I often suggest to my clients, who wish to buy a property on the French Riviera, to think about renting it when they’re not in. Indeed rent a property on the French Riviera is a good investment. My clients earn money with their properties. Sometimes, when they decide to buy a property on the French Riviera, they take into account tourists’ needs.
As a matter of fact, tourism is a huge business for French Riviera. Here are some data about tourism in the French Riviera. It deals only with Alpes Maritimes (Nice, Cannes) and Monaco. Once you’ve read these data about tourism in the French Riviera, you’ll consider to invest in the French Riviera real estate !
First, French Riviera when it refers to Alpes Maritimes and Monaco, represents more than 1 000 000 inhabitants. 12% are foreigners. In 2006, more than 10 000 000 visitors come and see French Riviera. Is that a good point to invest in the French Riviera real estate ?
For leisure, tourists stay around 1 week on the French Riviera. For business, visitors stay 5 days on the average. Among all these tourists, 52% are foreigners : they are mainly coming from Italy, United Kingdom and Germany. Tourism in the French Riviera represents 10% of the global international tourism in France ! In 2005, foreigners expenditures in the French Riviera were € 5 billions !! That’s is why you should invest on the French Riviera real estate !
You’ll find following some prices about real estate on the French Riviera. I am dealing with average prices. You can find huge differences depending on the location of the property (close to the sea, downtown…). But if you are willing to invest in the French Riviera, that can give you some ideas of prices.
First of all, famous cities in the French Riviera like Villefranche sur mer or St Jean Cap Ferrat are much more expensive that others cities in the French Riviera. Real estate prices are around € 7000/m². But real estate prices had been decreasing during the whole last year. Now, they’ve been increasing but at a slow rate. The growth is much more sustained in Cannes where real estate prices are around € 5000/m². Nice is less expensive with € 4300/m².
Moreover some less famous cities in the French Riviera take advantage of their very good location : closed to bigger cities with calm and less tourists. Indeed, if you want to invest in the French Riviera, you have to know that real estate prices are high in Villeneuve Loubet (€ 5300/m²) or in Cap d’Ail (€ 6500/m²). Villeneuve Loubet is perfectly located between Cannes and Nice; Cap d’Ail is the closest city to Monaco.
As far as I am concerned, I recommend to have a look to the countryside. It appears to me as a good place to invest in the French Riviera. Cities like Opio, Roquefort les Pins are really beautiful and you can find wonderful properties as a good price ! Indeed, since the middle of 2007, real estate prices have been decreasing. I think there are some good opportunities to find there.
Given that Nice is the fifth city in France, traffic is a big issue. Cars are more and more numerous in French Riviera and it will increase by 25% until 2020. Nice city hall had to find a solution to relieve congestion in the city center. At the end of 2007, finally trolley cars entered the city. Works were very long and hard to bear for storekeepers downtown. But now the result is prodigious.
On one hand, the first trolley line reduces time between districts. For intance you can go from the north of Nice to the “Place Massena” within 14 minutes. By car, you have to drive 40 minutes and by bus it takes 30 minutes. Indeed, as parking are scarce, people stop their cars everywhere and specially on bus lines ! Trolley is the best solution because the lines are dedicated only to trolley cars and no other cars can go into. On the other hand, the city hall not only changes the streets for trolley cars but also improves streets and places on the Nice trolley run. €13,000,000 have been invested in the transformation of Nice famous place : “Place Massena”. The objective is clearly to make traffic easier dowtown and to offer bigger and nicer areas for pedestrians. Continue reading ‘Nice changes for the better’
