The 2024 real estate market report for the French Riviera

According to official statistics, the French Riviera’s real estate market was in decline in 2024. The number of apartments and houses sold/purchased fell by 10%, while prices dropped by 5% on the resale market in the Alpes-Maritimes department. It was a rare year for our usually very stable property market.

Some towns fared better than others, particularly in the east between La Turbie and Menton—a sector dominated by apartments—as well as the “golden triangle” of Biot-Valbonne-Mougins, where houses prevail. These areas showed solid resistance, with volumes and prices barely moving. The same holds true for La Colle-sur-Loup, Roquefort-les-Pins, Châteauneuf de Grasse, and Vallauris.

More surprisingly, the area between Nice and Cagnes experienced a significant drop (-14%), in volume even though the average price actually increased by 2%! The biggest surprise came from the Cannes, Mandelieu, and Théoule-sur-Mer sector, where both prices and transaction volumes decreased simultaneously by 14%.

2025: A new challenging year for the Alpes-Maritimes real estate market

We had hoped 2025 would bring a rebound in the property market, but escalating geopolitical tensions early in the year caused many real estate projects to be postponed. The “Trump effect” in April only added to the market’s uncertainty. As a result, demand for houses and apartments on the French Riviera is stagnating—but so is supply! Buyers and sellers alike are adopting a wait-and-see approach. New construction projects are not increasing either. This simultaneous stagnation has helped the market maintain its balance, with prices showing little movement.

One consequence, however, is slightly longer selling times. That said, when property prices are realistic, transactions still close quickly. However, the number of foreign buyers looking to purchase a villa or apartment on the Riviera is still lower than in the pre-Covid period.

Our real estate agency, AAA Riviera, continues to handle villa and apartment sales and purchases at the same pace as in 2024, which was a record year for us in terms of transaction volume. This is primarily due to our strengthened sales team and our extremely loyal clients who trust us for our professionalism and service—and who actively recommend us to their networks.

A new twin villa construction project in Biot

An exceptional and exclusive new real estate development is about to begin at the entrance to the village of Biot. We are currently preparing the commercial launch of this magnificent contemporary project: four “townhouse-style” residences, each offering panoramic sea views, 150 m² of living space, green roofs, a shared pool, and garages. Only four lucky buyers will get the chance to own a home in this unique development within walking distance of the charming medieval village of Biot.

The 2025 Michelin Guide and the French Riviera

Michelin recently released its list of starred restaurants for 2025. Still reigning at the top of the Riviera is the Mirazur in Menton with its 3 stars (Argentinian chef, a strong advocate of biodynamic farming). La Chèvre d’Or (Èze) and La Villa Archange (Le Cannet) retain their 2 stars.

In the department, 18 restaurants hold one star. Among the newcomers this year: La Palme d’Or (Hotel Martinez, Cannes) and Mareluna in Théoule. Still shining with their magnificent Michelin-star : Alain Llorca in La Colle-sur-Loup, Le Figuier de Saint-Esprit in Antibes, and Les Terraillers in Biot. These last three are truly worth a visit!

Did you know?

France is self-sufficient in electricity thanks to its nuclear power plants and renewable energy sources. However, it imports all its oil and gas, which accounts for more than 70% of the country’s trade deficit.

The Ministry of Finance has opened the possibility of increasing “notary fees” (i.e., property registration taxes) in 2025. Departments now have the autonomy to decide whether or not to implement the hike. Fortunately, the Alpes-Maritimes department wisely chose not to apply it.

The number of real estate agency bankruptcies in France rose by 225% in 2024, with 1,234 agencies shutting down. That said, there are still nearly 20,000 real estate agencies in the country!

Robert De Niro and Denzel Washington were respectively awarded the Honorary Palme d’Or on May 13 and May 20, 2025, for their lifetime acting achievements, during the 78th edition of the Cannes Film Festival.