The Côte d’Azur continues to captivate buyers globally with its prime residential opportunities.
Here, we explore the key findings of Savills Côte d’Azur Prime Residential 2024 Market Report, which recently released statistics, pricing, and expert insights into this prestigious real estate market.
Savills is a global leader in real estate services, renowned for its extensive market knowledge and commitment to excellence. Savills French Riviera offers a diverse range of luxury properties, supported by expertise and a personalized service, making them a trusted name in the industry.
Whether you’re seeking a primary residence, a second home, or a lucrative investment property, the French Riviera presents an unparalleled blend of lifestyle and investment potential.
Cote D’Azur Prime Residential 2024
Savills French Riviera Prime Residential 2024 Market Spotlight offers a detailed analysis of supply, demand, and market trends for both sales and rentals on the Côte d’Azur’s luxury real estate market.
The French Riviera has long attracted both domestic and international investors thanks to its blend of high-end lifestyle opportunities, scenic beauty, and exclusive neighborhoods. The spotlight highlights activity within the top segment of the market, particularly for properties valued over €5 million, driven largely by international buyers.
This segment’s strong performance highlights the enduring appeal of the Côte d’Azur as a premier investment destination. Compared to other leading European luxury markets, the Côte d’Azur offers competitive real estate prices, which further enhances its attractiveness for investors looking for properties that are likely to preserve and grow in value over the medium to long term.
Joie de Vivre Index & Prime Real Estate Spots in the Côte d’Azur
The French Riviera, stretching from the Saint-Tropez area to the Italian border, has been a top destination for almost two centuries. Known for its luxurious lifestyle, the Côte d’Azur attracts a diverse global clientele with its blend of leisure, connectivity, and enduring international reputation. The region’s varied cities, towns, and villages each offer unique appeals, from vibrant nightlife to serene coastal living.
The Savills Joie de Vivre Index evaluates 60 global prime locations based on residential property quality, lifestyle amenities, hospitality, connectivity, and international prestige. This highlights the diverse and attractive nature of the French Riviera’s destinations, each catering to different buyer preferences. The Côte d’Azur’s prime property prices vary widely, reflecting the unique characteristics and desirability of each location.
Pricing across the Riviera is as varied as the locations themselves. Selected locations, along with larger and rarer properties, can achieve prices in excess of these figures.
Saint-Jean-Cap-Ferrat
Average Price Per Square Meter (€): 11,000 – 45,000
Joie de Vivre Index: 41
Saint-Jean-Cap-Ferrat, known for its discretion, is seeing a diverse mix of buyers from Europe, the US, and beyond. The market faces a scarcity of available properties, but interest is high, driven by owners capitalizing on long-held assets and developers revitalizing older properties. Prices range from €7,000 to €20,000 per square meter for apartments, and €50,000 to over €80,000 per square meter for premium waterfront estates.
Roquebrune-Cap-Martin
Average Price Per Square Meter (€): 11,000 – 37,500
Joie de Vivre Index: 29
Roquebrune-Cap-Martin offers Mediterranean charm and luxury living, attracting high-net-worth individuals seeking exclusivity. Prices reflect its prestige and limited supply, with prime properties reaching €50,000 per square meter for the finest estates.
Cannes
Average Price Per Square Meter (€): 7,500 – 35,000
Joie de Vivre Index: 38
Famous for its film festival, Cannes offers a glamorous lifestyle with upscale amenities. The property market remains robust, and is largely driven by international buyers. Average prices for prime locations range from €7,500 to €35,000 per square meter.
Saint-Tropez
Average Price Per Square Meter (€): 8,000 – 32,500
Joie de Vivre Index: 41
A playground for the rich and famous, Saint-Tropez sees high demand across a limited inventory, which helps to maintain elevated prices. The market thrives on its reputation and vibrant lifestyle, with prices ranging from €13,000 to over €30,000 per square meter.
Cap d’Antibes
Average Price Per Square Meter (€): 11,000 – 30,000
Joie de Vivre Index: 28
Known for its historic villas and modern luxury properties, Cap d’Antibes combines a prime location with stunning views. Prices here reflect the town’s desirability, with top properties exceeding €50,000 per square meter in high-end locations.
