The French Riviera has been regarded as an iconic location. It is located in south of France and has a beautiful Mediterranean sea and plenty of days with sun. The city of Menton borders with Italy and Barcelona can be reached within six hours by car from Nice. Due to its position and history, the French Riviera has attracted many tourists. These include the first aristocrats from Russia, France, and Great Britain. The Cote d’Azur features some of the world’s most well-known and recognized cities, such as Saint-Tropez, Cannes, and Nice. These areas are known for attracting the rich and famous. They choose this region because they want the best of the best. And so can you.
The South of France offers some of the world’s most exclusive and expensive real estate. Although there are many luxury properties on the French Riviera, it also has more affordable properties. The most desirable areas in the French Riviera for buying real estate are those along the coast, such as Cap Ferrat and Nice. However, it is a choice if you want to purchase a property that doesn’t have a sea view. This property allows you to access the city and its various amenities easily. The price will also be more interesting, as having a sea view adds to the price.
Thinking about buying real estate in the French Riviera
There are plenty of beautiful French villas for sale on the French Riviera. However, there are also plenty of smaller and larger apartments. Regardless of your preferences, the French Riviera has plenty of properties for sale that are ideal for everyone. This is because this area has a wide variety of real estate. The general rule is that the closer you get to the seafront, the more expensive the property is.
Another fact is that being close to the sea means you will be close to either a road or a train. Does the ideal second home in the South of France exist? This article tells you the yes or no.
The French Riviera has a rich history. Many of this area’s prominent buildings and landmarks were constructed by wealthy aristocrats who used to stay there. Both older and newer houses characterize the real estate market on the French Riviera. Some are completely renovated, while others are built from the ground up.
No bargains on the Cote d’Azur
Finding a bargain while buying real estate in this area is very unlikely, as it differs from rural France. The Cote d’Azur is known for its fast-moving real estate market. If you want to make a great deal, you need to act quickly. Making an offer 25% or more below the asking price will insult. Property owners are generally never so desperate that they will sell for a lower price. It’s always more interesting to rent a property than to sell it for a meager price. This is also why there is never an actual recession in the Cote d’Azur. There is enough money to survive any crisis.
Retiring or working from home
If you’re planning on living on the French Riviera but don’t want to spend a lot of time in the tourist areas, several small villages have properties for a great price. Some of these include le Cannet, Biot, and La Colle-sur-Loup. These areas are also significant if you are thinking about working from home or retiring in the South of France.
The warm climate and land availability are reasons people retire to the French Riviera and buy their property. This also includes other French nationals who live in the inland areas. Generally speaking, the less you’ll pay if you live inland, but this doesn’t mean you won’t be able to enjoy the fantastic views and scenery the area offers. It’s impossible to determine the exact price of real estate in the French Riviera due to the varying prices that it can offer.
The average price of buying real estate on the French Riviera varies widely. For instance, it can range from around 150,000 for a studio to several million for an estate. Despite its varying prices, most people planning on purchasing real estate in the French Riviera usually spend around 300,000 euros for a one-bed apartment and a million for a villa with a pool.
Although you can find some real estate on the French Riviera that’s very affordable, most properties on the island are priced higher than in other areas in France. The high demand and limited real estate supply in the French Riviera can cause the prices of properties to rise. In 2022, pricing increased by 16% in the VAR and 12% in the Alpes Maritimes. Cannes itself had one of the highest price increases for second homes: 26%. Source the connexion. Living near a beach is always a favourite choice and comes with a price.
Demand and supply
History has shown that the demand for real estate has always been greater than the supply. This can lead to higher prices on the French Riviera due to the seller’s leverage. Many people in the French Riviera use the summer as a time to rent out their properties to cover the cost of local taxes. This can be around 3% to 6% of the property’s value.
The French Riviera has plenty of rental potentials, especially in areas such as La Croisette and the town of Cannes. Studio apartments in these areas are some of the most popular investment properties in the region. Also, the land that you can build on in the area is very limited. The Cote d’Azur real estate market is currently experiencing high appreciation, with claims of around 10% annually. The French Riviera is also very different from other regions’ cities as it doesn’t become a ghost town during the off-season. This is because most tourists visit the area outside of the summer season.
Buying real estate on the Cote d’Azur
Regarding real estate transactions, the legal process in France for buying real estate is incredibly safe. The process of buying in France is to protect the buyer from signing a contract spontaneously. This makes France one of the safest places in the world to buy property. A transfer tax is charged on the sale of real estate. This varies depending on the type of property you’re looking for and the property’s location. For new constructions, the sales tax is 2,5%, but the developer can sometimes offer it as a promotion. You will be paying 7,8% of the buying price for existing properties.
If you’re planning on taking out a loan or mortgage to purchase property in the French Riviera, contact us or read first these six steps to obtain a mortgage loan for your second home in France.
There are yearly taxes to pay when you buy a property in France. In this article, all taxes like tax fonciere and tax habitation are explained.
//
