French Riviera Property

3 reasons Brits buy property in France, in spite of Brexit.

After the initial shock of Brexit, British buyers have returned to their favorite destination, the Cote d’Azur; and while uncertainty reigns at home, the French Riviera is providing Brits with three certainties when it comes to buying property in France.

1.) Fixed LOW interest rates

With the availability of a fixed interest rate of under 1.5%, French banks are essentially offering “money for free”. Although British buyers may have the cash in the bank for a mortgage-free property purchase, it can make more sense to leave that money invested, and apply for a French mortgage at 1.5% or less.

Many British buyers have done just this, coupled with a short term rental strategy which is an excellent option on the French Riviera due to the high demand for congress rentals in Cannes, and holiday rentals throughout the region. This short term rental income covers part, if not all of the monthly mortgage repayments, giving property owners a working Euro investment that they can also use and enjoy with family and friends whenever they want to. It’s a win-win.

2.) A Euro based asset to mitigate GBP exposure

Over the last 3 years, British buyers have been looking to the French Riviera not only for the sunshine, but also as a means to mitigate their currency risk. In essence, British buyers have found comfort in having a real estate investment in Euros, while Sterling seems insecure.

3.) And of course, sunshine…

Since Victorian times, the South of France has attracted British buyers for one steadfast reason; the climate. In Cannes, where Fine & Country is based, the British influence is distinct. Roads such as “Avenue Roi Albert” or “King Albert Road” pass through the prestigious neighbourhood of La Californie. La Croix des Gardes to the West of Cannes is peppered with villas previously owned by British aristocracy. The main seafront boulevard in Nice named “Promenade des Anglais”, or “the way of the English” was built and funded in 1820 by a British gentleman, Reverend Lewis Way. In 1882, Queen Victoria started visiting the Cote d’Azur like so many of her countrymen, to enjoy an escape from the cold British winters. And so the 200 year long love affair of the British with the French Riviera continues, in-spite of Brexit, and now for reasons not limited to the sunshine and climate.

* With over 18 years of experience on the French Riviera, we have established trusted partnerships with English speaking mortgage brokers, currency experts, lawyers, banks and more; all of whom we would be delighted to introduce you to. In short, we offer an in house turn-key property solution on the French Riviera, including a full buyers search service, accompaniment through the entire purchase process, property management after purchase, and rentals.

We look after your property investment on the Cote d’Azur, as if it were our own, and if you want to hear it straight from the horse’s mouth, this is what Guy M. had to say; “Fine & Country provided an excellent service whilst looking for and purchasing an apartment in Cannes. As an overseas buyer, their assistance in the properties’ integrity, along with legal and financial services, was invaluable. I would use Fine & Country for any future purchase or rental arrangement in Cannes.”

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