Côte d'Azur Sotheby's International Realty: the rise of turnkey prestige real estate, an emerging trend in luxury real estate

Emerging trend in luxury real estate

The year 2023 witnessed a distinct dynamic in the luxury real estate market, although figures revealed a slight decrease compared to the previous year, both in terms of transactions and prices. However, within this diverse market, one segment stands out: turnkey properties, fully renovated and decorated, are rapidly attracting buyers, while properties with defects are experiencing longer selling periods. These turnkey properties have become attractive options for both buyers and sellers, speeding up the sales process.

Expansion of the trend on the French Riviera

This emerging trend, already well-established in Paris, is now gaining traction on the French Riviera, with similar expectations in terms of location, renovation, and high-end amenities. Turnkey properties are attracting an international clientele, from wealthy French individuals to Europeans, Americans, and Middle Easterners. These buyers seek properties ready for immediate occupancy, offering luxurious settings and unparalleled convenience, without the hassles associated with renovations and furnishings.

Strict criteria for turnkey properties

To qualify as turnkey prestige properties, homes must meet strict criteria, including premium location, quality renovation, and high-end amenities. Special attention is paid to the decoration, which must be both elegant and neutral to meet international luxury standards. These properties, often compared to suites in grand hotels or pages from interior design magazines, stand out for their perfection and adaptability to the varied tastes of potential buyers.

Dynamic market and rapid transactions

The turnkey property market is characterized by high demand and rapid transactions, often at high prices. Buyers prioritize speed and peace of mind, thus avoiding the constraints associated with renovation work. For sellers, offering a turnkey property can be a significant advantage, speeding up the sales process and maximizing the property's value.

Importance of home staging to maximize appeal

Finally, the use of home staging, whether physical or virtual, has become an essential tool for showcasing turnkey properties, facilitating potential buyers' projection into their future living environment. This strategy creates an attractive and functional environment, thus enhancing the properties' appeal in an increasingly competitive market.

Our selection of sold turnkey properties on the French Riviera

Villefranche-sur-Mer : 4 room duplex with panoramic sea view, swimming pool and parking lot

Beaulieu-sur-Mer : 3 room apartment with sea and port view, terrace, garage

Cannes Croisette : 4 room apartment with sea view, Palais Miramar, parking lot

Mougins : Luxurious new contemporary villa, 5 bedrooms, village view, swimming pool

Nice : 3-room penthouse with sea and city views, private pool, parking

Roquebrune Cap Martin : Villa St Tryphon, majestic waterfront residence, sea view, Monaco

Villefranche-sur-Mer : Villa Moonlight, contemporary, ultra-luxury, sea view, swimming pool

Turnkey prestige real estate embodies an unavoidable trend in the luxury real estate market, offering buyers a hassle-free purchasing experience and sellers an opportunity to maximize their property's value. With increasing demand and rapid transactions, this segment continues to gain popularity on the French Riviera and beyond, redefining the standards of real estate excellence.