Short term letting of properties

[Ethan1971]

Hi, I am new to this forum and am looking to buy a property (3 bedrooms) in the Cote D'Azur within an hour and a half of Nice Airport. It will be for family holidays and holiday lets. Has anyone got any advice on which areas of the region seem to have good occupancy rates and also on the current state of the property market.

Thanks

[Sprogster]

Welcome to the forum. Not sure you will get much of a response, as few members of this and another similar French forum I participate in, seem to live in the area you are interested in. Maybe, because of high property and living costs.

What is your budget and are you looking for a house or apartment? To be competitive as a family holiday let you need to have a minimum of three bedrooms and be within an hour of Nice airport max, near the beaches and amenities. That puts you in one of the worlds most expensive areas for property between Menton and St Tropez, and you therefore need to be budgeting well over a million euros for a villa with pool with sea views, and in excess of 600k for an apartment. (Property purchase costs are very high in France as compared to the UK and can add 16%+ to the price.)

The property market in these areas has been down about 20% but was showing some signs of recovery last year, before the eurozone crisis blew up. The situation now is that property at the bottom and middle end of the market is difficult to sell, but the top end on the coast are less effected, as those tend to sell to very wealthy international cash buyers like the Russians. (Obtaining mortgage finance for a second home in France is currently very difficult, especially if a foreign buyer.)

Just a word of warning, that the holiday rental market in this area is very seasonal and short lived, being mid June through early September. The possible exception being if you had an apartment in central Nice.

Last but not least, average winters on the Cote D'Azur, are much longer, colder and wetter than many Brits realise, so if you are expecting a warm winter getaway, think again as you are not sufficiently far south! (This mild winter so far has been a rare exception.) Also other than the big towns like Nice and Cannes, the coastal area tends to shut down in winter, with most residences second homes, to the extent that finding an open restaurant can be a challenge!

[Ethan1971]

Thank you for the reply I was really considering down towards Port Grimaud or an area that could take advantage of the Bay of St Tropez. I think that it may be a bit to far from the airport (especially with the summer traffic).

The main idea for the post was to get some suggested areas so I can plan a bit of time to take a proper look on the coast and get an idea of cost and location.

I think that it looks like another rental in Nice with a few pins in the map around that area to see what is available locally and maybe slightly inland.

[Sprogster]

I would recommend that you look along the coast between St Raphael, Frejus, St Aygulf and Ste Maxime, all of which are a comfortable hour from Nice airport and on the Gulfe of St Tropez. Any further west towards Port Grimaud and St Tropez and you get caught up in the summer gridlock traffic. (That is why the wealthy helicopter to St Tropez!) 

However, as I mentioned before, this area is dead in winter and you are not going to get any change from a million euros for a half decent villa and pool with sea views. Port Grimaud is lovely, but very popular and therefore expensive for small provencal style town houses and studios. (again don't expect change from a million for a three bedroom townhouse with small marina berth.) The nearer you get to St Tropez the more the prices increase to the extent that you are talking about multi-millions these days for properties in Ramatuelle.

If regular winter visits anticipated the Cannes and Nice area might be a better alternative.

[Ethan1971]

Thanks again - will have a good look on line at those suggested areas to get a feel for it. Then properly investigate with a visit.

We have holidayed regularly in both Port Grimaud and Nice but not really investigated in towns in between.

[Sprogster]

I don't think you can go far wrong with Port Grimaud as a rental investment, especially if you buy an adjoining 10m+ marina berth, as there is a shortage of marina births in the area and they can be easily rented. However, there are a lot of vendors in the South of France who think their properties are still worth what they were four years ago and are asking silly prices, often on the basis that if they find a mug willing to overpay then great, otherwise they are not bothered if the property does not sell for years! The best way to weed these vendors out is to ascertain from the immoblier how long the property has been on the market and if the vendor has a specific reason for selling to motivate them, like divorce, illness or having bought another property.

Good luck!