Looking ahead to the 2024 property market
What are the main trends to watch in the French Riviera property market in 2024.
The French Riviera real estate market is ever evolving and our diverse network with a team of over 50 helps us keep our ear to the ground for changes, trends, evolving options, and some stimulating requests. With the close of 2023 providing both insights and statistics, I thought it useful to share with you a selection of key market trends that I believe will carry through to 2024.
However, a discussion of trends and expectations for the year ahead is incomplete without acknowledging the current market conditions and the range of factors affecting political, financial and geographic elements of our activity. We continue to monitor activity across all markets and look forward to sharing our forecasting and market analysis in due course. For more data on global markets, consult our dedicated global research pages from Savills.
To discuss the topics below in greater detail or to start your property search today, please don’t hesitate to contact me and I would be delighted to discuss your project and how the dedicated team of Savills can help you get moving.
The draw of Monaco.
Proximity to and ease of access to the principality is still key, as is the reverse with Monegasque residents looking for French homes with greater space and facilities to entertain and unwind. One to watch, so take some time? to explore a range of properties bordering the principality.
Sustainability
A growing number of buyers are asking about energy efficient materials, construction techniques and eco-friendly options for fuelling their homes. This is a growing trend and one many new developers are incorporating to ensure future generations can profit from current design and planning. I am looking forward to seeing the innovation in this sector in the months and years ahead.
The appeal of investment
The attraction of the Riviera is eternal and for good reason, not only is the area still attracting interest from buyers overseas, but other parts of France are seeing the longevity of the local market and the appeal of holidays without a long-haul flight. Explore a range of properties that would make an ideal holiday home in Saint-Tropez perfect for the beaches or further inland, making the most of the Riviera countryside.
Seasonal Rental is here to stay
Seasonal rentals is a big business and growing. The investment interest and potential of the Riviera Real Estate market is also targeted towards the second homes market, a growing sector of activity for the seasonal rental market, one that is expanding year on year. The latest research from Savills regarding Global Second Homes highlights the Côte d’Azur as the leading region for such activity.
Digital and innovative practices will continue to push the industry
The Covid-19 pandemic really pushed the industry to innovate which was a long time overdue, and the result is we are seeing more and more innovative tools, mainly digital applications to boost awareness of properties for sale, facilitate searches, viewings and purchases at distance plus speeding up the buying process. The Savills team recently sat down to discuss the opportunities for technology in Real Estate and it’s a pleasure to share the interesting insights here.
2024 looks like another interesting, dynamic year for Riviera real estate and a year where we will be kept on our toes but a year where we will be looking forward to helping lots of clients, new and old, to make their next move on the Riviera.