The region also offers a diverse geography, ranging from the famous Riviera beaches to the Alpine region around the Mercantour National Park. All this comes with over 300 days of sunshine a year. Nice, the department capital, is France's largest tourist centre outside of Paris, attracting four million visitors per year. The relaxing and fun city has a vibrant young population and allows easy access to Monaco.

Just along the coast is the infamous Cannes which plays host to the great and glamourous in its annual film festival. Although the population triples in size when the film industry descends, tourism is healthy throughout the year with visitors attracted by the beaches of La Croisette, trendy shops and good food. Though coastal hot spots in the department are hugely popular, nearby mountain villages also draw the crowds. Mountains as high as 3,000 metres above sea level are home to winter resorts less than 100 kilometres from Nice. Auron, situated 1,600 metres above sea level, is one of the finest ski resorts in the region with 130 kilometres of runs to suit all proficiency levels. Meanwhile, in the summer months, many people choose the mountain air over relaxing on the beach to go rock climbing or hiking.

Property is expensive throughout this department, though less so as you move inland from the main Riviera resorts. Those who buy in the Alpes-Maritimes tend to do so on a buy-to-let basis so as to get a return on their investment.

The Alpes-Maritimes department has a long-established overseas property market, and returns on investments reflect its popularity as a tourist destination. However, is a sizeable initial outlay on property in this glamorous and affluent area a good way to turn a profit? Gordon Roughan, Managing Director of Maison Individuelle France, says the answer is yes. "The property market for the popular areas of the south of France are still very much in demand following a slowing down of property prices," Roughan enthuses. "We are seeing around 5 per cent capital growth in general."

Combined with high purchase prices this represents a substantial price increase. "The Riviera is an exclusive area and attracts investors, so there are no upper limits for what value house prices will reach," adds. Patrick Joseph, Managing Director of property website My-French-House. "Whether you buy a 300,000 euro apartment or one of the exclusive, top-end properties, you can't really go wrong." However, Roughan highlights factors that determine profitability in the buy-to-let side of the market. "The average rental yields are 4 to 6 per cent, depending on the area and close proximity to the coast," He explains, adding "However, the big change in the property market in the Alpes-Maritimes over the last five years is the demand for newer property within easy reach of the airports. "The ever-growing population will continue to look for something suitable for long weekends and rental purposes, particularly in peak periods such as school holidays."

This, though, is not to say investors should shun inland areas of Alpes-Maritimes. "Not everybody wants the hectic lifestyle of the coast," Joseph says. "Businessmen and retirees dont want to fight for space with tourists: they want to relax. Valbonne is nice and Grasse is very beautiful, while Sophia and Antipolis are business centres and still only 20 to 30 minutes from Nice airport." "This department is often overlooked by investors because of people's perception that it is too crowded," Roughan adds. "It's far from it, just pick your moment and venture away from the coast at any time of the year and I'm sure that you will be surprised at how quiet it is."

Other than the coastal areas, the Alpes-Maritimes ski resorts are busy in the winter and in the summer many head for the Mercantour National Park for adventure activities. Though prices are higher than in other areas of France, the outlook for Alpes-Maritimes property is good for the future. "I expect prices to rise steadily," says Joseph. "People will always be attracted by the glamour and luxury associated with the area." "While capital growth might be slower than in emerging European markets," Roughan adds. "France competes very favourably due to low deposit requirements, worldwide appeal as a holiday destination and a straightforward purchase process."

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Article published October 2007