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9th February 2010
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 Côte d’Azur - Life under blue skies The slowdown in France’s property market offers a unique opportunity to fly south and find a place on the French Riviera, says Rebecca Russell...It’s early Spring on the Côte d’Azur and a perfect blue sky stretches over the sea. It’s warm enough to meander down to the beach for a swim but equally, since it’s still the ski season, you could enjoy the snow fields only about an hour from Nice. Welcome to life on the Riviera. As those who live here know, this part of the world really has everything: glorious summers, short mild winters, beautiful beaches, mountains and Italy on the doorstep. With its mix of laid-back Mediterranean life-style and cosmopolitan St Tropez-glamour, the Côte d’Azur has long been the place to be and be seen. An affordable slice of heaven Accordingly, property prices in this hot-spot have always fetched a premium. But at the same time the Riviera, like Paris, is also one of the few places to hold its value long term, even in difficult economic times. The fact that you can land in Nice in beautiful sunshine in probably less time than it takes to cross London in a traffic jam continues to entice people and make it a sound investment. Although the Riviera will always be desirable, the local agents all agree (and the figures confirm) that even here we are seeing a distinct slow-down in the property market. After several years of sky-rocketing prices (thanks in part to the new Russian buyers who pushed prices up, but who are now just as quickly disappearing), there is a trend to more realistic and affordable property pricing. In the Provence Alps–Côte d’Azur region, the average property price per square metre dropped from Euros 3,457 in 2007 to 3,341 in 2008. Stylish Cannes saw a 13.2 per cent drop in apartment prices last year. And the slide continues, with FNAIM (the French national real estate organization) predicting property prices to fall across France by at least 10 per cent in 2009. Sellers who before were seeing their apartments and villas snapped up for top euros are finding a dwindling audience and are now often prepared to negotiate to make a quick sale. Put simply, the dream of owning a piece of Mediterranean heaven has never looked so bright. Nice, Antibes and beyond Although the millionaire playgrounds of Monaco and St Jean Cap-Ferrat remain in a league of their own (Monaco has the honour of being the world’s most expensive market - at the high-end, an eye-watering Euros 34,600 per sq metre), finding an equally desirable address on the Riviera for a lot less is within reach - and getting easier. From pretty coastal towns such as Antibes and Menton to charming inland villages (which often offer better value for your money) like Vence and Valbonne, it’s a case of touring around and getting a feel for the different areas. However, if arriving by air your first port of call will always be Nice - the unofficial capital of the Côte d’Azur. France’s fifth largest city and host to its second biggest airport, Nice is a beautiful town with great restaurants, shops, and art galleries plus a beach on its doorstep. A buoyant second home and rental market means property prices in Nice tend to keep their value but it has the appeal of still being affordable. From the lively Italian-feel of Vieux Nice (old Nice) and the Port to the more residential but still inner-city spots such as Musiciens and the Carré d’Or, Nice offers a wide choice of properties and prices. Bijoux studios start at around 90,000 euros, while one or two bedroom apartments can be found in the 150,000-400,000 euro price range. The 500,000 euros and up price group will buy you something more spacious with views and a central location.  If a sea view is important then this one bedroom apartment (40 sq metres) with a large terrace is ideal. Close to the centre but in a calm neighbourhood, it’s on the market with an agency at 245,000 euros. A perfect holiday apartment, another advantage is that it comes with a garage included in the price. Parking space is much sought after in Nice and you will often find that a car park will be offered separately from the apartment sale. Even if you don’t have a car, it is worth thinking of paying the extra as it adds value to the property and can be rented out. However if you crave living in the thick of things, the Port area is one to watch. Not only does it have a good price selection of studios and apartments but it is also about to have a major face-lift, turning it into a luxury marina with plans for a pedestrian zone and swimming pool. If looking for an investment (as well as a lively place to be with its cafés and fantastic food shops), this is definitely an area to consider.  Private sales can turn up gems and this apartment in Musiciens in the heart of Nice (and walking distance to the beach) is one such example. This is a beautifully renovated two-bedroom, top floor apartment (74 sq metres) with a large terrace. The asking price is a very good 335,000 euros (less chic apartments this size in the area are usually in the high 300,000's to early 400,000's). Looking at private sales is a way to widen your search considerably and get a reduced price as there are no hefty agents’ fees. This is when using a property finder is an advantage as they know where to look and will guide you through the buying process. Turning away from the coast has its advantages – you’re never far from the sea but property prices tend to be less expensive in the pretty inland villages. Close to the village of Valbonne, for example, you can buy this beautifully done up Provençal-style, three bedroom villa (95 sq metres) set in olive-grove countryside for 570,000 euros. For a smaller price, there are also always properties that need renovating or updating.People who thought the Côte d’Azur was beyond their means are thinking again. How long this opportunity will last is impossible to say, but the clever ones (and this includes the locals who are taking advantage of the market) are getting in fast and toasting their good fortune with a glass of perfectly chilled rosé.  Based in Nice, Rebecca Russell is FrenchEntrée's property finder for the Côte d’Azur area. If you are interested in her help to find you a perfect property on the Riviera, please email: rebecca.russell@frenchentree.comor telephone: 00 33 (0)4 93 26 50 34 / (mobile) 00 33 (0)6 23 63 07 79. Visit www.frenchentree.com/nice-property-finder for further information. Nice Property Home Page Looking for a property in France? Use FrenchEntrée's Property Finders to help you find your property and to help you through the buying process 
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