Buyer demand is booming for property on the French Riviera, according to agents.
France has always been one of the most popular destinations for property buyers, particularly those from Britain, but the last year has seen demand climb higher, as historically low mortgage rates opened up the market at new levels of affordability.
Combined with favourable exchange rates with the euro, the result was good news for bargain hunters, but also means that those seeking high-end properties can get more value for their money.
The fact that land on the Riviera is restricted by planning laws means that only a handful of properties in the most sought-after areas are available, which has helped to keep demand high.
Home Hunts, though, enjoyed a particularly strong 2015, with enquiries for luxury homes on the Riviera surged 60 per cent year-on-year. Viewings, offers and sales were all up.
“The luxury property market on the French Riviera has really boomed in 2015,” says Tim Swannie, Director of Home Hunts.
“Although we saw activity start to increase in 2014, this year the market has transformed and it has been the busiest we have seen since starting the company back in 2004.”
The company’s report arrives as France became the second most popular destination on TheMoveChannel.com for the second month in a row, as demand outpaced rival Spain.
Swannie highlights Mougins, Villefranche Sur Mer, Vence and St Tropez as hotspots that are particular popular among overseas buyers.
“With a small, exclusive population of 4,500, almost two-thirds of houses here are holiday homes and some of the most coveted property on the French Riviera,” he comments.Google+