PROGRAMME 8
FRENCH RIVIERA

GETTING THERE & CLIMATE

Introduction

The Côte d'Azur or what is known as the French Rivera is situated in the Provence region, located on the South east coast of France, and on the shores of the Mediterranean Sea. Its total length is around 110 kms (70 miles) and runs from St Tropez in the west to the Italian border in the east.

Major places of interest along the coast include - St Tropez, St Raphael, Fréjus , Cannes , Antibes / Juan les Pins , Nice , Villefranche sur Mer , Beaulieu , Monaco / Monte Carlo, Sophia Antipolis & Menton. Inland places of interest include, Grasse , Biot , Valbonne & Vence plus many more small towns & villages.

How do we get there?

By Air
You can fly there via Paris, with Air France. Aerlingus flies from Dublin direct 4 times a week during the winter. From the week beginning of 27th March they fly seven days a week during the summer. Aerlingus also flies from Cork to Nice twice weekly. Unfortunatley tour operators do not travel there anymore.

When is the best time to go during the year?
There are many good times to travel, depending on your preferences.
If you enjoy the heat, the hottest months are June, July and August.
Luckily Nice enjoys an unusual climate. Although the city opens onto the sea, Nice is protected from the wind by the surrounding hills, the Estérel mountains, and the north-western barrier of the Mercantour Alps. The sea breeze gives a mild climate in winter and reduces the heat in the summer!

The Riveria enjoys sunshine 300 days a year and a mild temperature Mediterranean-type climate most of the year.

A rising market.
Prices in the Riviera are constantly rising. There is an increasing high demand for properties, many of which are very expensive.
There are few good quality properties, but many rather badly finished one’s that are much too expensive.

This is one of the most beautiful parts of France, which attracts many Nationalities. It is usually a safe investment for foreigners, since they’re sure to be able to sell on at a higher price and under good conditions due to demand.

PROPERTY INFO

History of property market
Property market has increased by as much as 100% in the last 5 years. Up to 20% increase per annum. An average hosue costing €450,000 could have cost €375,000 last year and €312,000 the year before. This same house might have cost €225,000 five years ago!

Current market trends
Last two years have had 16% increase per annum. There is literrally no land left on the Cote D’Azur, meaning that property prices have really gone up. Ther are strict planning laws (and have been for some time) in the region and lots of green zones.

The rental market is excellent and all year round. There are as many as 10 festivals per year and flats are needed for accomodation.
For a one bed rental you could get as muchh as ¤1000 for 5/6 days in the peak season. All year round you would be looking at ¤550 per month.
The majority of properties in Cannes are appartments not houses.

Average price of a house
€450,000 for 3 bed house

Average type of a property – architectural style
Typical provencal house is stone built, with roman tiles and a pergola. The style of architecture has been influenced by the various assortments of cultures that have been coming to the riviera since thew 1800’s. Lots of English and Russians, particularly aristocrates and wealthy people.

Good places to purchase at the moment
Mougins is always good. Grasse in on the up and up in the last 3 yrs, prices have increased by as much as 100% in the time. What’s happening is the local French themselves can’t afford to buy on the coast so they’ve had to move inland. Grasse used to be considered a bad area but not anymore.

What must you spend for a bargin property?
1 bedroom appartment in good area of Cannes from €130,000

What must you spend for a high end property?
€800,000 for 3 bed house, garden and pool

Have many Irish bought here?
The Irish are buying in the 1000’s. They are the biggest buyers on the Cote d’Azur! (It used to be the English.)

BUYING PROPERTY IN FRANCE

• Luckily for buyers, French property can be much cheaper than in Ireland. However, the property market there has flourished over the past number of years, and to buy along the coast can be expensive.

• The property market has performed well since 1997. Some great bargains are available in rural areas throughout France. However, city and coastal home prices are high, and buyers should expect to pay up to double the price of similar rural properties. French Riviera properties remain the most expensive in the world, while Paris is one of the dearest cities.

• Foreign buyers tend to flock to Paris, the Loire Valley, the South and south-west of France.

• The French like their homes to be new, and new properties are widely available throughout the country. Nevertheless, it is possible to buy old properties in need of renovation for very low prices.

• Property purchase in France is strictly controlled and well regulated.

• Property purchase fees can be up to 10% or 15% of the purchase price in France. Older properties will have higher fees, while new properties less than five years old come with fees of 3 or 4%. Be warned, however, as VAT of 19.6% is included in the purchase price.

• Fees are divided as follows: Notary’s fee: 2-5%

Stamp duty: 0.6% on new homes, 7.5% on old homes
Registration fees: 6-7%
Agent’s fees

• The buyer is responsible for paying both the legal costs and taxes relating to the purchase.

• French mortgages are calculated on personal income, and rentable value will not be taken into consideration.

• Under French law, children automatically inherit a fixed portion of the estate. In other words, you cannot disinherit your children. Therefore, it is vital you consider this when buying with your spouse or partner.

• Indeed, you can affect the course of the inheritance laws through some legal remedies, and eventually let your spouse inherit.

• The purchase will be dealt with by a notaire (notary), the government’s official who represents neither the seller nor the buyer.

• A compromis de vente is drawn up by the notary, and this is the most commonly used form of purchase agreement. It is a binding legal document, and will include both the buyer’s and seller’s names.

• A seven day cooling off period is allowed after the signing of the deed of the sale. During this time buyers can change their mind.

• You should hire a local lawyer to carry out a number of checks before you buy, including any outstanding debts on the property.

• If you sell your French property within two years of buying, the taxes are punitive.

• Foreign buyers should beware! They often overspend on renovation, because they get carried away with the possibilities…

• Another factor to be noted - most property owners will not be able to recoup renovation costs by renting out their home.

• Home improvement in France is notoriously problematic, and while properties in need of renovation will be much cheaper, you should factor in renovation costs of double or three times the purchase price.

• Building, plumbing and electrical service are generally more expensive than in Ireland. The standard of new buildings is well regulated, while the quality of renovation will vary from builder to builder.

• It is generally easier to employ an English speaking builder or architect with experience of working in France if you are living in Ireland. However, if you are already living in France, there is no reason why you shouldn’t hire a local builder.

• If you are buying an older property, check to see what sort of work is needed, and the likely costs before you buy, and get the property checked by a surveyor.

• For major renovation, use the services of an architect. Also, for major changes or extensions you have to apply to the local mairie for the necessary planning permissions.

• French planning is more concerned with the external appearance of buildings, while the interior details are more or less left to the house owner.

• Permission is required if a change of use of a building is intended.

• Rules regarding protection of conservation areas and historic buildings in France are stringent.

• Open-air swimming pools and certain minor extensions or alterations do not usually require the full planning permission - Permis de Construire. However, a less convoluted permission is needed.

• If you wish to convert a barn to a gite you must receive planning permission. Ask an architect to design the conversion and lodge the application with the local authorities. This usually takes two or three months to get a decision.

• If you buy a plot of land to build a home, you must obtain a certificat d’urbanisme (town planning certificate) from the local authority. You will then have to sign either a Compromis de Vente or a Promesse de Vente. When you own the land and have draft building plans, you must then apply for planning permission at the local mairie. You have two years from the granting of the planning permission to begin building.

• A less convoluted planning permission is also needed for installing a caravan on your grounds, provided the caravan is less than 35sq.m in size.

• VAT has been reduced from 19.6% to 5.5% for those looking to carry out building works (other than construction or reconstruction work) on dwellings more than 2 years old.

• All principal private residences in France are exempt from French CGT.