French Riviera vs. Bordeaux
- Mitt Chen
- Jul 31
- 3 min read
Why Are International Buyers Drifting Inland?
Is the Côte d’Azur losing its crown—or is Bordeaux simply aging like its wine? 🍷
For decades, the French Riviera—from Cannes to Cap d’Antibes—has been the uncontested playground of billionaires, oligarchs, and celebs. But something curious is happening in 2025: more international buyers are setting their sights inland, toward Bordeaux, Dordogne, and even the remote vineyards of Nouvelle-Aquitaine.
So what’s really going on?
“Are we witnessing a geographic reallocation of global luxury capital—or just a COVID-era correction playing out slowly?” Let’s swirl, sniff, and sip the data. 🍇📊
Is the French Riviera Overpriced—or Overexposed?
Let’s start with numbers. In early 2025:
Riviera prime property averages €18,000–€40,000/sqm
Bordeaux luxury properties hover around €6,000–€8,000/sqm
That’s a 3x–5x pricing multiple for homes within a few hours’ drive
The French Riviera still commands a premium due to:
🌊 Proven global brand
🛥️ Yachting infrastructure
✈️ Private air access (Nice, Cannes-Mandelieu)
But investors are noticing the yields are compressing. A 2024 Savills report noted that rental yields in Cap Ferrat dropped to 1.4%, while inland vineyard estates near Libourne and Saint-Émilion now reach 3.8–4.2%—even higher for hospitality conversions.
Who’s Buying—and Why Are Preferences Changing?
Americans
Seeking heritage estates post-“Emily in Paris” effect
USD strength vs EUR = discount mindset
Favoring Bordeaux wine regions for lifestyle + upside
Brits
Retreating from Brexit-fueled Riviera price hikes
Attracted to Dordogne, Bergerac, and Bordeaux for value
Middle East & LatAm
Growing HNW demand for secondary passports + soft landings
Bordeaux seen as stable, elegant, less exposed to EU politics
Mitt POV: “The ultra-wealthy are moving from Champagne culture to claret strategy—slower, but deeper.”
Is It All About Value—Or Is It About Volume?
Riviera supply is tight. It’s a seller’s market with legacy owners. Bordeaux, on the other hand, offers:
🏰 Larger estates with renovation potential
📈 More active transaction volumes = liquidity
🚆 High-speed TGV to Paris under 2 hours
🛫 New international air routes to Bordeaux Mérignac
In short: Bordeaux has both lifestyle appeal and capital deployment options. That’s catnip for global allocators looking for asset-backed lifestyle plays.
Château or Beachfront: Which Actually Performs Better?
Let’s compare two hypothetical €5M assets:
Feature | Cap d’Antibes Villa | Saint-Émilion Château |
Asset Type | Modern coastal villa | Renovated vineyard estate |
Price/Sqm | €25,000/sqm | €7,500/sqm |
Gross Yield | 1.8% | 3.9% |
Seasonality | June–Sept | March–Oct |
Operating Costs | High (staff, security) | Moderate (agri offset) |
Long-Term Resale | Prestige play | Heritage + P2P demand |
Tax Advantages | Wealth tax applies | Eligible for renovation relief |
France offers major tax reliefs for listed and heritage renovations via Monuments Historiques, which can offset up to 100% of capital improvement costs if rented or preserved. Bordeaux estates qualify more often than Riviera homes.
What Do International Investors Know That Locals Don’t?
✅ Private equity and family offices are entering the wine & tourism game. Many Bordeaux estates are now structured as hospitality hybrids—offering short-stay lodging, tasting events, and weddings.
✅ Fractional ownership is on the rise. Inland estates offer subdivided income models: events, bottle production, short-term rentals.
✅ Climate plays a role. While the Riviera faces heatwave and drought risk, Bordeaux’s vineyards are adapting to warming conditions—and some argue, improving.
"Sustainability isn't just vineyards. It’s climate, water, and access. That favors Bordeaux over Nice." — A Swiss LP in a 2025 Real Asset Forum
🏦 What Are the Financing & Tax Realities?
Item | Riviera | Bordeaux |
LTV from French banks | Up to 60% | Up to 70% (esp. with income-use case) |
Foreign buyer incentives | Declining | Supported in regional development areas |
Wealth tax exposure | High (non-productive assets) | Lower with productive/agricultural use |
Tax offset tools | Limited | MH, Malraux, LMNP tax schemes |
💡 Mitt Insight: “Bordeaux buyers often use the estate’s income potential—wine production, events, agritourism—as a financing and tax offset lever. Try that with a pool house in Cannes.”
Final Take: Is Bordeaux Really the New Riviera?
Not yet. The Riviera is still king for trophy assets, celebrity clout, and year-round shine.
But for global allocators, lifestyle seekers, and family offices who want:
✅ Larger estates
✅ Lower entry points
✅ Income yield
✅ Tax shields
✅ Heritage value
✅ Less speculative pricing
…Bordeaux and its surrounding regions are becoming the quiet outperformers in France’s luxury real estate market. This isn’t about abandoning the Riviera. It’s about hedging glamour with gravity. 🌿🍷
Comments