According to the latest EstateNetFrance index published on the Property Wire portal, the average price for a luxury home on the sought after French Riviera has fallen under 2 000 000 euros for the first time.
The figures for January 2012 show a big increase in properties for sale, up by almost 16% since December 2011 and over 12% up from January 2011.
Properties that were taken off the market and new listings that were put on hold due to the new tax regulation effective from tomorrow (Wednesday 01 February) are now back on the market.
The index shows that the average price for a luxury home on the French Riviera is now 1 925 383 euros. But the total market value is less today than a year ago at 23 160 000 000, some 6,87% down on January 2011.
Source: http://www.propertywire.com/news/europe/france-riviera-property-prices-201201316088.html