Despite the health crisis that has ground the world to a halt over the last few months, the Côte d’Azur luxury property market is holding up well and forecasts for 2020 are good. Unlike other more volatile markets, investing in bricks and mortar, particularly when it’s an exceptional property, is considered a safe haven - and, now more than ever. Property trends on the Côte d’Azur are emerging for the remainder of 2020.
Although 2020 looks a promising year for the luxury property market in general, this is particularly true when it comes to the Côte d’Azur. An international reputation and wide variety of exceptional properties helps attract purchasers from the world over.
A strong interest in second homes
According to a study conducted last November by Propriétés Le Figaro, 77% of people questioned thought that it was a good time to buy. 39% of them were hoping to buy a luxury property within the year, 24% within one to two years and 15% within two to five years. It should also be noted that 39% were planning to buy a second home. This is particularly interesting given that the Côte d’Azur property market mainly consists of second homes.
The Côte d’Azur, a region that is still extremely attractive
Breath-taking landscapes between the coast and mountains, a particularly mild climate with more than 300 days of sunshine a year, charming traditional villages and vibrant cities which host internationally renowned events such as the Cannes Festival...The Côte d’Azur boasts a number of undeniable advantages that continue to attract potential purchasers of high-end properties, from both France and abroad.
Although lockdown has not adversely affected the number of sales, it has influenced purchasers’ search criteria. Now, potential purchasers, hunting for exclusive properties on the Côte d’Azur, prioritize space, favouring spacious accommodation that will offer some privacy in the event of a future lockdown. Outdoor space has become a priority, even trumping a great view, which up until recently was a key criterion. Houses with a garden and pool are especially desirable.
The villages of the Côte d’Azur are on a roll!
The area surrounding the villages of the Côte d’Azur is much sought after, a trend that shows no sign of slowing down. Buying a luxury villa near the village of Mougins or Valbonne, for example, offers both space and access to entertainment. These picturesque Provençal villages, with their traditional charm, boast numerous restaurants, cafés and even art galleries.
Well-connected cities on the Côte d’Azur are also much in demand
However, towns and cities are not totally overlooked, particularly those with an airport nearby. This ease of access will make it easier for Parisian or foreign purchasers to visit their future second homes. So, seaside towns such as Cannes or Nice still have many bright days ahead of them. And particularly exceptional properties with balconies and terraces.