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Guide to the Côte d’Azur

Property

Understandably, given the popularity of the Côte d’Azur as a tourist destination, property in many parts of the Côte d’Azur has escalated in value beyond the means of the majority of the overseas property market. It should also not be overlooked that there is significant competition in the marketplace from those French citizens who are also looking for a second home or to relocate to a warmer climate.

That said, there are some significant opportunities for ordinary buyers to have a piece of the Côte d’Azur to themselves either as an investment to let out to tourists, or to use as a base in France. Within some of the growth areas of the towns along the coast, there are properties available which are not as expensive as might be imagined. There are also some great investment opportunities.

The leaseback scheme, unique to the French property system, is a method of buying a property in a tourist destination, letting it out for the majority of the year, having a guaranteed rent over a period of up to 11 years, and then taking full possession of the property for personal use.

New developments and renovations of older properties are also taking place inside the towns along the coast, and in the villages going up into the hills behind the coastline, offering opportunities to own an apartment from under £200,000. It is also quite possible to stumble upon a small apartment in the centre of Nice for not much more than £100,000.

Of course, should you fall into a large sum of money, or have the kind of job that will allow you to splash the cash, there is almost no limit to the properties you can buy in this area. From apartments in Monaco overlooking the casino to rambling seaside villas in the exclusive community of St Paul de Vence, there will be something here to soak up your millions.

Local life

Much of the Côte d’Azur was under-developed until the British came along to explore the tiny fishing villages that dotted the coastline. Cannes was relatively unknown until Lord Henry Peter Brougham, a British politician, discovered the town on his way to Italy, and used his many connections in French politics to purchase land.

Conclusion

The Côte d’Azur is one of the most desired and exclusive destinations in the world both for tourists and for property buyers. However, the perceived cost of property there means that many people do not even consider it as a possibility. With a little open-mindedness as to your preferred location however, you can find a property reasonable priced and within striking distance of the Mediterranean.


More pages

Page 1: Introduction
Page 2: Property

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