The figures are taken from Savills’ latest report on the Côte d’Azur.
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The report from Savills estate agency is clear: the Côte d’Azur property market has weathered the Covid crisis well, with sales of €2.1 billion last year.
Nice, the main property market on the Côte d’Azur
Although the Côte d’Azur topped the Savills index of second homes, the region attracts many buyers thanks to one town in particular.
According to the Savills ‘Joie de vivre’ index, which ranks the Côte d’Azur’s main markets according to residential property prices, connectivity, hospitality, quality of life and international profile, Nice tops the list. The Côte d’Azur town, where residential property prices can range from €10,000 to €16,000 per square metre, is very well-placed in terms of connectivity and lifestyle.
Behind it come Saint-Tropez, Saint-Jean-Cap-Ferrat, Cannes, Èze and Villefranche-sur-Mer.
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Global demand
According to the study, the profile of buyers investing on the Côte d’Azur is very varied. “Although the number of French buyers is significant, the market is driven by global demand. European buyers tend to come from the Benelux countries, Scandinavia, Germany and the UK. Monegasque residents are also very active and are looking to the Côte d’Azur to buy a second home,” explained Alex Balkin, Executive Director of Savills French Riviera, adding: “We are also seeing buyers from the Middle East and, in recent years, increased business from the United States, attracted by the Côte d’Azur lifestyle and taking advantage of a comparatively stronger US dollar.”