Recent trends in the luxury real estate market

News

According to various studies and reports France is again on its way up as a desirable location for foreign investors and luxury property buyers.

France is firmly on the third position as an interesting country, immediately after Spain and Portugal for the international clientele, with especially the Cote d’Azur showing good form,  42% of potential buyers pick this area.

The ‘Macron’- effect seems to have given a good boost, near parity with the American dollar has spurred on the Americans and even the looming Brexit does not seem to deter English buyers.

Budgets seem to be up, the majority (45%) is below 1.5M€, but there are marked increase in the 2 – 5M€ price range (up 9%)  and even higher budgets show a healthy 8% increase!

While these are  promising facts, it is also a good idea to look a little further into what buyers are actually looking for.

The French market is filled to the brim with properties that have been around for a long time; obviously the market requires something slightly different than the majority of  what is currently on sale.

Typically, buyers tend to be younger than 10 -15 ago; with that younger age comes an appetite for a different lifestyle.

These days, people often want to be close to the town centre where the action is, whereas in older days most buyers were looking for the Provencal peace and quiet of the countryside of the ‘Arriere Pays’.

Also, todays affluent buyers cannot be bothered with hosting an array of gardeners and caretakers to keep the property pristine whilst they are on the other end of the world, the property should require minimal maintenance,  and should be easy to just lock-up and leave.

Furthermore, security is high on everyone’s list. An “impenetrable fortress” would be the best, without any risk to major natural disasters (flooding, landslides etc).

On the inside, the main area these days is the kitchen. These should be large enough to actually be able to cook dinner (or have it cooked) with the party of guest sitting around with a natural and easy flow into the garden with large terraces, summer kitchen(s), and lavish pool areas.

Just having a walk-in dressing is a bit limited in the eyes of today’s buyers, they want to have proper dressing rooms, the bigger the better, and preferably lavishly fitted out.

And of course, properties should be light and airy, having vast windows to profit from the views, with wide, open spaces enhancing the feeling of luxury.

All these trends are difficult to actually incorporate into the older Provencal properties of the South of France without having to undergo major restructuring works, or even complete rebuilds.

It is therefore also, that today’s buyers are quite often more interested in contemporary properties where all these elements  – if not already incorporated –can easily be added to the existing property.

tóco d’azur has a good selection of contemporary properties like

Mouans Sartoux

 

Grimaud

Give us a call and we’ll happily show you what we have in store!

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