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French Riviera market attracting retirees

Article Date : Friday, July 20, 2007       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

Style and value is maintaining the Riviera's position as a "prestigious" retirement location, according to a French property expert.

While Riviera properties are fewer and more expensive than other popular retirement locations like the Spanish Costas, their value is not so much at risk, said Olivier Morvan of Cluttons France.

The Institute for Public Policy Research has predicted that one in five British pensioners will retire overseas by 2050.

"There is a difference between the Spanish Costas and the French Riviera; you wouldn't see an English man wearing his football shirt in France. The French Riviera has a certain prestige," Mr Morvan said.

"In France you will always keep the value of the property. In Spain once the market stops building – if they stop building – the prices of houses will go down."

He said the typical Riviera pensioner was in their mid-fifties and had paid off their mortgages and kept a smaller property at home for security.

A spokesman for Property Frontiers said that Cote d'Azur, Alsace, Charentes and Loire Valley prices were experiencing significant growth.
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