Realistic Motivations to Buy Property in the French Riviera

Let the truth be told...the effects of global warming are clearly evident now.

As the world recently watched in horror and disbelief the fierceless destruction of Hurricane Sandy as it tore through the eastern seabord of the United States, the effects of global warming can no longer be ignored. It is the unfortunate reality we face globally and one that will affect future decisions we make.

When it comes to real estate, weather is a realistic motivation.  Whether (no pun intended) you are considering buying a vacation property or primary residence abroad such as  the Carribean, Tahiti, or any other destination, considerations with the changing global climate should be included in the decision making process of your real estate investment.

Factors like frequency of storms or hurricanes and harsh seasonal weather are things that will eventually affect your real estate investment.  Obviously, a property located in a place that undergoes frequent harsh seasonal weather would probably require more repairs and conditioning (new paint, wood treatments, mold, etc).  It is not to say that you shouldn't buy real estate in tropical places, rather it is more about taking a step back to further consider where you purchase and what your purchase.  A dream house on the beach in one place might be more vulnerable than somewhere else, or perhaps a condo might be less maintenance than a house in a tropical climate.

There are many wonderful places to live or vacation in the world, however we just need to be a little more savvy these days.

Sunshine 300 days a year

The French Riviera has always been known for its year long pleasant and weather.  It is one of the reasons throughout its history of why so many people were drawn here. A true Mediterranean climate with dry, hot summers and mild winters, sunshine averaging 300 days a year and 4 distinct seasons, spring, summer, autumn and winter to enjoy.

Temperatures in the hot season from June-September average above 24˚C(75.2˚F) and in the cold season average below 15˚C (59˚F), which makes for perfect skiing weather. www.weatherspark.com

The French Riviera does experience the strong cold winds of the Mistral which tends to be the strongest in winter and sometimes in spring and can get up to 100km (62miles) in velocity lasting a few days.

In respect to rainfall, moderate precipitation is most common type of rainfall during days with precipitation with thunderstorms more common in the warm season precipitation.

Although the French Riviera is not immune to the effects of global warming, it is definitely a place that has a more stable weather pattern all year long, and that is an added value to any property investment made here.

Destination Investments: Riding the best waves of the economic tide

During uncertain economic times, investors and potential buyers in the real estate market might have certain doubts about the timing of their purchases and investments. Naturally, buyers want to feel secure about what they are buying which is why destination investments in highly touristic places such as the French Riviera, can ease buyer concerns as the markets play out their cycles.

While the waves of the global economic crisis continues to ripple throughout the world's economies and European leaders forge ahead in the battle of the European sovereign debt crisis amidst fears of a global recession, gleams of a silver lining have appeared this week at the annual World Economic Forum in Davos.

For some, the crisis does not pose a threat, but rather a prospect. "A survey of 800 business leaders in Asia, the Middle East and North America by FTI Consulting found that 45 percent of companies in Asia are either executing or looking to make acquisitions in Europe in the next 12 months, compared with just 14 percent in the Middle East and 7 percent in North America." (Reuters, January 25, 2012) This suggests that Europe is still viewed as a leading place for investing over other leading continents, and emerging markets.

GOOD PRODUCTS GO A LONG WAY

As Apple reported their astronomical first quarter results for 2012 of $46.33 billion and revenue with 37.034 million iPhones sold, it can be simply said that a good product with a strong brand can resist an unsteady economic tide and in the end, come out on top.

The French Riviera, one of the world's most popular tourist destinations, known as the playground to the rich and famous with renown world-class events such as the Cannes Film Festival and the Monaco Grand Prix and host to 50% of the world's superyacht fleet yearly, not to mention 300 days of sunshine with beautiful azureen waters and chic beaches, is one of the reasons why this destination real estate market along Cote d'Azur has also come out on top during an unnerving economic period.

In a recent interview in the Nice Matin (18 Janvier 2012), the regions primary daily newspaper, Nice Properties' general manager, Michael Fusaro, explains that the French Riviera continues to have a demand for quality products in real estate and describes it as a "sacred address". He further mentions that foreign investments represent half of their real estate sales.

The continual demand in the Cote d'Azur has also been recently reflected as new expansion plans were just released to augment the Nice International Airport, France's 2nd largest airport, by adding a third terminal to accommodate an estimated 12.5 million passengers. (See article Extension de l'Aéroport de Nice: les réactions from Nice Matin).

With a picturesque 71 mile coastline of nothing but marinas, beaches, golf courses, gourmet restaurants, ski resorts and 300 days of sunshine...no worries!