Although there are strong global ties to similar circumstances in the US for example, it is difficult to name one factor, and often the reasons are false or the buyers have been mislead.
Some key points include:
- A strong Euro currency
- High interest rates
- Ridiculous prices on the Riviera
- Increasing interest rates
- A glut of properties in general
- A scarcity of decent properties
- An impression that 'the bubble will burst'
Similar to Florida, the Riviera is a haven for sunwoshippers, retirees, the wealthy, conventions and the nautical crowd....just to name a handful of its diverse community.
Whilst most of France may be descending in value or price, the Riviera holds its value well - little constructable land available, a high demand, excellent transportation and security.
Imagine you have just retired in Europe. Most will settle and live where they lived or worked.
Some will have a disposable income, perhaps travel for a year, then settle.
Some will have assets, perhaps a secondary residence in their capital or a holiday home nearby.
Those with a larger pension plan may have opted for the South of Spain, Portugal, Greece - where the climate and lifestyles are agreeable, but where the infrastructure is wanting in many facets.
And for those with the best choice financially, they will choose the South of France for its diverse activities, quality of life, access et al.
Thus already we can see one small community who will not be diminishing their purchasing power on the Riviera in the immediate future.
As their demand on criteria, access and location are often exact and limited, they will purchase what is available, often at the price asked - or risk waiting several years for another opportunity to arrive.
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