The need for space and privacy
Indeed, Philip White points out that the Covid crisis has fundamentally changed our view of real estate and of our “home”, and buyers are now prioritizing larger properties with exceptional amenities such as gourmet kitchens, gyms, swimming pools, with a more spacious surface area and an extraordinary view, thus abandoning prime locations.
Questions in 2021
ow will these trends following the health crisis impact the real estate market?
Where will the best returns come from: bigger house or prime location?
The ideal answer
The balance between a sought-after location and a spacious area - preserving the privacy sought during confinement while returning to a normal life and our former activities, by purchasing a few minutes from a sought-after area with all the amenities.
Nonetheless, Philip White points out that home buyers who prioritize location over home size and condition make a smart investment, even as current investors don't always want to rush big cities when remote work policies allow investment in locations offering space and privacy.
The French Riviera
For the Côte d'Azur, the luxury and ultra-luxury markets remain stable, always sought after and representing a safe investment, whether it is a waterfront villa, a penthouse by the sea or a private domain in the hinterland, ten minutes from the main roads, allowing easy access to the major cities of the Riviera.
Mentalities have changed and the French Riviera offers all the alternatives to this new state of mind. Now more than ever, home buyers aren't only defining their property by location, and they're willing to invest a little further away from major urban areas.
Secondary residences
Investing in vacation destinations will continue to be a good bet, with foreigners especially keen to travel - and rent vacation properties - after being stuck at home for over a year. Once again, teleworking now allows a different organization, and this flexibility is reflected in the real estate market in tourist and leisure areas, corresponding to various lifestyles: golf, skiing, hiking, horseback riding, vineyard, yachting , etc. Lifestyles all united on the French Riviera.
For buyers of primary and secondary homes looking for a good investment: Consider not only the location of the property itself, but the local market as well. Location remains a primary factor in price appreciation, and another factor of location is the market itself. While the pandemic has certainly shifted interest to secondary and resort markets, many of the areas affected by this real estate market offer entertainment, activities and, especially on the French Riviera, are close to major cities that attract all buyers looking for a property located in an area that matches their interests.
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