Doing the season, Riviera-style

It’s spring on the Côte d’Azur and, while the weather in northern Europe remains predictably patchy, the sun is shining in Nice, with the mercury registering an early-April high of 20°C. All over the city, residents are soaking up the rays: wandering through the Cours Saleya’s colourful flower market, exercising along the Promenade des Anglais, admiring the yachts in the port or pulling up a chair to enjoy a salade niçoise and a glass of Provençal rosé in the Old Town. For property owners in Nice and Cannes, the two biggest centres on this picturesque stretch of coast, the year-round lifestyle here underscores the investment potential on offer.

“Homeowners who don’t live here full-time have always welcomed the opportunity to earn some rental revenue to help offset holding costs – it works well for them,” says Alex Balkin, executive director of Savills French Riviera & French Alps. “Beaulieu, Nice, Cannes and Antibes all have true year-round life. The weather helps, of course – the famous 300 days of sunshine – but culturally and socially, too, life does not stop once the summer months are over. Restaurants and bars are open year-round. In Nice, in particular, with a good international airport so close to the centre, the ease of taking a few days out of a busy life to be by the sea is alluring.”

Nice’s international appeal is well documented. The Promenade des Anglais, the elegant walkway by the Baie des Anges, was named after the English aristocrats who came in numbers to winter in Nice in the 19th century – Queen Victoria among them. Today a roll call of nationalities flies into Nice airport. The domestic market is also buoyant, with the Riviera a firm favourite among Parisians who arrive by plane or high-speed train, the TGV.

“The reset we’ve seen since Covid gives people more freedom on where and how they live. With more of us able to work remotely, Nice and the Riviera have been major beneficiaries,” says Balkin. “We have around 200 rental villas on our books and, as well as visitors coming for a few days and looking for an Airbnb-style apartment, we’re seeing more people choosing to stay here for extended periods: a year or longer.”

The Riviera’s annual calendar of events includes the Nice Carnival and Menton Lemon Festival in February, the Monte-Carlo Masters tennis tournament in April, the Monaco Grand Prix and Cannes Film Festival in May and the Nice Jazz Festival in July. Once high summer is over, there are regattas, theatre and music festivals, and Christmas markets. Cannes was voted “Europe’s leading festival and event destination 2022” at the World Travel Awards, with its Palais des Festivals hosting 140 events last year. The city also has two main marinas, an elegant seafront and a year-round buzz.

For property owners looking to benefit from this coast’s lengthy season, Beaulieu, Antibes, Cannes and Nice are the best bets, says Balkin. “Homes away from the cities close to the water will rent well in summer months but are unlikely to achieve year-round occupancy,” he says. “Saint-Tropez is a good example. It’s an outstanding summer location, with vibrant life from April to October, but is significantly less active in the winter months.”

For those with up to €1.5 million (about £1.3 million) to spend in Nice, Balkin advises purchasing a two- to three-bedroom apartment close to the centre, preferably with a sea view and some outside space, to maximise their investment. “These make wonderfully convenient rental properties,” he says. “Nice airport is six kilometres from the city centre – 30 minutes on a tram or 15-20 minutes by taxi – and you have all the restaurants, shops and the sea on your doorstep. The holiday-letting potential is there.”

Balkin concludes with a word of advice for anyone considering renting out their holiday home. “Check with your agent whether there are any restrictions on letting an apartment in a communal building,” he says. “It’s up to the residents in these buildings to decide whether or not they permit rentals. And anyone considering renting through Airbnb or an equivalent must register with the authorities. It’s a straightforward process that we can help with.” What could be better than the opportunity to enjoy your own Riviera-style season – all year round?

Alex Balkin, Executive Director, Savills French Riviera & French Alps
abalkin@savills.com +33 (0) 4 93 87 41 15

Pictures from top: a view across the bay of Nice (Getty); Place Masséna in Nice (Alamy); Monaco during the Grand Prix (Alamy); the gateway to Le Vieux Nice (unsplash); and yachts in the bay at Saint-Tropez (unsplash)