Luxury Property Index - French Riviera and Monaco - January 2011

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.

January 2011 Property Report

The luxury property market on the French Riviera and in Monaco is showing a high level of activity with a 5.80% (472 units) of available properties (priced at over €1 million) sold between December 2010 and January 2011.

There is today an impressive 7671 luxury properties for sale on the open market. This gives an estimated market value of more than €24bn (€24,873,928,571), an increase of 0.35% since December 2010.

  • A €24bn property market which grew by 0.35% from Dec 2010 to Jan 2011
  • 90% of the luxury property market on the French Riviera and in Monaco are for homes priced between €1m and €5m
  • 5.80% of properties on the market sold between December 2010 and January 2011
  • Only 1% of the market caters for the super rich buyers with more than €20m to spend

    Number of Villas and Apartments for sale

    chart2

    Featured Local Area: CANNES

    chart3 The seaside town of Cannes is well known for its glamour and celebrities, and is also one of the most prestigious and expensive areas for luxury holiday homes. This month’s featured property is a stunning designer villa in the hills above Cannes, priced at €16.9m (click here for details and photos).

    With today’s 1,247 properties offered for sale at over €1m, the Cannes’ high-end property market shows a value of over €5.5bn. A luxury property in Cannes costs an average of €3.3m.

    Sources: Whilst every effort has been made to carry out independent research using exclusive partners within the local property market, the data cannot be insured by EstateNetFrance.com Research or its partners. Not all the data from the EstateNetFrance.com Research database is used in the monthly calculations. A number of exclusions are carried out to ensure that the final figures are not distorted. For example, properties tagged as sold, are not included and we have allowed for a 40% deduction in the number of units offered for sale to adjust for eventual double listings and delays in database updates from our sources. Even with these exclusions, the index is based on a substantial sample of prime properties for sale on the open market.

    www.estatenetfrance.com