Nice, like all destinations hasn’t been immune to the economic downturn. In 2008 property asking prices reduced, however due to the limited supply on the Promenade des Anglais and high demand for the glamorous sea front lifestyle Nice offers, prices have remained reasonably stable.  Mr Ajderhanyan comments, “Despite the market, we still can’t simply wait for customers to ‘pop in’, in this era of global real estate, it is essential to make the effort to visit potential new markets and forge relationships with new customers.”

Mr Ajderhanyan has recently completed a world tour including visits to Eastern and Central Europe, flying over to Asia, and to both North and South America; an exemplary sales effort for the overseas property industry. And not one step has been without his pocket bible, ‘How to sell efficiently in 60 countries’, an essential reference book listing greetings and business practices worldwide.

The new billionaires in India are eager to invest abroad; one recently purchased the one and only private estate on the Lerins Islands facing Cannes for 43 million Euros. “They have access to extremely large budgets and are prepared to spend millions of Euros to buy exceptional properties in relatively stable markets and micro markets such as the south of France”, says Mr Ajderhanyan.

There has long been a love affair between the French Riviera and the Russians and they are now coming back in droves. Not only are the rich Russians are investing in French property but the new booming upper class is attracted as well.

“Unfortunately it seems that the Chinese do not like to suntan so they tend to opt for cooler climates such as Canada or the West Coast of the USA. In France the Chinese are buying Parisian apartments and vineyards in the countryside but very little on the south coast”, yet Mr Ajderhanyan remains optimistic and is insistent on maintaining presence in this market with such enormous potential.