The wealthiest people in the world have traditionally made their money in the big cities around the globe and then spent it at their favourite retreat locations.
The French Riviera is no exception when it comes to attracting wealth and is one of the world’s most exclusive destinations for luxury second homes.
In fact, this stretch of Mediterranean coastline has served as a winter retreat for the affluent from as far back as the late 18th century and continues to remain one of the most desirable locations for second home ownership, attracting the global elite.
Buying into real estate in the French Riviera brings with it the promise of luxury, of beach-front properties and marinas, of high-end retail, prestigious social events and fine-dining restaurants. However, the appeal of property on the French Riviera extends far beyond the promise of glamour and extravagance.
The stable real estate market coupled with a low pool of stock and a high demand for properties in this region make it a very attractive investment destination. While the yield on investment in the super-prime markets may be negligible, short-term rentals can make the location more attractive to investors.
The short-term rental market in the less exclusive cities such as Cannes and Nice is in high-demand. Prime properties here are cheaper than in a city like Antibes and buyers can own a second home and use it to generate income from short-term letting during festivals and holiday periods.