Monday, 14 February 2011

Promenade des Irlandais becomes the Promenade des Anglais in Nice once again

The Irish Times property section on Thursday 10th February had a headline "Sun sets for holiday homeowners" - Thousands of Irish people who bought homes abroad, for their holidays or as a pension, are selling up – if they can.

The report featured Nice Estate Agent Kirkor Ajderhanyan a director of Agence 107 Promenade, an agency which specialises in selling properties with sea views on Nice’s seafront. He said "There were so many of them that we used to call it the Promenade des Irlandais at the time. But most will make an average gain of 25 to 30 per cent".

Now many Irish are selling up not only in France (where property prices are still OK)buit in Spain ansd Portugal as well.

According to the report "Many bought properties for family holidays, others as a pension, with the benefit of it being an occasional holiday home. Some needed rental income to cover a mortgage, others didn’t.

Some raised mortages against the then high value of their Irish homes; others raised the money abroad against the value of the property purchased. Many are happy with their purchase and are holding onto it while they still have a job at home."

Read the story in full here

If you have a property in the France, Spain or Portugal and want to earn money from it, why not let it as a holiday rental. For a very, very low annual advertising fee (about the price of 2/3 bottles of wine in Ireland) you can advertise it at This website has been in business 10 years now and for the Nice area there is a specialist site www.cotedazurrentalcom

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