Unlike the rest of France, the Côte d’Azur is seeing prices for luxury properties skyrocket. In Nice, we even exceed 10,000 euros per square meter.
When it comes to real estate, the Riviera coast is an outsider. When reading the barometer Coldwell Bankera specialist in this sector, and more specifically in luxury goods, we can clearly see that the dynamics on the Côte d’Azur are different from those in other regions regarding the richest homes.
The study, shared by our colleagues from Capital, covers a period from January to May 2024. It gives us information on prices per square meter in 15 municipalities historically recognized for attracting wealthy people. These houses are valued between 1 and 5 million euros.
Antibes blows up the counters
If the rest of the country is experiencing a plummet in sales, and automatically a fall in prices for residences reserved for the wealthy, this is not the case in the Riviera. Nice, for example, went from 9,667 euros per square meter at the start of the year to 10,360 euros last month. An increase of 7.2%.
A surge in amounts comparable to that of Bordeaux (also +7.2%), but that’s practically all. Practically, since still on our coast, Antibes explodes all records (+22% in five months), becoming even more expensive than the Maralpine capital (from 9,083 to 11,082 euros per square meter).
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Another locality in our territory with clearly increasing prices, Sainte-Maxime, in the Var. With a price per square meter estimated at 10,900 euros in May, it suffered inflation of 4.8% (10,400 euros in January). This is, for example, more than in Paris (+1.1%).
Note that in Lyon (-11.2%), Montpellier (-6.3%) and Nantes (-2.6%), imposing buildings are worth less and less.
