Call our Central Nice office on: +33 (0) 4 93 16 95 81
Login French English
Translate this site in to Russian
Search for French Riviera Property
Apartment Villa/House Only New Builds
divider

Vast numbers of the world’s wealthiest people looking for a secondary residence are heading over to the Cote d’Azur to purchase property, according to a new list of the world’s most successful luxury residential property locations.

As the price of a typical 5 bedroom property here can soar to over 20 million Euros in the most exclusive areas, the region has started to attract the ultra wealthy buyers from across Europe, North America and most actively at present from Russia and the Middle East.

Sardinia’s Costa Smerelda and Monaco both feature in the top 5 places for wealthy buyers, due to Sardinia’s 35 mile coastline with a vast selection of luxury properties and Monaco’s mansions ( there is a currently a 5 bedroom villa for sale at 58 million Euros!)

 

This top floor penthouse could sell for £256m according to one estimate

Russian wealth is one of the main things helping the property business in these luxury locations, with many people buying property in the Mediterranean, the South of France, Italy, and also in the Eastern Mediterranean (for example Montenegro).

Middle eastern buyers are also starting to invest in second home properties, and are purchasing luxury residences in the exclusive areas of the Mediterranean.

‘The growth of Ultra High Net Worth Individuals has fuelled demand for prime secondary residences in exclusive leisure enclaves around the world,’ states Nick Candy, chief executive officer of Candy & Candy who carried out the report.

‘In the same way that we have seen exponential real estate growth in global cities over recent years, we expect to see the same level of growth and property values replicated in the top luxury leisure enclaves where the world’s super rich are choosing to purchase additional homes,’ he added.

‘Location, square footage and finish are the obvious drivers of a property’s value but at the luxury end of the market, there are other factors to consider. Buyers need to have a strong understanding of the legal and tax considerations to ensure they are actually getting what they are paying for. These considerations can vary significantly depending on a country’s regulatory, tax and legal landscape,’ said Balaji Prassana, head of lending and deposits for Deutsche Asset & Wealth Management.

Barnes pointed out that ultimately, it is the combination of global wealth creation and fashion that will determine the next playgrounds of the rich and famous.

I wonder if we’ll see any more A-Listers buying property in the Cote d’Azur? If you’re thinking of buying out here and are searching for something with a smaller budget, take a look at our wallet-friendly properties close to Monaco:

Property in Beausoleil/Monaco