A home in Provence…
A dream for the French and an international legend since the publication of the very famous “A Year in Provence” by Peter Mayle, the English author who fell for the charm of the Luberon. Excursion to the heart of a region both appealing and diverse…
Much more than an area in south-eastern France with picture-postcard scenery, Provence is a culture, a fine art of living on an everyday basis. Blithely trespassing in the Provence-Alpes-Côte d’Azur region, running from département 13 to 04, the Alpes-Maritimes to La Drôme via the Var and Vaucluse, the scenery and architectural style of Provence are not bounded by administrative frontiers.
Séverine Fabre and Sigolène Valancogne of Majordames Immobilier have made Eygalières, in the Alpilles between Ménerbes and Saint-Rémy-de-Provence, their land of predilection. Clinging to a rocky spur, this village with less than 2,000 residents surveys the vineyards and olive-groves. It appeals to artists, moved by its beautiful light, and celebrities in search of privacy and peacefulness. The micro-market here offers several types of properties, starting with charming drystone houses in the village, giving onto intmate courtyards, priced from 500,000 to 1.5 million euros, drawing an older clientele, French or English, appreciative of its high level of practicality and low logistic demands. Mandatory as part of Provençal culture, the “mas” still reigns supreme. In need of renovation, it can still exceed 2 million euros, attaining 4 to 5 million following restoration. French, Belgian, Swiss and British clients (now making a comeback) are all very fond of the genre. Foreign buyers not inclined to take on large-scale renovation set their sights on recent properties fetching up to 3 million euros. Parisians, comprising the majority of buyers here, appreciate Avignon’s TGV station, just 2 hrs 40 from the capital. Despite the crisis of 2008 and the decline in the number of transactions, prices have held steady. Well-qualified in the field, clients here are perfectly aware of going values. Correctly priced, properties soon find takers. Summer visitors allow one to predict renewed interest in well-preserved addresses, far from the bustle of large towns.
While technically speaking, L’Uzège is not in the PACA region, this area in Le Gard can nevertheless lay claim to its Provençal origins. Between Arles, Nîmes and Avignon, Uzès, home to 8,400 residents, alternates fields, garrigue and vines, with its well-known market in full swing every Saturday. Hervé de Maulmont of Catherine La Bruyère Immobilier focuses on properties of character, whether old or contemporary, retaining mandates for only 35% of the homes he visits. He describes a house of 140 m2 twelve km from Uzès, built in the late 18th century, proposed at 230,000 €. Requiring low maintenance, it is the ideal holiday home for families from Grenoble, Paris or Geneva. He then moves on to a château of 810 m2, whose foundations date back to the 11th century, with 12 suites and a monumental staircase, on offer at just under 1.5 million euros. Fans of old stone, keen to play at lord and lady of the manor, are mainly interested in the intrinsic qualities of the building and see the address as taking second place. The market is thus more open and, as a result, more competitive. 2.5 km from the historic centre of Uzès, a farm “mas” offers living space of 654 m2 in a park of almost 3 acres. Boasting a split-level master suite of 139 m2, it is on offer at 1,950,000 €. A property likely to appeal to a European clientele wanting a life-changing experience. 73% of the turnover can be credited to foreign buyers. Hervé de Maulmont even mentions the recent arrival of clients from Australia and New Zealand, a faster pace in transactions in the first half of 2016, and price levels close to those witnessed in 2007. Long-forgotten the sluggishness of the 800,000 to 1 miilion euro bracket…
Created by Michel Veyrier, Vinea Transaction, specializing in vineyard estates, has nine addresses in France’s main wine-producing areas. The three agencies in the south (in Montpellier, Châteauneuf-du-Pape and Fréjus) cover the entire Mediterranean region. Le Languedoc is the world’s largest vine-growing area, boasting 220,000 hectares (543,400 acres) of vineyards and offering good value for money with an average rate of 20,000 € per hectare. The Valley of the Rhône owes its reputation to its prestigious wines such as Gigondas and Châteauneuf-du-Pape. Prices here start from 20,000 € per hectare, while “grands crus” such as L’Hermitage are worth around 1 million euros per hectare. Provence surfs along on the popularity of its rosé wines. On the shores of Le Var and in Les Bouches-du-Rhône, prices start at 150,000 € per hectare, whereas vineyards post prices from 50,000 € per hectare in the Centre-Var, thus making the vineyards of Provence the most expensive on average. Over the past decade, the market for vineyards has been very bouyant and French clients are well represented, looking for a change in lifestyle, but also drawn by tax benefits : allowances for main homes, exoneration from the Wealth Tax when the property functions as a professional enterprise, advantages in the event of inheritance or donation, and the possibility of carrying out property developments with fewer regulatory constraints. Half of the buyers, with budgets from 2 to 3 million euros, are clearly set on poducing wine. The other 50%, prepared to pay at least 1 million euros, set their sights on a “hobby vineyard”, shared between wine production from about 5 hectares and a property for their own enjoyment. Foreign investors are still mainly European, as the Chinese focus more on the region around Bordeaux. A return on investment is not of paramount importance, with capital gains arising systematically from the real estate asset itself.
