2014 has been a very interesting year for Riviera real estate. Prices have decreased slightly and certain properties are maintaining their asking price, in the hope that they will have a buyer who has a ‘coup de coeur’!
Many of the properties on the market are owned by investors, developers, or private owners as secondary homes, which generally entails that there is a slower turnover of properties, certainly in comparison to speedy markets such as New York and London.
Seasonal rental demands have been lower than previous years, which may have to do with new fashionable hotspots across the Med, such as Ibiza, bad international press that France is receiving, and the situation between Russia and Ukraine. Eastern Europeans have a strong presence along the French Rivera, mainly in prime areas such as Saint Jean Cap Ferrat, Cap d’Antibes and Saint Tropez.
However we are sure that this will be a temporary situation, as the Riviera holds a unique elegance, which brings holiday makers from all over the world.