Despite steady demand for property up to 200,000 euros, Cote d'Azur has always been and will be an elite area. Compared with the peak of 2007 meters prices Riviera amended, and Still, many sellers prefer to hold the house than to make significant concessions.
Cote d'Azur does not lose the magic appeal in the eyes of Russians, with a time of crisis the share of buyers from Russia and the CIS in the total amount of requests and transactions with real estate has only increased. Stable demand villa in Cap d'Antibes, Cap Ferrat, Cap d'Ail, Villefranche-sur-Mer and Saint-Tropez, and apartments in Cannes and Nice.
On the coast you can find listings of all types - from economic housing cost about 200,000 euros to superroskoshnyh villas in the tens of millions. More or less massive demand falls on the segment of the business class, that is, objects valued at approximately € 1 million. Buyers willing to pay several million euros, of course, smaller, but it is for them to Cote d'Azur most valuable.
"Approximately half of the requests from Russian clients wishing to buy luxury properties abroad, falls on France - says Director of the Department of elite real estate Knight Frank Elena Yurgeneva. - While budgets were considerably reduced and the range is currently between 5 - 10 million euros. "
Bargain
"In the south of France, a hard drop in prices as, say, in London, has not happened - says consultant at Property Vision Daisy Swain. - The crisis has only slightly modified the expectations of sellers, since the number of quality proposals in this market is limited, and owners who need to quickly sell the home, a little. To a greater extent of the crisis appear to reduce the number of real estate transactions. "
"Falling prices in response to the crisis was not over 10 - 15% - said the managing director of Lowell Finance Kirill Dolginskiy. - The issue price is closely linked with the term of exposure. For such highly objects as apartments in Cannes and Nice (their term exposure, usually no more than a half to two months), prices have fallen very little. When talking about objects of the $ 3 - 5 million euros with a term exposure from year to year and a half, then much depends on the motivation of the sellers. French property owners in the majority prefer to remove the object from the auction at any time, than to give a price. If the property belongs to the owner of Britain or another European country, which has financial difficulties, the price may decline substantially in the negotiation process. "
According to CEO RafinadHome Olga Borodina, the belief that real estate on the Cote d'Azur fell form the local realtors who are trying to attract new customers: "The market began to fall objects of inferior quality and therefore cheaper. And the most expensive, designed for "Potanin-Abramoviches, not advertised. If before requiring restoration of the objects exhibited only after overhaulwell, now offers a lot of houses that still need to invest additional funds, which creates the impression of a general decline in prices. "
Popular Searches
Before the crisis, the main buyers of real estate on the Cote d'Azur were the British, who now virtually gone from the market, while demand from the Russians remain high.
"According to our observations in the first nine months of this year, Russian buyers - one of the most active on the Cote d'Azur, along with the French and Italians - says Kirill Dolginskiy. - The greatest demand among Russians use the apartments costing up to 500,000 euros, as well as the home of 1 million to 3 million euros.
"Most often asked real estate to 200 000 euros, but for the money to buy anything is impossible. From this amount, the price will start at the studio - and feasible options tend to cost from 250,000 euros, it will be flat is in Cap d'Antibes, and at the Antibes or Nice "- Olga Borodina.
For example, a studio area of 22 square meters. meters with a terrace of 9 sq.m.. m in low-rise complex in Villeneuve-Loubet near Antibes on sale for 213,000 euros. The complex is located in a quiet location near the beach, overlooking the sea, in a garden with a swimming pool.
A typical proposal with a budget of up to 1 million euros - a two-level villa area of 180 square meters. m with sea views and the city of Nice. Year Built - 1986, good condition. At the site in 1340 square meters. m, there are heated swimming pool, garage, parking. A house worth 930,000 euros, the amount of annual property tax - 2700 euros. It is worth noting that the asset value of more than 770,000 euros, there is also a progressive tax on luxury, but with proper registration of the transaction from it can go.
"Many are pushing to purchase relatively low cost of borrowed money - adds Kirill Dolginskiy. - We have floating rates of French banks, with whom we work directly - from 2,8% per annum and fixed - by 3,4%. In this case, you can finance up to 80% of the appraised value. Many people purchase real estate without taking away the major means of trafficking, or placed free funds to deposits in Russian banks, with no problems getting funding for it in France. "
Private sales
Some sellers on the Cote d'Azur prefer to do without advertising such transactions occur, they say, "out of the market, in private.
Russians often exhibit a purely speculative interest in the local real estate and, coming to rest, view on sale items more out of curiosity rather than for specific purposes. "The French are so tired of this idle interest that many offer real estate only after the certificate will induce a potential client's solvency, or atluchiv recommendations from agents or those who have already bought property here, "- Olga Borodina.
"Recommendations often come from credit institutions, which have their own customer bases - adds Cyril Dolginskaya. - Mostly banks Monaco, Luxembourg. Objects "out of the market" is not more than 10% of the total, and often have unique characteristics. However, these transactions become less, because most of this segment is aimed at European buyers, and their number decreased. Russians have also bought a very expensive real estate or facilities available to the public. "
Daisy Swain believes that the transactions "out of the market" in the south of France is very small: "the asking price in this region are often overstated, and in cases of private sales is even more difficult to agree on a reasonable amount if the owner himself has overestimated the quality and value of their homes."
Projections and Trends
Market professionals agree that the real estate Riviera is no longer drops in price - on the contrary, will grow by 3-5% per year. "If you want to buy a house on the Cote d'Azur, it is best to do this winter and autumn, - advises Olga Borodina - since the spring of unsold objects leave the market: in the summer of owners prefer to make a lease or own a rest in the villas.
Despite the decline in total transactions, some potential buyers of objects stored on a waiting list. As an example, Cyril Dolginskaya leads low-rise apartment complex in Mandelieu, on the seafront, close to the hotel: "Studios are worth about 500,000 euros, but they are not in stock. The cost of apartments with one - three bedroom - from 750,000 to 1.5 million euros, and people sometimes three or four years are on the waiting list. "
One of the latest trends - the purchase of houses to the west of the C
Marina Shonia
