top of page
Search
Writer's pictureJameson Farn

France's Priciest Real Estate: The French Riviera

Whether looking for a summer holiday villa rental or a property to buy, the number one request we get from clients is they want to be close to the sea.


Realistically, that wish does come with a price, as the allure of the Cote d’Azur for decades continues to hold strong in terms of sales which can also trickle down when it comes to supply and demand with villa rentals, seemingly no matter the economic situation globally.


According to a recent study by the National Federation of Real Estate (FNAIM), the three priciest places to buy property in France are situated along the French Riviera. Coastal resort towns tend to command higher prices than other areas, fueled by strong post-COVID demand and the exceptional quality of housing stock, especially in the South.


In 2024, the top three most expensive cities in France are all charming seaside destinations on the Côte d’Azur: Ramatuelle, with an average price of €16,083 per m²; Saint-Jean-Cap-Ferrat, at €15,819 per m²; and Saint-Tropez, at €14,400 per m². FNAIM’s July report showcases these cities as the most sought-after and valuable locations. In the broader Top 20 list, Var’s Gassin ranks 12th, with Eze and Villefranche-sur-Mer in the Alpes-Maritimes coming in at 14th. Interestingly, Paris ranks only 15th by average property prices, although prestigious areas like Quai des Orfèvres and Avenue Montaigne still break records, exceeding €20,000 per m².


Outside of Paris, Nice stands as the second most expensive city in France, with prices gradually rising by 1% over the past year. A Seloger study reveals that, for a two-person household, buying power has declined: while they could afford 45m² in January 2022, this has decreased to around 35m² today.

However, Nice’s real estate market remains highly attractive. Prices have reached €5,207 per m², despite a general cooling in the national market. This is supported by a nearly 4% increase in the number of prospective buyers compared to the previous year, many of whom are second-time or first-time buyers from other regions. Among France’s ten largest cities, Nice ranks just behind Paris and ahead of Lyon in property value.


Property prices in resort towns across France are, on average, nearly double those in other areas—€4,514 per m² compared to €2,933 per m². Over the past decade, prices in these coastal regions have risen significantly, with the 2020–2023 period seeing an especially strong boost as demand for space and nature surged due to lockdowns.

The Provence-Alpes-Côte d’Azur (PACA) region leads with the highest average prices among seaside areas, with its 42 towns averaging €5,820 per m². The region’s most affordable towns, all located in Var, include Fréjus, Hyères, and Cogolin, where prices are around €4,500 per m². Between June 1, 2023, and June 1, 2024, PACA was the only region in France where property prices saw a slight increase (+0.3%), while the sharpest declines were noted in Nouvelle-Aquitaine (-6.3%) and Pays de la Loire (-5.9%).


Transaction volume in French coastal towns remains robust, with Cannes and Antibes leading, followed by Agde, Saint-Raphaël, and Fréjus. Cagnes-sur-Mer ranks 9th, with Menton in 11th. Interestingly, Parisians make up 15% of the buyers in these popular seaside destinations.

FNAIM highlights the distinct features of the real estate market in France’s resort towns. These towns typically have smaller permanent populations: four out of five have fewer than 5,000 residents. They also boast a high concentration of second homes, with nearly half (47%) being used as such, compared to only 10% elsewhere in France. Notably, one-third of all second homes in France are located in one of the 520 coastal resort towns.


The study also reveals a higher proportion of retirees in these towns—35%, compared to 22% in non-coastal areas. The average age of buyers in resort towns is 54.7 years, almost ten years older than in other parts of the country, where the average is 45.8. Additionally, the share of foreign buyers in resort towns is slightly lower than the national average, at 6.1% compared to 8.1%. However, a larger proportion of these foreign buyers are non-residents, making up 47% of foreign buyers in resort towns versus 38% in the rest of mainland France.

Resort-town housing also tends to be of higher quality, particularly in energy efficiency. Around 45% of homes in resort areas are rated “A,” “B,” or “C” on the energy performance scale, compared to 35% elsewhere. Meanwhile, only 9% of homes in resort towns are labeled as energy-inefficient (“F” or “G”), lower than the national average of 13%. The PACA region, for instance, has the fewest energy-inefficient homes (4%) compared to areas like Brittany (18%). "Southern French resorts generally achieve better energy performance ratings than those in the North," FNAIM notes.

According to FNAIM, seaside resorts are defined as "coastal municipalities with at least 15% second homes and that either have a beach or are classified as a tourist destination." Under this definition, mainland France has 520 seaside towns, 42 of which are in the Provence-Alpes-Côte d’Azur region.


If you're considering property investment, the French Riviera consistently remains a robust choice.


תגובות


bottom of page