The French Riviera has always been one of the world’s most desired destinations. Wealthy UK nationals have been buying second homes in the French Riviera for years. But the interest went down a bit for a few years following the 2008 global recession, as people were really concerned about their future. Things have changed now. If you have a luxury villa for sale in French Riviera, here’s the good news – the Brits are back!
The confidence in the British economy is back and higher than ever, especially after the business friendly Conservative Party led by David Cameron rushed roared back to power in the 2015 General Elections. British buyers interested in properties in the French Riviera have the exchange rate in their favour as the pound has never been stronger vis-à-vis the euro. This in combination with cheap mortgages and a deflated residential property market makes it a perfect time to buy a house in French Riviera.
Prices along the French Riviera are high as ever, after all, it’s one of the most desired destinations in the world. So a positive exchange rate can save British buyers over £25,000 on each purchase. This combined with the low mortgage rates of 2.5 to 3 percent is great news for buyers. ECB’s quantitative easing programme is another factor that has to be taken into account as it has had the effect of deflating properties across Europe, even in the French Riviera.
Tim Swannie, director of real estate agency Home-Hunts explains, “It is a unique time for the property market because asking prices have dropped over the past few years and when you put that together with the low mortgage rates and the amazing exchange rates on offer, there has not been a better time to buy in more than ten years and savvy buyers are realising this.”
It’s no wonder then that properties in the French Riviera are down in value from their peak in 2008 by 18%. This presents a great opportunity for property buyers as they can benefit from the rental market in the French Riviera by converting renting out their homes when not actually using them. Properties in French Riviera can make homeowners money all through the year.
So which are the areas that get the most demand from overseas investors in the French Riviera?
St Tropez has some of the most expensive properties in the French Riviera. It is where the high and mighty of the world own a second home – top Silicon Valley executives, Wall Street CEOs, movie stars, rock stars, and so on. Do you have a property here?
Valbonne and Mougins
Valbonne and Mougins are hugely popular with tourists as well as home seekers because they have some of the best restaurants in France, all with great food and warm and friendly local population. Valbonnne and Mougins are home to international schools and the fast growing software industry in France. Some of the Valbonne villages such as Opio, Roquefort-les-Pins, Chateauneuf de Grasse and Le Rouret offer a most beautiful lifestyle and are at a short drive from the loveliest beaches in France.
Villefranche-sur-Mer and Saint-Jean-Cap-Ferrat
Villefranche-sur-Mer and Saint-Jean-Cap-Ferrat have the advantage of being close to Monaco, which is the gambling capital of the world. Both regions offer spectacular views and boast of some of the most expensive real estate in the world.
Cannes is a resort town on which is synonymous with glamour thanks to its globally famous film festival, the Festival de Cannes. It’s where the rich and the beautiful of the world prefer to live. Most Hollywood celebrities own luxury villas in Cannes and spend at least a part of the year here.