Prestige real estate: the Côte d'Azur, a resilient and selective market in 2023

Despite global economic challenges, prestige real estate on the Côte d’Azur was active in 2023. As proof, Sotheby’s International Realty France-Monaco’s results show positive momentum in an increasingly demanding market, despite a slight decrease compared to 2022.

The prestige real estate market on the Côte d’Azur is doing well, despite global economic challenges. Figures published by Sotheby’s International Realty France-Monaco attest to the sector’s vitality.

Despite a slight decrease of 7% compared to 2022 (but an increase of 2% in volume compared to 2021), the high-end real estate specialist is reporting solid results. The network’s 80 agencies closed more than 800 sales of prestige properties in France, worth almost 1.5 billion euros. These figures testify to a market that remains dynamic but increasingly selective.

The Côte d’Azur retains its status as one of the most important markets. Whether it’s the sunshine or the general quality of life, many buyers, both French and foreign, choose this region for their real estate investments. In 2023, real estate transactions in the region each ranged between 5 and 15 million euros at Sotheby’s.

Notable examples include an apartment on the Croisette in Cannes sold for 8.3 million euros, a maison de maître in Roquebrune-Cap Martin sold for 6.3 million euros, and a historic bastide in Villefranche-sur-Mer sold for 6.2 million euros.