Current Economic Climate 2023

Happy New Year!

As the clock strikes twelve and we say goodbye to the old year, we welcome the new one with open arms and a champagne toast. On behalf of the entire team here, we would like to extend our warmest wishes to all of our clients, both past and present, for a prosperous and successful New Year. As we look towards the future, we're excited to see what the new year brings for the real estate market on the French Riviera.

The Current Economic Climate

The French Riviera is a destination that's hot, not just in temperature but in the real estate market. However, the current economic climate is like a storm cloud looming over the market, with the pandemic causing a drop in demand and uncertainty over Brexit making international buyers hesitant. But, it's not all doom and gloom on the French Riviera. According to recent statistics, the demand for properties in the region remains strong, with many buyers still keen on acquiring a slice of the French Riviera's picturesque coastline and chic lifestyle, even if it means paying a pretty penny for it.

Speaking of pretty pennies, prices for luxury real estate on the French Riviera can make your bank account scream "Mercy!" with some properties selling for tens of millions of euros. However, with the market experiencing a slowdown, there could be opportunities for buyers looking for a deal, as some sellers may be willing to negotiate on price.

Despite the economic challenges, the French Riviera continues to be a magnet for the rich and famous, and why wouldn't it be? With its luxurious resorts, high-end restaurants, and designer boutiques, it's no surprise that the region attracts a wealthy clientele, and let's not forget its cultural heritage, with many museums and art galleries.

In short, the French Riviera's real estate market may be facing some challenges due to the current economic climate, but it's still a destination that's in high demand, and with a little bit of research and some negotiation skills, you may be able to snag yourself a piece of the French Riviera's luxurious pie.

The Nice Homes Team
13th January 2023