April 18, 2024 #1 Local News, Information and Event Source for the Century City/Westwood areas.

Owning a Piece of the the French Riviera

When visiting the French Riviera for the first time, tourists are stunned by the beautiful beaches and views, the unforgettable French cuisine and the charm of the numerous medieval villages dotting the countryside. For many on the Westside, the popular Côte D’Azur is a habitual destination. In fact, 30 percent of all tourists visiting St. Tropez, Cannes, Nice and Monaco are from the United States.

Jack Westen, a Nice-based realtor catering to Americans, has lived there for more than 15 years. In that time, he has seen an increase in the number of U.S. tourists returning to rent or even buy a home on the Riviera.

“Many rent by the week, but others have realized that it is more advantageous to buy a vacation home and rent it out when they are not staying in it,†he says.

If you’re planning on coming back every year, renting a house or an apartment might turn out to be costly. A week on the Riviera costs anywhere from $1,500 a week for a tiny apartment in Nice to $30,000 for a house with a pool in St. Tropez.

Westen has noticed a pattern since he started his real estate business. “Americans look for certain amenities, which come with a price. They’ll want to be close to the ocean and have a pool,†he says. “But at this rate, if you spend a week or two in St. Tropez every year, you will soon spend a fortune.â€

Westen presents another alternative: Invest in a vacation home. It may sound like a risk, but Westen says it can be the investment of a lifetime and, he insists, it is a lot easier than it sounds.

“Buying in France is not difficult at all,†he says. “Once you’ve found your dream place, you just need to be able to make a bank transfer to a local broker. A French bank can even lend you up to 60 percent of your mortgage, if necessary.â€

Having invested in a property, there are many property management agencies that can manage your place, renting it to vacationers to bring income that will help pay the mortgage.

Still, some may wonder if it is wise to invest now, with a weak dollar compared to the euro.

“It could still be lucrative,†Westen says. “The real estate market is still on the rise on the French Riviera and it is not likely to go down anytime soon. And if you decide to rent out your property, you will be paid in euros.â€

For more information on renting or buying a home on the French Riviera, visit www.PyramidFrenchRiviera.com

Related Posts

Bob Rosenbloom, Esteemed Owner of Bob’s Market and Community Pillar, Passes at 92

April 9, 2024

April 9, 2024

Bob Rosenbloom, the cherished proprietor of Bob’s Market on Ocean Park Blvd. in Santa Monica, passed away at his residence...

Don’t Miss Your Last Chance to Experience CORTEO by Cirque du Soleil!

April 25, 2023

April 25, 2023

The Show’s Run At The Microsoft Theater Ends On April 30  Time is running out for fans of CORTEO by...

Regulation of Short-Term Rentals in LA Failing as Enforcement Drops Significantly

April 4, 2023

April 4, 2023

Better Neighbors LA report highlights the inadequacies of enforcement measures for short-term rentals in Los Angeles, calling for increased regulation...

Non-Profit Helping Relieve Financial Burden For Cancer Patients

November 16, 2022

November 16, 2022

Cancer Cartel is helping cancer patients focus on their treatment, not the financial stress of living with a diagnosis. Learn...

100 Miles of Bus-Only Lanes Coming to L.A in Five Years?

October 17, 2022

October 17, 2022

L.A’s public transportation network is known for being slow due to traffic congestion. A new motion by L.A. City Council...

How to Wisely Manage Your Finances After a Job Layoff

October 3, 2022

October 3, 2022

Being laid off can be difficult, both emotionally and financially. It is important to manage your finances wisely during this...

Union Members Protest UC Policies in Westwood

May 3, 2022

May 3, 2022

Westwood and Wilshire protest takes place April 26 By Dolores Quintana The intersection of Wilshire and Westwood was the site...

Kale of All Kinds

March 16, 2022

March 16, 2022

Today at the Santa Monica Farmers Market we explore three different kinds of Kale from Cole Family Farms..Video sponsored by...

Name Revealed for Alice Waters’s Westwood Restaurant

October 20, 2021

October 20, 2021

Westside Dining Scene October 21, 2021 By Dolores Quintana Esteemed chef Alice Waters’s upcoming Westwood restaurant’s and the name has...

Community Volunteer Patrol Program Brings Civilians New Insight Into Law Enforcement

October 19, 2021

October 19, 2021

The West LA Police Department has a community patrol program bridging the gap between civilians and law enforcement. Video brought...

Police Seek Man Wanted for Sexually Assaulting Sleeping UCLA Student

September 2, 2021

September 2, 2021

Police are searching for a man wanted for sexually assaulting a female UCLA student while she slept. According to the...

Final Weekend of Marina Drive-In Movie Summer Series With New Movies Added

August 28, 2021

August 28, 2021

WHERE: Marina del Rey Boat Launch Ramp, 13477 Fiji Way at Parking Lot #2 COST: $20 per vehicle, per movie...

UCLA Admits Most Accomplished Class in Its History

July 20, 2021

July 20, 2021

New freshman and transfer cohorts are also among university’s most ethnically diverse By Ricardo Vazquez | UCLA Newsroom UCLA has...

Heritage Museum Reopens with Unique Exhibition

June 24, 2021

June 24, 2021

The California Heritage Museum welcomes back visitors with a unique and stunning quilt exhibition, learn more in this video brought to...