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.
April 2011 Property Report
With return to “business as usual” on the French Riviera the property prices are on the way up. There is a surge in sales of the super villas along the coast with Saint Jean Cap Ferrat leading the way, as the Russian and more recent Chinese billionaires again are acquiring 2nd homes at prices up towards the €100m mark. This new confidence in the luxury property market has resulted in a feeling of being back to pre-crisis activity.
The average price for a luxury property is up by almost 0.3% since March and there are strong sings it will continue to grow further towards the summer.
- The average price for a luxury property up by 0.27% since March
- Reinstalled confidence in the luxury property market gives feeling of pre-crisis activity levels
- More properties coming on the market as vendors feel more confident (up 5.2% since March)
Featured Area: SAINT JEAN CAP FERRAT
The pearl of the French Riviera is how Saint-Jean-Cap-Ferrat is better known. Cap Ferrat is also considered one of the world absolute most expensive and luxurious places to buy property. With today’s 94 properties offered for sale at over €1m, the Cap Ferrat’s high-end property market has a value exceeding €1.5bn and a luxury property will costs an average of €12.6m. This exquisite Belle Époque property is on the market for €22.500.000 (click here for details).
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.