Property prices in France
Côte d'Azur, Paris, Provence, the Atlantic coast and the French Alps are the most popular regions for foreign property buyers. Many investors are also going for alternative destinations like rural Brittany, the Loire Valley and Normandy that offer a wide selection of housing: from ancient mansions that need to be totally revamped to modern new builds.
Paris attracts Russian, British and Italian buyers while Brits and Scandinavians head for the sunny south joining the Belgians and the Americans along the Côte d'Azur and Provence.
The Côte d'Azur is a big favourite with foreign buyers. In the most expensive resort there, St-Jean-Cap-Ferrat, apartments cost on average €11,000/sq.m and €17,000/sq.m for houses. Prime property can sell for up to €60,000/sq.m. While housing in Saint-Jean-Cap-Ferrat increased tenfold from 2000 to 2007, Saint-Tropez is no less upscale with flats selling for €9,000/sq.m and upwards of €13,000/sq.m for homes.
France has many ski resorts to choose from with Chamonix, Courchevel, Méribel and Val d'Isère among the most popular ones. Leaseback arrangements work well here, as there is always a lot of demand for holiday accommodation. Courchevel is the most expensive ski resort in Europe and buyers can expect to spend €5M on a five-bedroom house. Soaring prices are underpinned by scarce supply. With only 200 chalets in the resort, there is not enough to go around fuelling intense competition between potential investors. New developments are very rare, so many choose to buy old chalets and turn them into state-of-the-art accommodation with the intention of leasing them out.
Apartment prices in Paris range from €5,600/sq.m to €13,400/sq.m. The city is divided into 20 districts with property in the Fifth (5e) and Sixth (6e) districts ranked as the most expensive, priced at over €12,000/sq.m on average. Foreign property buyers in Paris come from Russia, CIS and the Middle East in search of Haussmann apartments that can sell for over that €1M.