With so much uncertainty in the property market in places like the UK and the USA, prices are falling and clever investors are working on the principal that uncertainty is good. In other words it’s time to take advantage of a market in flux and according Dennis Broadfield, MD of the Totally Property group based on the Riviera, there is no better time or place to invest at the moment than on the French Riviera. He says “The property market on the Riviera is still bouyant but vendors are starting to realise that to make a sale they have to be a bit more flexible.”
He adds “what makes the Riviera a good investment at the moment is it’s fundamentals. The Riviera is a fashionable and chic destination, It’s beside the sea, in a warm climate, with great infrastructure and services - and there will always be buyers/investors looking for good properties on the Riviera whatever is happening in the markets.”
This brings together two diametric principals of investment that are very rarely seen together - A traditionally bullet-proof and strong investment market (because of its fundamentals) coupled with a growing sense of reality from vendors, means that canny investors are now buying in strength on the Riviera.
For more information about investing on the Riviera contact Dennis Broadfield at dennis@totallyriviera.com or on +33(0)6 25 27 88 66
3 Comments
I agree. It is a good time to buy in Nice. In fact it is difficult to see any better place to live in the world. Look what happens all over our planet! Wars, natural disasters, extreme cold, increadible heat, very high crime, ugly architecture, poverty, aggressive people, poor quality of infrostructure… Nice is the place where you don’t find any of that. It is a unique place full of charm and opportunities and with fantastic sea, places to relax, places to eat, culture, nice people and most attractive buildings and in the centre of the whole world within an easy ride to Monaco, Cannes, Nothern Italy and many other fascinating places. The prices are higher than in most of Nothern France, but for 400000 Euros you can still buy a smashing apartment in the most prestigious part of Nice in the centre! Smart people invest in Nice and they also go to Monaco from time to time as it is so easy and cheap! You would alsmost consider Monte Carlo as your local…
From Kenneth -
“I so much agree with a previous blogger about investing in Cote d’Azur and practically in Nice.
Due to the international financial environment NOW is the time to move!!! Prices are stable or slightly falling.
But remember Nice is a city that lives all year with a great stable rental potential. There will always be people from all over the world coming to Cote d’Azur. If it’s not the Brit’s it is the Scandinavians or the Russians. Just wait until the Chinese see the potential. Remember French Grand Cru Classé wines. The Chinese discovered it and now you cannot buy it for money.
It is very easy to buy, renovate and rent the apartment and turn it into a great investment. If I had the enough funds I would buy ALL I could get my hands on!”
Best regards,
Med venlig hilsen
Kenneth
I completely agree, I have lived in the centre of Nice for 2 years and barely fault it for quality of life, safety, culture and enjoyment… a true gem.
From a professional point of view I believe that people are missing out by not buying due to the current relative strength of the euro. My point to these people is that it is incredibly easy to borrow money in France to pay for most of the property (up to 85%), meaning you have a euro debt on a euro asset. The differential in interest rates is minimal, though still on the side of the French loans, meaning one could potentially ‘net-off’ the majority of the interest by leaving cash on deposit in the UK.
Few French loans have repayment penalties and so if the exchange recovers to a point where you feel more comfortable then you can send your sterling over to repay the loan.
I will be producing an article on this point and will post a copy on this blog… bottom line is ….
fundamentals are still good, there is availablity of liquidity, if you have a good solid income then DONT MISS OUT!
Peter Brooke