The EstateNetFrance.com Research Luxury Property Index offers a unique and independent view of the French Riviera and Monaco’s luxury property market.
The monthly index reflects the evolving prime market, and for the first time provides authoritative data for the world’s most exclusive holiday home destination. It segments the upper end of the market for apartments and villas within the Alpes-Maritimes department and Monaco, in groups of €1million to €3million, €3million to €5million, €5million to €10million, €10million to €20million and €20million and up.
February 2011 Property Report
The luxury property market on the French Riviera and in Monaco is experiencing a “top-up” of properties for sale by 6.9% (527 units) in preparation for the start of the summer 2011 sales season, marked by the Cannes MIPIM Real Estate Expo in early March.
This boost of new properties coming on the market has increased the total value of luxury properties for sale by 5.16% to €26.1bn since January. The average price for a luxury property rose following a strong start to 2011, by 1.3% from €2,316,224 to €2,346,370, between January and February.
Featured Area: CAP D’ANTIBES
The world famous half island of Cap d’Antibes is home to some of the richest people in the world. This month’s featured property is a piece of art: “Villa Ex” was built in 1961 by architect Claude Parent for the sculpture and designer André Bloc, “Villa Ex” sits exceptionally at the highest point of the Cap d’Antibes (click here for details and photos). With today’s 239 properties offered for sale at over €1m, the Cap d’Antibes’ high-end property market has a value of €1.5bn and a luxury property on “The Cap” will costs an average of €4.4m.
Comment: The luxury property market is considered in this monthly index to be any house or apartment priced to sell on the open market for a minimum of €1.000.000.