Engel & Völkers Licence Partner Luxembourg > Blog > Expert Talk: What future for second homes on the French Riviera?

Expert Talk: What future for second homes on the French Riviera?

How does the current situation affect the Côte d'Azur market? Will the pandemic have a lasting effect on the market? What are the consequences for Luxembourg homeowners? We spoke with Marie-Claire Sangouard, Managing Director Engel & Völkers Côte d'Azur.

Marie-Claire Sangouard has 22 years of experience in real estate and is not only an expert in real estate, but also in building pathology. She has already been with Engel & Völkers for 8 years and holds the position of Managing Director at the Côte d'Azur. "The recovery is intense," says Marie-Claire Sangouard, "and everyone is waiting for the announcements of total deconfinement and the opening of borders and restaurants." It is true that thanks more and companies embracing telework, the French Riviera has seen new buyers and a renewal of supply and demand, which is linked to the fact that many people are thinking of moving or starting over somewhere else.

The Côte d'Azur: a safe bet for investors

The current situation on the Côte d'Azur is unprecedented, certainly, but positive, because "more than ever, investment in stone remains reassuring," explains Marie-Claire Sangouard. "The sun and wide open spaces still attract as much." The Côte d'Azur remains a sure value, and its attractiveness has never waned, even during a major financial crisis. Luxembourgers, for whom the Côte d'Azur is a very popular destination, are an important clientele for the Coast, explains Mrs Sangouard. “Investment in stone remains, and there is a strong demand for large exteriors and beautiful gardens.”

Real estate market remains on the rise

"Real estate is always on the rise over the long term," says Marie-Claire Sangouard. "Despite a few ups and downs, investors have not lost money over the last 20 years". Among international investors in Côte d'Azur properties, 47% are from Italy, 13% from the United Kingdom, 10% from Scandinavian countries and 6% from Luxembourg and Belgium.

Despite the instant cessation of visits in March 2020, the Côte d'Azur teams have remained very active with their clients. "Our committed projects are or will be finalized," explains the Managing Director. "And with a diverse portfolio of 500 properties of different types, we absolutely have the properties you are looking for," she reassures us.

Watch the entire Expert Talk right here:

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