughout the year. They make everyday life more attractive as boredom completely deserts the region. This dynamism contrasts skillfully with the tranquility provided by prestigious properties.
Tax provisions also work in favour of the luxury real estate market. The terms of the IFI (wealth tax), which replaces the ISF (wealth solidarity tax), are becoming more flexible. As a result, buyers are less reluctant to invest in high-end villas and apartments.
Clearly, the Côte d’Azur remains a sure bet for prestigious real estate.
