It has been announced that property in our region – Cote d’Azur – has risen in value during 2007 by an average of 8% in 2007, compared to the average throughout France of 4%. This report covers both new-build and older properties.
It’s really no surprise. We live in an attractive region, sunny, with many cultural and sporting activities and thus attracting people from many countries.
There is a shortage of property in this area, particularly new properties, so it is anticipated that property values will continue to increase. It has been noted that homes are kept for longer with the average duration of ownership at 5 – 7 years. Owners are concerned that if they sell they may not find something to equal what they had, so they stay put. This in turn makes finding your ideal property more difficult and will keep the values rising – and maybe continuing to rise at twice the country average.
Some facts and figures are given in my next blog. Come and enjoy the area. Jackie