As on the rest of the Mediterranean coast, prices on the Var coast and the Côte d’Azur have increased in recent months. For the Var, the increase was 8.6% between 2020 and 2021, but the rise in prices has reached 20.8% over the past five years, according to the Real Estate Observatory of Provence (OIP). “It is now necessary to count 3,850 euros per square meter on average in the Var, but we are betting on a slowdown in the coming year, in particular due to the rise in interest rates”predicts David Garavagno, president of the Fnaim du Var.
Prices on the Côte d’Azur, meanwhile, increased by 8.5% during the same period, according to Welmo, the online real estate agency. “The Côte d’Azur remains the most expensive coastline in France with an average property price of 5,591 euros per square meter. Nevertheless, the increase was less marked than on other French coasts, where the starting prices were lower”recalls Nicolas Gay, co-founder of Welmo.
Toulon remains affordable
These average prices, however, hide strong disparities: Toulon, the main agglomeration of the Var, remains generally affordable and major rehabilitation works in the city center are helping to restore the image of this port city. It takes 3,000 euros per square meter for an apartment and 3,900 euros for a house. A 70 square meter apartment located in the port area, at the foot of the Mourillon market, sells for 244,000 euros.
The houses are more expensive: the entrance ticket to the Mourillon district is 700,000 euros and it can be much more in the Faron district, on the heights of Toulon, where it is necessary to count close to two million euros for a beautiful recent villa with a swimming pool and a view of the harbour.
In other areas of the city, it is possible to find a house with a garden from 400,000 euros, especially in the Valbertrand or Font-Pré sectors. New programs close to the seafront are also being marketed, particularly in the very popular Cap-Brun district: a ground floor of 63 square meters is, for example, offered by Cogedim at 414,000 euros.
Buying a new apartment in the Var can however be difficult: “Old operations, especially those that have been challenged in court, are eventually going out, but if the commercial figures are good, the supply is scarcer than ever”, insists the Federation of property developers in Provence. It takes an average of 4,500 to 5,500 euros per square meter for new housing but more than 6,500 euros per square meter by the sea.
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