With the current state of the economy and the world being unfortunate, you’d figure that the real estate industry is too. However, it’s quite the opposite on the French Riviera! I am going to let you all the important details incase you are interested in buying a home in the South of France.
Whether it be a holiday villa in Saint-Jean-Cap-Ferrat, a quiet home in Pays des Fayence or a luxury apartment in Cannes La Croisset, you need to know exactly what you’re getting yourself into. If you want to know the difference between these locations, take a look at our post about finding your perfect home in the South of France on the Wretman Estate blog!
The Covid-19 pandemic has decreased the number of foreigners visiting the South of France and has made banks more risk averse globally. However, the market is unusually good, particularly for properties that has a good outdoor space. Here is a list of reasons why we believe the market is doing so well and why you should consider buying a property in the South of France:
- Lockdown has made people more aware of how important having a «good» home is. It is important that you live in an environment that makes you feel comfortable and happy. The pandemic has really brought to light how much our surroundings impact our overall health, both mentally and physically. For example, the furniture industry showed an incredible growth in 2020. This was because people were focused on consciously making their living spaces comfortable and well adapted to their new lifestyle.
- Notaires have pointed out that many people have had an increase in savings. Since the Covid-19 pandemic and lockdowns have made it so that we are not able to spend as much money. We are not able to go on vacations, go out to restaurants, and spend as much money on gas. This had made it easier for people to be able to afford the initial down payment on a property.
- Interest rates in banks are still favorable and have not increased.
- People tend to invest their money into properties during such uncertain times. They stay away from volatile investment options such as the stock market. More tangible sources of investments are always favorable especially during such unstable times.
- As many people are looking to invest in properties, they are looking for a good location. The South of France has one of the most sought after climates in the world! Here we have all 4 seasons, however our winters are filled with sun instead of clouds. For people having to work from home, many have chosen to buy a property on the Riviera. This is to increase their quality of life considering the fact that we are spending much more time inside. For example, many people have moved from the North of France, such as Paris, to the South of France because of its climate.
- Real estate prices in the South of France have been relatively stable for a few years now.
- The French Riviera is located in the perfect spot for those looking to travel throughout Europe. When compared to competitive areas in the region such as Spain and Portugal, the French Riviera remains on top. You can read about the geographical advantages of the South of France right here on our website.
- The region is very diverse, meaning that people from all over the world are interested in moving here. This makes demand for properties in the South of France very stable. It’s one of the most sought after locations in the world.
As we are approaching the end of the Covid-19 pandemic, we can expect there to be a great increase in the real estate market once we are allowed to travel again. Moving to the South of France is something many people dream of doing. Its beautiful architecture, sunny weather and kind people make the region irresistible. Many people choose to buy a holiday home in the South of France to escape the winter months in their home country or to move here permanently and enjoy its benefits year round.
We hope this opened your eyes to the benefits of owning a property on the Riviera. We have also written a Covid-19 guide for the current situation in the South of France. If you take a look at the stunning properties for sale in the South of France you can understand why many people chose to live here and we hope you do too. Feel free to contact us at Wretman Estate if you have any questions!