It seems reasonable to expect the recovery, which started last year, may be able to continue. Because 2016 set records or the number of transactions in the Var area. With almost 25 504 property sales, or a 7.3% increase, the Var area generates one quarter of all sales in the PACA region.
Julien Savelli attended the local Real Estate Fair, in Jean Despas hall,
as the Var FNAIM President and represented the National Federation of Real Estate,
first organization of French real estate professionals.
In Grimaud, Ramatuelle and La Croix-Valmer, the sellers have to recognize that the housing prices, overrated when the market was booming, have been adjusted downwards. This was also the case for the Saint-Tropez bay although it is a niche market with micro markets for specific sectors and substantial disparities regarding prices.
Real estate professionals acknowledge that the recovery is due to the combination of several key factors : a price decline of properties for sale (-8.9% in 10 years) and the continuing low interest rates (still below 2%). The immediate effect of these two key factors was to boost the purchase power of first-time buyers and to encourage foreign investors, who will certainly get the most business value from their acquisition.
“The Saint-Tropez bay is still a dream location for international clients, thanks to its unspoilt nature and coastline, and represents a unique quality offer in the French Riviera”, FNAIM President Julien Savelli said.
Saint-Tropez is the most sought-after, exclusive and appealing destination offering a sunny lifestyle and so many activities to attract wealthy long-term residents who are shopping addicts as well as culture and gastronomy enthusiasts. This is the place where some of the most incredible luxury properties were confidentially put on the market and then sold.