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As an individual or professional looking to grow your real estate portfolio, the Côte d’Azur has plenty of assets to draw your attention.
You are quite right to take an interest in this region of the South of France, since it is not only attractive from an economic perspective, but also enjoys an ideal geo-climatic position. Through this publication, we’ll try to determine what the best solution for is for your needs: in what circumstances is it better to rent or buy?
The advantages of renting
For a first real estate project on the Côte d’Azur, you can choose to rent. There’s no shortage of arguments for renting: first, the Mediterranean Sea coastline’s favourable climate. The Côte d’Azur enjoys exceptional year-round sunshine (particularly from May to June and September to October, with temperatures that rarely drop below zero.
In winter, for example, temperatures rarely get below 5°C, and can even reach 14°C during the day! To give you food for thought in this regard, we tend to highlight the Saint-Maxime district, between the Massif des Maures and the Gulf of Saint-Tropez, which enjoys a particularly pleasant climate throughout the year. The same can be said of Cannes, which enjoys annual average temperatures in the vicinity of 14.5°C.
Another argument for renting: risk optimisation. This way, you can avoid the risks of a more binding real estate strategy entailing a mortgage as well as the (often long and fruitless) search for a home with suits your long-term needs, not to mention various administrative constraints. Furthermore, renting your apartment or seaside house means you have the peace of mind of enjoying the use of an asset which is equipped to meet your needs. Are you looking for a rental apartment in Nice ? Here is a useful link: haussmannrealestate.com/rental/property
The advantages of buying
Do you have a long-term real estate plan you’d like to turn into reality on the Côte d’Azur? There could be many reasons: as a new retiree, for example, you might want to invest in a pied à terre in the South of France. You might also want to move to the Côte d’Azur for professional reasons, which would naturally draw you towards looking at the centre of Nice, or close to Cannes. If that’s the case, where are the best places to invest in real estate at the present time?
Imagine your investment project involves a new building or a sale before completion. In that case, the PACA region has a number of advantages in every regard! A dynamic region for business, culture and tourism, the PACA region is the undisputed gateway to Southern Europe: four airports, a Southeastern TGV station just three hours from Paris and port infrastructure make the region a strategic destination for you real estate investment projects. Nice, for example, is constantly being reinvented with transport and accessibility works. Many eco-districts are popping up, such as Eco-Vallée, Méridia and Grand Arénas.
Other iconic destinations like Marseille or Aix-en-Provence attract new residents every year. A situation benefiting strongly from solid economic health. The PACA region is considered to be France’s number two economic region, and is home to prestigious companies like Saint-Gobain and DCNS – specialists in the shipbuilding industry.
In other words, if the real estate market in big cities like Marseille, Nice or Toulon strikes you as exorbitant (nearly 4240 Euros per square metre!) more affordable assets are within reach in the uplands. For example, an apartment or a house for less than 2770 Euros per square metre is possible, next to Ecrins National Park (parc national des écrins) and Digne-les-Bains
Rent or buy? It all depends on your goals
Now that we have looked at the different advantages of renting and buying on the Côte d’Azur, you need to make a decision based on your personal situation and the nature of your project. In reality, if you are still unsure which path to follow, remember there are no better options. Take time to reflect, and learn to better identify your needs by asking yourself a few crucial questions. For example, do you intend to invest in a property to lease it out, or to buy it? The answer you provide will determine the rest of your course of action.
If you decide to rent, remember that rental income can be used to pay back your initial investment. Take the time to choose the ideal property, because once the lease is signed, you have a special contractual relationship for which you and your lessee are responsible. If, on the other hand, you decide to buy, think about all the questions related to the nature of your asset: Do you need to plan for improvements or insulation? Does the property’s orientation suit you? What are the conveniences, for example in the case of an apartment? Are the common spaces well-maintained?
If you are thinking of investing in a secondary residence, the questions linked to the property’s orientation and location could have particular importance. Indeed, you plan to live in your apartment during your holidays or over summer, so it’s natural to look for the best location, close to services and the beach. An apartment on the top floor of a shared propertiy having a view of the beach would definitely have an impact on your decision, provided you have the necessary financial resources.
We have now reviewed the different advantages and disadvantages of rela estate investment on the Côte d’Azur. As you may have noticed, the PACA region has many good reasons to encourage you to take the step into renting or buying an invesment rental property. To find the property that matches what you are looking for, the best method is to get in touch with a real estate professional with an excellent knowledge of the area and local economic realities.