Globalization has bridged the gap of distance when it comes to real estate. Countries have become more and more connected. Buying and selling is easier to do these days. The recent real estate market that will benefit from the global wealthy buyers is France. According to propertywire.com, "Prime property prices in the world's most expensive cities are cooling which means that wealthy property investors could look increasingly to other cities and leisure hotspots such as the French Riviera."
Despite the sales going down for the past three years, French Riviera is still a real estate magnate for the elite buyers. Indeed, the area that stretches from St Tropez in the south west to the border of Italy is the third richest region in France as stated in a report by propertywire.com.
Even with the real estate prices falling all over France, the Provence-Alpes-Côte d'Azur expanse steadily directs the country's peak house costs. The area also ranks as the second highest apartment prices within the Paris area. The latest French Riviera residential market shows the importance of global tourist market. Statistics shows that 17% of properties are second homes or occasional accommodation, compared to 11% nationally.
It is an occasional accommodation for the elite and the royals as well. French Riviera is a haven of beauty that even the royalty wanted to experience it. According to a report by thejournal.ie, "The Mirandole Beach on the French Riviera, which is usually packed with holidaymakers and sunbathers, is eerily quiet as the stretch of sand has been locked down for the lavish visit of Saudi Arabia's King Salman."
French Riviera's strategic location and prime properties makes it ideal for wealthy buyers. According to a report by propertywire.com, "The report concludes that the French Riviera is a global brand and a destination of worldwide renown and with a long historic reputation."
French Riviera symbolizes the global elite, wealthy, and famous. It is an investment worth investing for.
