A view of the sea
On the Côte d’Azur, a view of the Mediterranean accounts for 30 to 40 % of a property’s value. From Cannes to Roquebrune-Cap-Martin, from seaside towns to hilltop villages, there are countless picture-postcards in which it plays the starring role.
After the capes, the most sought-after feature among wealthy, international buyers is a view of the sea. They travel thousands of miles to catch a glimpse of the Med and it tops their selection criteria for a holiday home. “Russians and other East Europeans literally melt for the region around Cannes, and especially the “Golden Strip” stretching from the Croisette to the Chemin des Collines via La Californie and the Corniche du Paradis,” says Jean-François Favelier, co-founder with Maria-Anna Burger and manager of the Burger Sotheby’s International Realty group. From these highly-prized neighbourhoods in the Festival City, one can contemplate the Bay of Cannes, the Lérins Islands and the Estérel hills at leisure. In La Californie, apartments in residences with pools range from 8,000 to 15,000 €/m2. Luxury apartments on the Croisette can soar to 20,000-30,000 €/m2. Potential buyers looking for large surface areas come up against a penury of offers. On the Corniche du Paradis, the majority of villas are priced within a range of 4 to 6 M €, corresponding to living space of 300 m2 in modestly-sized grounds. Prices rarely go beyond 20 M €, a budget corresponding to over 500 m2 with grounds of 5,000 m2 and more. The prices of some properties, however, such as the Palais Oriental, Palais Florentin, Bagatelle and La Tropicale, are literally soaring. Le Cannet and Avenue Victoria enjoy magnificent plunging views. A detached house of good quality starts at 2.5 M €. Abandoned by locals and adored by foreigners, La Croix-des-Gardes, Avenue Jean de Noailles and Boulevard Leader overlook the old town of Le Suquet, natural greenery and the beaches. Some fine specimens are to be found here, with a starting-price close on 2 M €. Super-Cannes flourishes on the commune of the same name, but also on that of Vallauris and Golfe-Juan. Ready to spend from 2 to 2.5 M €, puchasers appreciate the quiet setting. Especially as prices here haven’t risen to the same extent. A few fans of bluish views head for the southern slopes of Courteline, in Mougins. Happy with the backcloth, they forget the noise and the main road which sometimes creeps into their field of vision. Expect to pay 2.5-4 M €, or even 5-6 M € when the villa doesn’t overlook the road and benefits from quiet surroundings. Connoisseurs prefer the off-season with a Mistral wind, a basic requisite for a clear and spectacular view. There’s no need to be close to get a good view : 14 km separate Tourrettes-sur-Loup from the sea. Yet it acts like a magnet on this rocky spur, in fact a charming medieval village, 30 mins. from Nice’s international airport. According to Fiona Beric of the agency Riviera Estates Savills, homes surveying the deep blue sea cost from 2 to 7 M €. At the moment, 6 M € is the price-tag on a property built by Robert Dallas, the specialist for neo-Provençal villas : it offers 460 m2 in grounds of 5,100 m2 with a pool, tennis court and guest accommodation. The “Domaine de Vignons” proposes five villas of 275 m2, also designed by Robert Dallas, with gardens of 2,500 m2 facing the shore, at under 3 M €. The “Baous” (ancient cliff formations) near Vence are very popular for similar reasons. “Beneath the Château Saint-Martin, you come across large properties costing up to 10 M € or more. Here, Anglo-Saxons and Scandinavians indulge their taste for the ambiance of Provence, peacefulness and dazzling views,” says Olivier Morvan of Riviera Estates Savills. He also says that the phenomenon is even more marked in Les Hauts de Saint-Paul, a gated estate with 200 villas close to the Mas d’Artigny hotel. Priced between 3 and 25 M €, most of them overlook the countryside and shoreline between Monaco and the Estérel hills. “Of all the neighbourhoods in Nice, Mont-Boron, 15 minutes from the airport, offers the loveliest panoramic sea views,” says Benjamin Mondou of Lafage Century 21. 