Gary Hersham, Managing Director and Founder of Beauchamp Estates, shares his views on the current top property investments locations
With an office already well established in Cannes, Gary’s 5th and final recommended location worthy of consideration for investment is…
Cote d’Azur: South of France
A large stretch of the southern coast of France, famed as a Region and for many of its individual towns: Saint Tropez, Saint Raphael, Theoule sur Mer, Cannes, Le Cannet, Antibes, Nice, Saint Jean Cap Ferrat, Ville franche sur Mer, all world famous locations.
Property prices in the Cote d’Azur have increased by 120 per cent in the last ten years, making it one of the most expensive regions of France.
The exceptional natural scenery, cuisine and the range and style of property available, both classic and contemporary, is part of its enduring appeal: habitués are starting to rediscover the reasons why they loved the region initially and new comers, including Chinese buyers, are on a journey of discovery.
The market has been relatively slow in recent years: despite the region being a perennial global favourite with the jet set, celebrities and the super wealthy, however, a slowdown in other international property markets has made some buyers look more at life style purchases, rather than pure investment, particularly above €8 million.
The slowdown in recent years means buyers are getting the best value they’ve seen in five or six years and the change in political leadership under President Macron is giving people a new confidence to invest in France. This is true for all levels of the market but particularly in the super prime market.
Cannes and surrounding areas also come with the promise of high rental yields, given the year-round events held in the region, such as the film festival – that take place in the Palais des Festivals.
These changes signal that the market is starting to waken from its slumbers.