Looking for a property on the French Riviera? A property with good long term investment potential and easy reach of the sea, Monaco, Nice airport and Italy? I think we may have something which is right up your boulevard.....
Beausoleil on the French Riviera adjoins Monaco, making the town a prime place to live for the 40,000 French citizens and ex-pats who commute to Monaco daily.
Monaco property is among the most expensive real estate per m2 in the world with some properties selling in the hundreds of millions.... The comparatively affordable property in Beausoleil continues to attract buyers. The year-round population in the town, which covers 5.5 square kilometers totals around 14,000.
The New York Times recently ran an article and interviewed some of the local agents about the property market in Beausoleil and Monaco -
''“Beausoleil is a great place to invest,” said Catherine Bernard, a local real estate agent. “Three-quarters of Monte Carlo’s work force can’t afford to buy or rent in Monaco.”
“Plus, Beausoleil’s infrastructure is good,” she said, for things like schools and medical care.
The average price of property in Beausoleil is around €6,000 per square meter, or about $740 per square foot, compared with and average around €30,000 a square meter in Monaco. But price is not the whole story, Ms. Bernard said.
“You also get more for your money because in France the price is based on habitable space and excludes areas such as terraces,” she said.
“In Monaco, the advertised area includes all space, sometimes even the cupboards.”
There is also a stark contrast in rental prices, with monthly rates in Beausoleil starting at €750, or $1,000, for studios and €1,500 for two-bedroom properties. In Monaco, monthly rents can range from €3,200 for small studios to more than €20,000 for a penthouse.''
''Investors looking at Beausoleil usually consider the possibility of seasonal rentals.
“Around four million tourists visit Monaco annually,” Ms. Bernard said. “There’s also a solid conference industry and events such as the Grand Prix.”''
Properties that can be used as luxury rentals are relatively hard to find and tend to sell quite quickly although, if you are in a good position and prepared to move quickly you can certainly find some interesting properties.
Options on Home Hunts books include:
There are other plus points to Beausoleil. Because the town is built on the hillside above and next to Monaco, many of the homes have as good as or even better views than those in Monaco. One is also likely to get more character in terms of the properties. With Beausoleil’s potential, it may seem strange that the town is not better known but the area did not really have the same cachet as other locations on the Côte d’Azur until recently. That image is beginning to change, mainly because of physical restrictions.
There’s no room for further development in Monaco and Beausoleil could definitely be a good long-term investment. With a lot of money being spent on the improvement of the town and a new luxurious apartment block being built on the border of Monaco and Beausoleil, this is definitely a place to watch!
If you would like further details about property for sale on the French Riviera or apartments in Monaco. Home Hunts specialise in finding luxury property for sale throughout the South of France and Monaco. Visit the site www.home-hunts.com to search through a selectin of luxury homes or call us on 0033 970 44 66 43