Côte d'Azur: current state of the real estate market after the confinements
The Côte d'Azur is a region of France, which is very popular with tourists who go there for exceptional moments of relaxation. This high influx makes it one of the best places to invest in rental property. However, it is necessary to know the housing market on the Côte d'Azur before contributing this investment, which is quite difficult, although profitable. Discover with Hermitage Riviera everything you need to know about the real estate market on the Côte d'Azur.
The Covid-19 crisis and its successive confinements have aroused enormous fear among the populations of the world, with regard to the fall in the real estate market. However, the opposite happened unexpectedly with a sharp rise in the real estate market. For real estate on the Côte d'Azur, it is the same situation.
The rapid growth of the real estate market on the Côte d'Azur
This considerable increase is due to a strong enthusiasm of the inhabitants of the big cities for the accommodations of the Côte d'Azur. Several reasons lie in the root of this situation: the democratization of telework, the lower cost of housing than in mainland France, the sublime landscapes. First of all, telework is now firmly anchored in the customs of the professional environment. It is possible for anyone to work for a Parisian company while living on the Côte d'Azur.
In addition, the towns and villages in this region offer much more space and silence. It is easier to have access to housing with a courtyard or outdoor space than in cities like Paris and at a much more affordable price. In general, real estate costs two to three times less in this region than in Île-de-France. The magnificent landscape of the Côte d'Azur, which alternates between cliffs and sunny beaches, also quickly captures hearts.
All these elements have contributed to an exodus of populations from the large congested cities to the towns and villages of the Côte d'Azur. As a result, the price soared with an average value of €3678 per square meter for an apartment and €3993 per square meter for a house in March 2022. This is an estimated increase within a range of 10% to 20% of the initial price depending on the areas concerned.
The scarcity of real estate found on the Côte d'Azur
The high demand for housing in this coastal region of southern France has led to their scarcity. It is also one of the causes of the price of real estate, which continues to soar on the Côte d'Azur. Whether new or old, the stock of housing to be marketed has greatly diminished. The ratio can be estimated as 1 property for sale for 5 potential buyers.
In general, we see that this real estate available for purchase is sold within a very short period of a few weeks. They are sometimes bought on the first visit by customers who are quick not to miss an opportunity when the coveted property meets their expectations. The best-selling accommodations are apartments and houses with a garden or terrace.
The scarcity of these properties also leads to an increase in the self-esteem of real estate agents because they are aware of the scarcity of property supply. This represents a real shortfall for buyers who find themselves exposed to much higher prices than normal.
The properties that are sold on the market in the easiest way
It is clear that there are properties sold at the price of the exclusive mandate that is in the easiest way. This is due to the fact that the agent who will take charge of the marketing of this property will be more involved in closing the sale. The best means available to earn the expected commission will be used by an agent.
In addition, the property for sale on the Côte d'Azur will not suffer from price inconsistencies or anarchic devaluations. Indeed, when the mandate is not exclusive, several agents can present it to their customers at various prices. Most will lower the amount required for a faster sale.
This will create a feeling of inconsistency in the offer for this property and reluctance among buyers. Customers will have the impression that the property has difficulties with selling. This is why its price is revised downwards. This may discourage some customers who will doubt the real value of the accommodation offered.
They will be more inclined to negotiate the price of the property even lower or go to various agents who offer this property before buying it. It will then take much more time before the sale is concluded, compared to the exclusive mandate where the price is set by a single person.
Buy a property on the Côte d'Azur with the help of Hermitage Riviera
Faced with these different challenges to buy a property on the Côte d'Azur, using a real estate agency like ours is the most recommended solution. We are specialized in the sale and rental of real estate in this region, which is often visited by the most popular celebrities in the world: sportsmen, actors, politicians, musicians, public figures.
Plenty of real estate for everyone
Our catalog contains more than 400 real estate properties for sale and rent on the Côte d'Azur. You will find a varied number of prestigious villas, penthouses and luxury apartments, in the cities of Nice, Monaco, Cannes, Saint-Tropez.
Whether for a newly married couple, a retired person looking for a peaceful place or a complete family of 5 people, there is quality accommodation on our website. Our offers are classified according to the sector, the target city, the property sought, the number of rooms and the available budget.
Buying or renting accommodation on the Côte d'Azur with Hermitage Riviera means having the opportunity to commune with nature. It also means living in a setting conducive to concentration for high performance at work. It is also suitable for entertainment with a variety of outdoor activities.
Hermitage Riviera’s Services
Whether you are French or foreign, our agents will be able to respond to your needs quickly, thanks to the mastery of 4 languages: French, Russian, English, Italian. We will also be able to support you in all your real estate activities, whether it is the sale, rental, or valuation of real estate on the Côte d'Azur.
We also offer various complementary services such as:
- legal assistance,
- assistance and advice in obtaining a mortgage loan
- assistance in obtaining a residence permit in France and Monaco
In addition, Hermitage Riviera supports you in organizing your daily life on the Côte d'Azur. These include the selection of qualified personnel, recommendations for moments of relaxation and leisure, assistance in solving property management problems. Taking advantage of our services offers you the best guarantees to find the property of your dreams on the Côte d'Azur.