2019 was a profitable year for the real estate market on the French Riviera. The sector's overall good health was further strengthened by a general stabilization in prices. This has all been promising news for the year 2020 on all fronts. So where should one invest this year on the French Riviera? There are many opportunities and, while some of them stand out for their solid reliability, others are more venturesome and may prove profitable in the years to come.
For more than a century now, the two most iconic and emblematic cities on the French Riviera have been growing in popularity with French and foreign investors. Cannes is an international showcase for French luxury, whose trademark is the famous film festival held every year in May, which welcomes some of the film industry's biggest stars to the red carpet.
Nissa la bella, the great metropolis of the French Riviera, is the 5th largest city in France. Its international airport, the "Promenade des Anglais" surrounded by turquoise water, and the charm of its historic city center make it a privileged destination for young people, retirees, or those looking for a second home in the sun. Both Cannes and Nice have the advantage of being large cities where nothing is in short supply: banks, shops, ports, restaurants, theaters, opera houses and cinemas...
As far as real estate investment is concerned, prices per square meter remain reasonable in these cities. For Cannes, one can count between 6,000 and 9,000 euros per square meter in the city center, between 10,000 and 12,000 euros per square meter in popular areas such as California and the Vieux Port, and between 20,000 and 70,000 euros per square meter on the Croisette.
In Nice, there are also large fluctuations in prices depending on the neighborhood, but on average, costs range between 3,500 and 4,000 euros per square meter for an apartment located close to the city center. In the Cimiez district, costs range between 5,000 and 7,000 euros per square meter whereas prices can go up to 10,000 euros on Mont Boron or in the Carré d'Or. The fairy-tale villas located in Cap de Nice range from 4 to 15 million euros.
Investing in Cannes or Nice in 2020 means choosing long-term reliability.
When leaving Nice headed towards Menton, don't forget to make a stop through the bay of Villefranche-sur-Mer.
The city of Villefranche-sur-Mer is famous for its world-famous harbor. Its citadel, its coastal walkway, and its beach La Marinière will tempt you to set your bags down for an extended stay. The cobble stone streets of this Provencal village are full of real estate treasures with exceptional views.
Saint-Jean-Cap-Ferrat is the symbol of the bay's prestige, where yachts and fishing boats rub shoulders with historic homes and contemporary villas. Its location on the bay is breathtaking.
Beaulieu-sur-Mer is also a fine blend between its prestigious Belle Epoque villas like the Villa Kerylos, the city's casinos and shops, and the traditional French Riviera landscape with its centuries-old olive trees.
In terms of prices, the local real estate market varies between Saint-Jean-Cap-Ferrat and its neighboring cities. In Cap-Ferrat, investing in a villa will cost between €3 and €10 million whereas apartments will be between €10,000 and €20,000 per sqm. Some prestigious villas on the Cape can exceed even €20 million.
In Beaulieu-sur-Mer and Villefranche-sur-Mer, costs range between 7,000 and 12,000 euros per sqm and between 2.5 and more than 20 million euros for a villa with a view over the sea.
The Gulf of Saint-Tropez is nature's jewel of incomparable beauty. Composed of 12 municipalities and home to a total of 56,000 inhabitants, the gulf stretches from north to south over several kilometers inland.
The natural heritage found in this region has spectacular landscapes with multiple hues of colors illuminated by the French Riviera's sunshine.
This corner of paradise is also full of life with numerous activities and events throughout the year. These include the Saint-Tropez Sailing Festival, an event that is renowned both on an international and national level.
Numerous municipalities make up this unique place on the French Riviera, such as Les Issambres, Gassin, Saint-Tropez, Sainte-Maxime, Ramatuelle, or Grimaud.
In terms of investment, this region is a reliable choice for purchasing property. The market remains overall stable thanks to its strong appeal for international and national buyers. Prices can vary between 5,000 and 9,000€ for apartments, and prices for villas start at 800,000€ and may go up to 10 to 15 million euros depending on the view and amenities included.
Would you like to invest in one of these locations? Do not hesitate to contact Engel & Völkers to enquire about available properties for your future real estate investment on the French Riviera!