Article in “Riviera Times”
“The heat is not off – There is no time to lose when you see a property you like despite a slow-down in price hikes”
This was the heading of an article which appeared in the Real Estate section of The Riviera Times (a local newspaper printed in English, Italian and German) as follows:
“A sellers’ market. Buyers are many but hard to please because they want the best and the properties to offer are not numerous. Our advice is don’t hesitate to buy the house you like even if you have to compromise – that dream property is expensive!
Jackie Pressman, an English business woman who helps people find what they want and sees them through the buying process says “I found two apartments in the Marina Baie des Anges for a family. They couldn’t decide between them and lost both – and that was within three days”
Jackie is not a property agent and for those not sure where they want to be on the Cote, she can advise and save them all the legwork. “If they are only going to come for a few weekends a year, I’d recommend an apartment in Cannes as it’s easy to rent out. If they take a mortgage with 30% deposit, and provided the apartment is in the right location, then with the income they derive from the year-round congress and conference market they can cover all expenses, taxes, bills etc. and often also the interest on the mortgage”
Pockets of desirability In her view, the prices in pockets of high demand, like Cannes within ten minutes walk of the Palais des Festivals, are still increasing fast. “This area of the Riviera has a lot of micro-situations: highly desirable places which if priced in line with the current market go very quickly, whereas those in the hills can sit there for a year or more. That situation hasn’t changed. For example Cap d’Antibes and Salins beach between Antibes and the Cap are still very desirable too”, she says.”
In this article the following is also important for potential buyers to note:
“Those who have bought as an investment do not need to worry too much as it’s unlikely that prices will actually fall. The Chambre de Notaires believes all indications are that people will continue to be attracted from the north to the south. In the Alpes-Maritimes, the price of desirable houses and apartments by the sea will continue to be higher because of increasing new demand from eastern countries.”
Jackie’s comments: It is to be noted that in this area of the French Riviera, property prices are not solely governed by the French economy. When someone makes money in their own country one of the first things they want is a place on the French Riviera. My company French Riviera Property Search is here to help you.