Villefranche-sur-Mer
Average Price Per Square Meter (€): 12,500 – 31,000
Joie de Vivre Index: 33
The picturesque setting and charming old town of Villefranche-sur-Mer attracts both local and international buyers. Prices range from €11,000 to €33,000 per square meter, driven by its exclusivity and unparalleled ocean views.
Beaulieu-sur-Mer
Average Price Per Square Meter (€): 14,500 – 25,000
Joie de Vivre Index: 28
A pinnacle of luxury on the French Riviera, Beaulieu-sur-Mer continues to see steady demand from discerning international buyers. Prices range from €11,000 to €40,000 per square meter, a reflection of its historic charm and exclusivity.
Cap d’Ail
Average Price Per Square Meter (€): 8,000 – 22,000
Joie de Vivre Index: 29
With its close proximity to Monaco and beautiful coastal views, Cap d’Ail offers a popular destination for the wealthy. Prime properties range from €10,000 to €22,000 per square meter, driven by its global appeal and limited availability of residences.
Ramatuelle
Average Price Per Square Meter (€): 8,000 – 18,000
Known for its beautiful beaches and exclusive properties, the coastal town of Ramatuelle sees high demand from wealthy buyers who are seeking a life of luxury and privacy. Prices here range from €13,000 to over €30,000 per square meter.
Mougins
Average Price Per Square Meter (€): 6,000 – 17,000
Joie de Vivre Index: 23
Mougins, with its artistic heritage and scenic landscapes, attracts buyers looking for a blend of culture and luxury. Prices in this exclusive locale range from €7,000 to €17,000 per square meter.
Èze
Average Price Per Square Meter (€): 8,000 – 16,000
Joie de Vivre Index: 35
Èze offers breathtaking views across the Riviera, and exudes the romance of its historic charm. Prime properties range from €15,000 to €20,000 per square meter, with prices reflecting high demand and limited availability.
Nice
Average Price Per Square Meter (€): 10,000 – 16,000
Joie de Vivre Index: 44
Combining urban living with Mediterranean charm, Nice attracts a wide range of buyers. Prices range from €10,000 to €20,000 per square meter, with premium locations exceeding €20,000 per square meter.
Seizing Investment Opportunities in the French Riviera
Real estate investment in the French Riviera reached an impressive €2.1 billion in 2023. This dynamic market has shown remarkable resilience and potential for growth, making it a perfect time to consider investing in this luxurious region. Property prices, which rebounded by 12.7% in 2021, have since stabilized with a growth of 1.3% in 2022 and 1% in 2023. However, prime residential prices vary significantly by location, with some areas experiencing price increases of over 10% in 2023.
Strong Potential for Rental Income Potential
The French Riviera offers lucrative opportunities for rental income, attracting both short-term vacationers and long-term renters. The region’s appeal to tourists and long-term residents supports a diverse rental market and sustains the potential for high rental income. This consistent demand for rental properties, which are in relatively limited supply, guarantees robust yields for investors. This makes it an attractive option for those seeking steady income streams, and also offers the potential for beautiful second homes in a prime location.
An Area of Consistent, Resilient Growth
The period from 2019 to 2023 saw notable increases in both average price per square meter (PSM) and the total value of properties. PSM increased from €13,135.19 in 2019 to €15,099.06 in 2023, a rise of approximately 14.95%, while the sum of property values grew from €2.1 billion in 2019 to €2.4 billion in 2023, an increase of around 14.29%.
In 2022-2023, average PSM rebounded from €11,387.55 to €15,099.06, showing strong recovery and rising demand. Within this period the sum of property values also rose significantly from €1.8 billion in 2022 to €2.4 billion in 2023, indicating strong market recovery and increased high-value property sales.
Invest in the Luxury and Growth of the Riviera
The French Riviera remains a beacon of luxury and investment potential. With its impressive market conditions and promising long-term growth, the region’s real estate market is characterized by high demand and limited supply. This represents both a stable and lucrative environment for investors looking for a primary residence, a second home, or a profitable rental property.
Savills, with its specialized market knowledge, is your ideal partner when it comes to navigating the Riviera’s real estate landscape. Their personalized service will help to ensure that your investment is both successful, and tailored to your unique needs. To explore the full range of stunning residential properties for sale in the French Riviera, visit Savills listings
