The appeal of American buyers for the French Riviera

Why Americans Are Flocking to the French Riviera—And Investing in Real Estate

An interview with Edward de Mallet Morgan, Head of Super Prime Sales and Private Office for Estate Prestige Knight Frank.

The French Riviera has always been a magnet for Americans, drawn by its mix of sun-drenched beaches, rich history, and effortless glamour. From the days of F. Scott Fitzgerald, Grace Kelly and the Golden Age of Hollywood to today’s entrepreneurs, tech titans, business leaders and celebrities like George Clooney or Brad Pitt, the Côte d’Azur remains the ultimate escape. But in recent years, it’s become more than just a luxury destination—it’s a prime real estate investment opportunity.

With agents commenting that the French Riviera’s real estate market has settled at the bottom of the price curve, when combined with the strength of the U.S. dollar against the euro, buying real estate in the South of Franec and indeed in wider France has never been more appealing. As covered in various news sources, high-profile American investors have taken notice, acquiring some of the Riviera’s most prestigious estates. In 2022, Villa La Mandala in Saint-Tropez, previously owned by Bernard Tapie, was sold at auction for €81.2 million to an American investor, reported to be Tony Tamer*, co-founder of H.I.G. Capital. More recently, in late 2023, WhatsApp co-founder Jan Koum* reportedly purchased the historic Château de la Garoupe in Cap d’Antibes, formely owned by Russian businessman Boris Berezovsky*, for approximately €65 million, a property that had previously been seized by the French state. Then, in mid-2024, hedge fund billionaire Ken Griffin* made headlines by acquiring Domaine de la Capilla, a stunning waterfront estate on Tahiti Beach, Saint-Tropez, for over €90 million.

Edward de Mallet Morgan predicts that this trend will continue.

“With more American buyers looking to secure legacy properties in the Riviera’s most exclusive waterfront locations. Many of these estates, while prestigious, require significant renovations to meet modern luxury standards. However, buyers are now willing to take on the challenge if it means securing a trophy asset in an irreplaceable location and we can help by introducing reliable and experienced project managers. With limited availability along the coastline, but particularly on Cap Ferrat, Cap d’Antibes, Cannes and St Tropez, the opportunity to own a piece of Riviera history is one that investors are eager to seize, even now if it requires more than just a bit of updating.

Although our clients are from all over the world, our two top motivated buyers for the very top end of the market on the riviera today are from the US, both are looking to acquire legacy properties to use now but for future generations also to enjoy. Indeed as a wider trend, both want to buy in the South of France first, but we are also helping them investigate other locations to purchase further homes in top European locations to follow. More and more, we are being referred clients by other agents and their advisors from around the world, but particularly from the US and the UK, where they have strong relationships with their clients wanting to buy or sell and want to continue to be involved in the process overseas with a trusted and globally experienced agent.

The headline indicator for the market is that almost all €50m+ transactions on the French Riviera in the last x12 months were sold to American buyers.”

These widely reported high-profile transactions, highlight a growing trend of American investment in the region. Whether for lifestyle, legacy, or investment, Americans are securing their place in one of the world’s most sought-after locations.

For those considering a move, now may be the perfect time to explore opportunities on the French Riviera—before the secret gets out. 

*Sources: FR Wikipedia, Forbes, Nice Matin, Times Monaco, France24.

Please contact Edward de Mallet Morgan for more information.