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THE SURGE IN PROPERTY VALUES
Between 2019 and 2023, prime residential properties along the French Riviera have witnessed a remarkable increase in value, averaging between 15% and 20%. This surge is primarily fuelled by a significant return of international buyers, particularly from the USA, India, Nordic countries, and the Middle East. According to a February 2024 survey by our Beauchamp Estates French offices, this influx is rejuvenating the market, especially in the ultra-prime sector.
SPOTLIGHT ON ULTRA-PRIME LOCATIONS
Our February survey shines a spotlight on the crème de la crème of the Riviera — from St Tropez to St-Jean-Cap-Ferrat, covering iconic enclaves like Cannes, Mougins, and Cap d’Antibes. Here, ultra-prime properties are fetching impressive values, with oceanfront villas commanding prices higher than their London counterparts.
CAP FERRAT: THE CROWN JEWEL
Within this luxury landscape, Cap Ferrat stands out as the pinnacle of opulence. It’s not just a market; it’s a statement of unparalleled luxury, with homes ranging from €20 million to as high as €500 million. Interestingly, a considerable portion of these transactions occur off-market, underlining the exclusivity of this segment.
A Surge in Luxury Home Values
The International Buyer's Profile
Our February survey provides fascinating insights into the demographics driving this market. For homes priced over €10 million, around 70% of buyers are international, with a noticeable demand from younger Middle Eastern elites, alongside seasoned investors from the USA, India, and Nordic countries. These buyers are not just seeking luxury homes; they’re looking for lifestyle investments that offer access to the Riviera’s vibrant social scene — shopping, dining, nightlife, and beaches.
THE RIVIERA: A YEAR-ROUND HAVEN
The COVID-19 pandemic, while temporarily halting travel and reducing market stock, has inadvertently broadened the appeal of the French Riviera. The shift towards remote work has transformed these once seasonal vacation homes into year-round havens, blending work and leisure in the idyllic backdrop of the Côte d’Azur.
Beyond Seasonal Charm
Enhanced Local Presence for Elevated Service
In response to the burgeoning market and the post-pandemic return of international clientele, Beauchamp Estates (France) has strategically expanded its local presence. New offices in Mougins and St-Jean-Cap-Ferrat are set to provide even more responsive and personalised services, ensuring that clients can access the very best of the Riviera’s real estate offerings with unparalleled ease. Contact the team.
A Future Bright with Promise
As we move forward, the French Riviera’s real estate market is poised for even greater heights. The combination of a revived international interest and the evolving needs of a global elite seeking both luxury and lifestyle promises a vibrant future for this iconic destination. Whether it’s the allure of Cap Ferrat’s exclusivity or the broader appeal of the Riviera’s sun-drenched shores, one thing is clear: French Riviera luxury real estate remains at the forefront of the world’s luxury real estate markets, inviting investors and homebuyers to partake in its timeless charm and enduring value.
Comments recently featured in the Financial Times
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Homebuyers love the quiet charm of Cannes beyond the Croisette
