It's official - the best time to sell a property is the summer. The French national statistics office (INSEE) recently released data which suggests what many people have previously thought - property prices are higher in summer than at any other time of year. While particularly true outside of Paris, it is a national trend.

According to the INSEE, the trend is caused by parents of school-age children rushing to buy property before the school year commences in September. Due to this, buyers outnumber sellers, which in turn leads to an increase in prices. The statistics divide the year into 4 quarters, with the third quarter (July, August and September) showing higher prices. In France, it takes at least 2 months to close a transaction, which suggests that sellers should have their property on the market in early summer to take advantage of these higher prices.

Property sellers should not get too excited however - the difference, on average, is a little less than 2%. Based on a property value of €250,000, this works out at an extra €4,500 or €5,000 - enough for excellent holidays, for example.

Does this particularly influence the French Riviera? The data does not mention the French Riviera, only all areas except Paris. However, one can assume that the statistics holds true for the Côte d'Azur, especially areas with a high proportion of local buyers, such as Nice or Grasse. Places like Théoule-sur-mer or Saint-Jean-Cap-Ferrat would not be expected to be influenced too much by this trend, as they have a much higher proportion of secondary residences and foreign owners.

How does this influence buyers' or sellers' decisions? Knowing this, sellers thinking about selling should put their properties on the market as soon as possible to take advantage of slightly higher prices. Also, competitive prices should ensure a sale as buyers rush to purchase before September comes.

Buyers can be more discerning in the coming weeks, knowing that most seller's do not know that demand is higher in summer. Unless of course, they have a good estate agent.

Donal Warde is owner of Warde Property, an English-speaking estate agency based in Nice, selling property all over the French Riviera.

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