Côte d'azur property prices down one-fifth

Photo credit: Sharon.Schneider

The Côte d'Azur has always been one of the more expensive - and more desirable - areas of France in which to buy property. But the market is increasingly favourable for investors, according to one agent, as prices become more affordable than they were at the market peak.

Indeed, in Cannes and surrounding areas, luxury house prices have continued to decrease since 2008. Before the crisis, a new apartment in La Croisette in the Centre of Cannes offering 140m2 of living space, with a 60m2 terrace, a garage and sea views, could go for €3,500,000. Now, it could quite easily be negotiated for sale at €3,000,000, says Sextant French Properties - a difference of 16 per cent, which, for high-end homes, can amount to a lot.

"Following many incentives to boost it, it is highly likely the French market will soon be back on the rise again," adds Sextant, "thus now is the time to invest in the luxury house market and reap the benefits later."

Indeed, French property has become increasingly sought-after on TheMoveChannel.com, overtaking Spanish property in terms of enquiries and remaining the most popular of the countries for several months.