What is the best season to buy French Riviera real estate? A luxury property as your second home on that sunny Cote d’Azur will for sure add a lovely ‘French feeling’ in your life. If you make the step for a second home on the Côte d’Azur, there are a few steps to consider. And of course, it’s all about timing.
First look at how big your spending budget is, including legal fees. For an existing property, you have to add about 7,6% of the total selling price. These costs are for the dossier at the notary and the taxes for the French state. If you buy new construction, the costs will be around 2,6%. That’s why many people prefer to buy something new, with a secured delivery by the French state and a ten-year guarantee. If you need a mortgage, be aware that for French residents, the banks will lend you up to 70% of the price. For non-residents, this is 60%. There are about 5 banks that accept mortgage requests from foreign people. Ask us to connect you with our banking network. It’s better to be prepared financially when you start shopping.
What is the best season to buy French Riviera real estate?
For new construction, there is no specific season that beats other seasons. If you want the best apartment with the best view and floor space, you have to react fast. In general, new construction in France is sold-out before they start digging in the ground. But for an existing property like that penthouse in an exclusive residence or that family villa with five bedrooms and a studio, things are different. Here you can use the power of the seasons to make the best deal. Will you be best of in buying real estate spring, summer, autumn, or winter?
Buy French Riviera real estate in Spring: much supply and many buyers
It is logical that in the period between late March and late June you’ll find more offerings in the real estate market on the Cote d’Azur. Each seller has its garden in order, fresh flowers are out and the sun is warm. Due to this ideal sales situation, the prices at this time are the highest. On the other hand, on the Côte d’Azur also more rivals active. A selling owner or developer will not easily accept a low bid. In this period you can easily pay too much for an existing home. But if you hesitate too long, then the chances are that someone else buys the property for the asking price. Just because they fell in love with that property in the sun.
Summer investment in Côte d’Azur real estate: the season of negotiation
Much quieter than spring is summer; a period in which sales activity in real estate on the French Riviera drops slightly. The transfer at the notary of sold property often takes place in the summer. This is because most agreements are already signed in spring. As a buyer, you can take advantage of this situation. The slowdown in real estate activity in the South of France is actually a good time to negotiate. Moreover, there are fewer buyers active than in springtime. So you have less competition and you are not rushed to quickly make a bid too high. Plus you have the chance to some properties come back from the bank because signing the final deed at the notary did not come through.
Autumn buying real estate on the French Riviera: buy without competition
From September on, the number of real estate transactions reduces gradually. A great time to make an offer to purchase during the Indian summer and the following months. If the seller puts extra pressure on you to decide quickly, don’t let them make you crazy. It is in most cases bluff. You have all the time to consider an offer and to deliver this when you think the time is right. Exceptions, of course, prove the rule, but autumn is generally a good time to negotiate the price.
Wintertime on the Côte d’Azur: the perfect season to buy real estate in the South of France
Between December and February, the real estate transaction market on the Cote d’Azur is relatively quiet. This is traditionally a period of preparation and in which the seller must make a greater effort to find potential buyers. The winter months are also a good time to look around and negotiate. Take the opportunity to ask for a discount on the sale price.
Where to start to buy French Riviera real estate?
Make a selection of areas where you would like to buy. If you aim to rent out your property, look for the best villages where demand is high. Contact agencies that you know and tell them what you are looking for. They will send you a selection of their properties. You can also choose to hire an independent consultancy that has access to all databases for new and existing properties. For more information on new and existing offers that suits you and your budget, you can contact Living on the Côte d’Azur. We have direct access to the databases of almost all major agents and developers. With our seven days of open service, we look forward to serving you.