From film stars to fashionistas, the French Riviera remains one of Europe’s most coveted second home destinations and the good news for Brits is that buying conditions in 2015 are making it more affordable. Here’s an overview of the hot spots there…

Article written by The Overseas Guides Company

Incredibly cheap mortgages, a favourable exchange rate and a deflated property market make this year an ideal time to purchase property in France, report estate agents there, with the swish French Riviera offering some especially attractive deals.

“Because prices along the French Riviera are comparatively high, given the area’s desirability, a strong Pound often translates to savings of £10,000s for a UK buyer compared to a year or so ago when the euro was stronger,” said Elaine Ferguson, Head of the Resource Centre at OverseasGuidesCompany.com, which assists people to purchase in France. “Using currency specialist Smart Currency Exchange really helps you to get the best exchange rate. Complementing this are France’s cheap mortgage rates – typically 2.5-3 per cent with LTVs of 75-80 per cent. French mortgage rates have a hit record low this year, thanks in part to the ECB’s quantitative easing programme.”

Added Tim Swannie, director of agency Home-Hunts: “It is a unique time for the property market because asking prices have dropped over the past few years and when you put that together with the low mortgage rates and the amazing exchange rates on offer, there has not been a better time to buy in more than ten years and savvy buyers are realising this.”

Properties on the Riviera are estimated to have dropped by around 20 per cent since 2008. Investors can count on a strong rental market too, as with 300 days of sunshine, the Med at your feet and the Alps just behind, it really is a year-round destination.

Looking closer, there are four distinct areas on the French Riviera that stand out for their popularity.

The Valbonne and Mougins area
There are many good and reasonably priced restaurants in this area and the villages are lively all year round. It also has the best international schools and the European Silicon Valley. The enduring desirability of the Valbonne area, including villages such as Opio, Roquefort-les-Pins, Chateauneuf de Grasse and Le Rouret, provide a rural lifestyle combined with easy access to the coast within 20 minutes – Mougins is just a 15-minute drive from Cannes. They have lovely restaurants, excellent local markets and the people are warm and friendly.

Close to Monaco
With incredible views, Villefranche-sur-Mer and Saint-Jean-Cap-Ferrat will always be sought after destinations. Unsurprising, given the bay of Villefranche has been voted the most beautiful bay in Europe, and Cap Ferrat is one of the world’s most exclusive and expensive addresses.

Cannes and Cap d’Antibes
These two fashion spots are well known for their beaches and year-round activities – and remain places to be seen in. Grasse – and its surrounding areas – is currently viewed as a good up-and-coming location to invest in because it is not as expensive as other ‘back country’ Riviera locations. With the new dual carriageway that is going to be built, this area would certainly pick up in value in the future.

St Tropez
The unique atmosphere of Saint Tropez has kept it the most coveted location on the Riviera. However, while the most exclusive properties are still finding buyers, according to Home-Hunts, it is the €1 to €5 million bracket that is currently proving to be the most popular with those looking to buy property there.

More info
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If you are considering an overseas property purchase in 2015, whether for lifestyle or investment, opening a no-obligation account with FCA-authorised Smart Currency Exchange will enable you to benefit from their competitive exchange rates and specialist currency knowledge, ultimately saving you money and time. For more information, download Smart Currency Exchange’s free report or visit the Currency Zone.