Corsica is an interesting place where buying a property


Corsica is a Mediterranean island with about 330,000 inhabitants. Corsica is known for its stunning beaches and with a real estate market  essentially divided into two housing markets.

The pricing is more expensive on the south side of the island, where there are more celebrities, and it’s more fashionable than the north, whereas the northern side has less construction, more historic buildings and is a bit more windy and colder in the winter.The price of waterfront properties in both areas has increased dramatically over the past ten years, but the general housing market has faced challenges following events like the global financial crisis of 2008 and, more recently, Brexit and the French presidential election.


Average prices in Corsica’s population centres are wide ranging. In Bastia, in the north, the average is roughly 2,400 Euros a square meter, while in Lecci, to the south, the average is about 4,900 Euros a square meter. And waterfront properties in cities like Lecci, Bonifacio and Porto-Vecchio in the south can be more than 20,000 Euros a square meter.

The housing market is mostly fuelled by French buyers, including many expatriates. But the number of foreign buyers is growing, many of them from Belgium, Switzerland, Britain, Italy, Germany, the United States, Holland and the Scandinavian countries.

There are no restrictions on foreign buyers in Corsica, which is an administrative region of France. As in mainland France, a notary typically conducts the sale and a lawyer is not necessary.



[from NY Times]


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