The number of luxury holiday home sales along the French Riviera has experienced a continued boost in August and as a result the property prices have stabilised.
The general feeling amongst French Notaries and Estate Agents is that the property market on the Riviera has recovered better so far in 2011 than during 2010.
The number of properties available priced over €1m on the open market decreased by 3.49% to 7.909 units in August, this is the first time since early 2011 that the figure goes below 8.000 units. Since June the number of units on the market has dropped by 9% due to increased sales.
- The average price for a luxury property has stabilized over the summer season
- Property sales are up 3.49%
- The volume of properties on the market has dropped by 9% since June due to increased sales
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.
Featured Area: GRASSE
Grasse is the perfume capital of the world, with it’s old town and numerous perfume museums it is a sought after town 20 min drive from Cannes. Grasse looks over the surrounding countryside with the Bay of Cannes in the distance. Today there are 316 properties offered for sale in Grasse over €1m which gives a total market value of €717m. A luxury villa here will cost an average of €2.25 million.
18th Century Monastery in Chateauneuf de Grasse
Charming old Bastide from the 18th century, located in a calm area and enjoying a panoramic view across the countryside towards the sea. Entirely renovated and facing due south, this 400m² bastide with bright and large volumes, offers 8 bedrooms, a guardian house and an external gym. 14000m² of grounds with a tennis court, a swimming-pool, summer kitchen, outside dining and lounge area and a pool-house. Parking for several cars.
Asking Price €6.300.000
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.