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Overseas Health Insurance News: The super-rich still favour the Cote D'Azur

The Cote D'Azur is still the favourite destination of the most wealthy expatriates looking to buy second homes, according to a new study.

In the Candy GPS report, it was revealed that the French Riviera location is favoured by the super-rich, with St Barts, St Moritz, Monaco and Costa Smeralda in Sardinia completing the top five.

Some 60 international hotspots were identified in a bid to find the 20 prime locations, taking global reach, property values, exclusivity and luxury tourism into account.

Anyone looking to purchase a property in the Cote D'Azur can expect to pay more than £18 million for a five-bedroom house.

Joining St Barts in the top 20 is the bigger Caribbean island of Barbados, which came in at number six. Its inclusion in the rankings is mainly down to British expats buying properties in the destination.

An upgrade to its airport and a number of other infrastructure investments has put St Vincent and the Grenadines on the radar of the very wealthy.

The resort of Canouan now sees villas with five bedrooms averaging at £3.8 million, putting it in the top 20 too.

But Caribbean destinations aren't for everyone and ski resorts, such as Aspen and Vail in the US, continue to do well.

Asian buyers have also started to increase their purchases in the Swiss Alps, which has in the past been dominated by the British and those looking for property from other Northern European countries.

Yolande Barnes, director at Savills World Research, which conducted the research, said: "Ultimately, it is the combination of global wealth creation and fashion that will determine the next playgrounds of the rich and famous.

"It will be interesting to see whether Asian buyers start to adopt the European and North American preferences for sun, sport and skiing or whether they will continue to cling to more urban centres for rest and recreation."

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