80 % of buyers are English, Irish, Russian and Scandinavian. Apartments range from 6,000 to 10,000 €/m2. The lowest price for villas is 2.5 M € though they can soar, exceptions aside, to 10-12 M €. The view is definitely the main topic in any discussion, preceding the villa’s condition, orientation, exposure to noise, even its historic interest. Here, the view encompasses the yacht harbour, the Colline du Château, the Bay of Angels and the roof-tops of the capital of the Riviera. Neighbouring Villefranche-sur-Mer prides itself on having a quayside so beautiful that it is in fact unrivalled. “The upper part of the Domaine du Castellet, an estate with about 75 houses, opens out towards the Cap de Nice and as far as the Estérel hills, from the town dear to Jean Cocteau to the rocky spur of Èze-Village. A property of 400 m2 recently found a taker at 7.9 M €. Between the Basse and Moyenne Corniches, the highly residential Boulevard Settimelli-Lazare overlooks the beaches and town centre. A renovated apartment prolonged by a terrace overlooking the sea will cost 8,500-9,000 €/m2. Individual properties are getting close to 15,000 €/m2,” comments Sandrine Allari of Riviera Estates Savills. Thierry Petoin of the Bristol agency describes the seafront of Villefranche as a sector of predilection among aficionados of shoreline scenery. An apartment with three main rooms, ie. living space of 77 m2, in impeccable condition, with a garage, recently sold for 11,500 €/m2. In the case of villas, a sea view is worth from 10,000 to 20,000 €/m2, 15,000 € on average, a price synonymous with excellent appointments. This agent mentioned a slight defection just recently on the part of the British, suffering from the exchange rate between the pound and the euro. More elderly clients are extremely fond of Beaulieu-sur-Mer, very practical thanks to its flat layout and home to a unique heritage dating back to the “Belle Epoque”. Facing the horizon, Boulevard Edouard-VII boasts residences with price-tags of up to 30 M €. Only slightly built-up, La Petite Afrique compensates for smaller gardens by being right at the water’s edge. Here, Russian and Saudi Arabian clients don’t flinch at spending 25 M €. In Beaulieu, a view of the sea is probably less important than in Villefranche. Purchasers give priority to being close to shops and like the village atmosphere. “We have just sold an apartment of 200 m2, without a sea view, in a “Belle Epoque” residence in the centre, for 10,000 €/m2, and a villa, with just a little glimpse of the Med, for 11,500 €/m2,” confides Thierry Petoin. By becoming a home-owner in Eze, Bono, the vocalist in the U2 band, has boosted its reputation. “For the past five years, the market has been riding the wave of success,” confirms Sandrine Allari. Houses of 200-250 m2 are anchored to the hill overlooking Cap Ferrat. A restored and functional property will find a buyer for around 4.8 M €. A residence with direct access from the sea is estimated at 27 M €. Enthusiasm for Cap d’Ail is not solely explained by its views of the Med. Its proximity to Monaco is an important factor in its popularity. Relatively rare on agents’ books, apartments on the hills range from 8,000 to 10,000 €/m2. Villas beneath the Basse Corniche account for a very steady market. Expect an asking price of 30 M € for a “Belle Epoque” property of 600 m2 requiring total refurbishment, with a park laid out in terraced embankments. Just as close to the Principality, Roquebrune-Cap-Martin is a superb example of the Alps meeting up with the sea. Italians are keen to invest here, a stone’s throw from the border, with a wide investment range, from 1.5 to 20 M €. For 15 M €, you can move into a home of 450 m2 with modern amenities and flat grounds. A sea view thus remains in high demand but will not suffice to close the deal. “It completes the unique character of a property wonderfully well, though the top end of the market on the Riviera, less affected by slowdowns, always maintains its appeal,” concludes Jean-Claude Caputo, General Manager of Riviera Estates Savills.
By Laetitia Rossi.
