Buying property in Provence-Alpes-Côte d’Azur
Provence-Alpes-Côte d’Azur (PACA) is the region that covers the southeastern corner of France, with a border with Italy and a long Mediterranean coastline.
It is renowned for its luxury property market, iconic French Riviera and Mediterranean climate. But also for its enviable lifestyle – art, cuisine, cinema, wine… – that has attracted a large international property buying market. Nice’s promenade is named after the English who love it so much and the American market is also large here.
The property market offers a diverse range of options, from homes in the Alps, to traditional Provencal farmhouses to modern villas overlooking the azure waters of the Mediterranean Sea. The region encompasses cities such as Marseilles, Nice, Toulon and Aix-en-Provence.
With the Olympics awarded to the French Alps for 2030 there will be great investment in a region that is already special in so many ways.
Why buy property in Provence-Alpes-Côte d’Azur?
Life in Provence-Alpes-Côte d’Azur is anything you want it to be. The weather is hot, but this is far from being a sleepy sort of location. It is a place that likes to enjoy life.
Moving inland, you’ll discover the Provencal landscape, famous for its lavender fields, olive groves and vineyards. Key destinations include the historical cities of Avignon and Arles, the former a UNESCO World Heritage site known for its Papal Palace, and the latter, the inspiration for Van Gogh.
Nice offers a cosmopolitan lifestyle. Consider properties in the city if you desire a mix of French and international culture along with the beauty of the Mediterranean.
The region is not just about nature and glamour; it’s also steeped in history. Marseille, the préfecture of PACA, is France’s oldest city and home to a melange of cultures. Its vibrant Vieux Port and the iconic Notre-Dame de la Garde are must-see landmarks. Arles has its Roman amphitheatre (as well as one of the best Saturday markets in France).
The Var department is one of six that make up the region. It is home to Saint-Tropez, a famed seaside resort, and the Verdon Gorge, referred to as Europe’s Grand Canyon.
Vaucluse is known for the historical town of Orange, with its Roman theatre and Triumphal Arch, and the Luberon, with its hilltop villages and markets.
PACA includes Alpine departments too, offering some of the best skiing in the world.
Les Baux de Provence
What can you buy for your money in the Provence-Alpes-Côte d’Azur?
Properties in the south of France, particularly in Provence-Alpes-Côte d’Azur, tend to come at a premium. After all, you’re not just buying a property but a coveted lifestyle too.
According to recent data from Notaires.fr, the average resale home in Marseille is €402,100 and in Toulon is €465,200. Apartments in the same areas have an average price per square metre of €3,210 and €2,610. The average price per square metre for apartments in Nice is considerably higher, coming in at €4,780.
The region is home to some of the most glamourous coastal areas in all of France. If it’s luxury you’re after, discover homes in La Colle-sur-Loup, Théoule-sur-Mer, Rayol-Canadael-sur-Mer, Juan-les-Pins and Mougins.
While the PACA property market is renowned for luxury, there are a number of new developments popping up across the south of France at more affordable price points. These developments are often slightly further inland than beachside villas, but still within a short drive of the ocean.
With the Winter Olympics coming to the region in 2030, expect to see investment and potentially rising prices in its main ski resorts.
Steps to buying property in Provence-Alpes-Côte d’Azur
- Define your criteria: Determine what you’re looking for in terms of property type, location, budget and must-have features.
- Research: Use online resources, visit local real estate agencies and explore the area to find properties that match your criteria. Book your place at the Your Overseas Home Virtual Event.
- Speak to a currency expert: Moving exchange rates are a risk in international property purchases, so discuss managing that risk with a forward contract that fixes your exchange rate.
- Legal considerations: Familiarise yourself with the French property buying process, including the role of the notaire, who handles the legal aspects of the sale. Contact an independent lawyer at this stage.
- Financing: Investigate mortgage options if required. French banks offer loans to non-residents, but it’s advisable to compare rates and terms.
- Book your viewing/scouting trip: Download the guide, contact estate agents and book your tickets.
- Making an offer: Once you find a property you like, you can make an offer. If accepted, you’ll sign a preliminary contract (compromis de vente or a promesse de vente) and pay a deposit.
- Completion: The final sale is completed when the acte de vente is signed at the notaire’s office, and the balance of the purchase price is paid.
Costs of buying property in Provence-Alpes-Côte d’Azur
When buying property in Provence-Alpes-Côte d’Azur or wider France, the buyer is responsible for notaire fees, which average 7-8% of the property price (or 2-3% for new homes) and will have to also consider estate agent fees (although often included in the property price) and homeowner taxes.
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