Cap Ferrat, the secret of the exception

One hundred and fifty villas, a few apartments at the entrance to the cape or in the village, and international renown... The idea that rarity makes for an exclusive market is certainly borne out on the most highly-prized peninsula in France.

Independent since 1904, the commune of Saint-Jean-Cap-Ferrat has been the subject of many articles : its illustrious residents, its dizzy prices per sq. metre, “the most expensive in France”, according to some. It’s not easy, however, to be absolutely sure, for here discretion is the golden rule. Information one takes for granted may belong to the past, with the present diluted into a tale somewhere between reality and myth. A respect for privacy, as high as the hedges surrounding these sublime properties, is an essential requirement for those who live on Cap Ferrat.

Even on Cap Ferrat, architects sometimes dare to opt for contemporary styles. As in this house of 190 m2 (5 bedrooms, one self-contained) in grounds of 3,600 m2. Original rhythm, different levels and uncompromising geometry. The Mediterranean is an idyllic extension of the pool. Here, one can move around at leisure. Two steps and one passes from the lounge to the dining-room, a few more steps and one can see the kitchen. A bedroom merges into its bathroom, another counts on its dressing-room to separate it from the room dedicated to ablutions. White wins the day. The house reminds one of Le Corbusier : architecture at the service of practicality... Rental price : about 50,000 €. Agence du Littoral (04 93 01 23 23).

You can hear the undertow from the main entrance. After taking the stairs with their superb marquetry, you finally see it. The Med as far as far as the eye can see, the waves breaking on the Cape and rushing into the Rade de Grasseuil. Surprisingly, this property at the water’s edge combines the advantages of an apartment (in the main building) and those of a villa (in that dedicated to house-guests). Access to the sea is provided by a private landing-stage. In the master residence of 190 m2 (4 bedrooms), the Renaissance style goes hand-in-hand with the “Belle Epoque”. Inside one finds Corinthian columns, marble and mosaic floors, painted ceilings and hand-carved wood. In total contrast, the guest cottage of 180 m2 (3 bedrooms plus 2 independent studio flats) has adopted a more countrified style, comfortable and welcoming. 8,500,000 €. Lorenza von Stein (00 377 97 97 02 77). Correspondant français : Côté Sun.

This “Belle Epoque” villa of 400 m2 (5 bedrooms) in 2,000 m2 of grounds features large balustraded terraces, a frieze and a double stairway to reach the pool. The interior has been treated to very successful renovation. Next to the triple lounge with its two fireplaces, a room, between a boudoir and a winter garden, offers all the charm of yesteryear. Rental price : from 50,000 €. John Taylor (04 93 76 02 38).

Donatella Moja of the John Taylor agency describes the various kinds of villas. 1.8 to 2.5 million € will buy a small house requiring refurbishment, without a view or just a glimpse of the sea. Such properties never stay long on the market and attract two types of clients : the first wanting to renovate and re-sell, the second knowing that this is his only chance to acquire a property on the Cape. Houses of 200 to 250 m2 with a view and level grounds fetch from 3 to 5 million €. Here again, they are sadly lacking, with average budgets ranging from 4 to 7 million €. Beautiful villas of 300 to 400 m2 in grounds of 2,000 to 2,500 m2 with magnificent sea views can be found from 8 to 15 million €. A property right at the water’s edge with park and pool – something rare, even on the Cape – will be tagged at over 20 million €. Donatella Moja estimates that there are about 20 properties currently for sale.

Jean-François Dieterich of the Agence du Littoral completes her analysis : “For the past three years, agencies have observed that properties between 2 and 3 million € are getting rarer. Most of what’s available is priced between 4.5 and 10 million €. And with grounds of more than 2,500 m2, in an ideal location, one can expect prices from 10 to 30 million €. Of course, this price-range, already very wide, does not include the exception. Out of 500 villas, less than 6% come onto the market per year. More affordable, an apartment without a view and requiring refurbishment costs an average 5,000 € per sq.metre. But on Cap Ferrat, the urban zone is very small and middle-range residences built from the ’50s to ’70s only offer smaller flats. In fact, it’s hard to find anything over 75 m2. Under pressure of demand for larger surface areas, this phenomenon should be corrected in the years to come. An apartment in good condition facing the sea costs from 6,000 € to 10,000 € per sq. metre”.

The manager of this agency which has been based on Cap Ferrat since 1946 also points to a general rise in prices of over 50% during the past five years, with top-notch properties and the best locations posting an even steeper rise. Over the last decade, Cap Ferrat has outstripped Cap d’Antibes in terms of prices. Donatella Moja nevertheless advises buyers to exercise caution : in the past few months, there has been slower demand for lower and mid-range properties and more demand for real estimates, which indicates the arrival of new products on the market in the near term and thus a less significant rise in prices than has been seen hitherto.

Clients are mostly foreigners looking for holiday homes. Cap Ferrat plays host to the English, Irish, Americans and Russians, and still a few Italians ; to a lesser extent, Belgians, Swiss and Germans. Jean-François Dieterich puts the recent rise in Irish buyers down to tax changes in their home country. “Fewer than they were two years ago, clients nevertheless have higher budgets,” remarks Donatella Moja. Angela Kleiber of the Lorenza von Stein agency agrees with the John Taylor agency and the Agence du Littoral regarding the reasons for Cap Ferrat’s popularity : “A sea view is a priority, and security, an area in which the authorities have made considerable effforts, is an undeniable advantage. In the village, still as authentic as ever, life is very enjoyable. And while grounds are smaller than those on Cap d’Antibes, the scenic views of the Mediterranean, the view of the cliffs along the coast and the luxuriant vegetation all compete in natural beauty. Cap Ferrat’s geographical location, between the international Nice Côte d’Azur Airport and the Principality of Monaco, also guarantees the presence of an elegant and wealthy international clientele”.

From very early on, this glossy clientele has played its part in Cap Ferrat’s renown. Nicolas II, Empresses Eugénie, Elisabeth of Austria and Marie of Roumania, James Gordon Bennet and especially Leopold II of Belgium and Béatrice de Rothschild have all lived here. The post-war era (1939-45) also brought its lot of celebrities : Charlie Chaplin, David Niven, Elisabeth Taylor, Gregory Peck... Presidents of France were great fans of the Cape : Vincent Auriol, René Coty, Charles de Gaulle, Giscard d’Estaing. Writers also liked to retire here : Somerset Maugham, Blaise Cendras, Armand Lanoux, Alain Decaux, as well as actors and artists : Jean Gabin, Jean-Paul Belmondo, Gilbert Bécaud, Charles Aznavour, Jacques Tati, Bourvil, Jean Marais and Jean Cocteau. Some properties recall this Golden Age : the villas Baïa deï Fiori, des Cèdres and Fiorentina, Le Trianon and Lo Scoglietto. Esteemed architects added yet more prestige : Oscar Niemeyer drew the plans for a property on the Pointe Saint-Hospice, Norman Foster built La Voile and a pupil of Le Corbusier designed La Ligne Droite. Svetchine father and son also deployed their talent here. Finally, we owe the protected setting and discreet integration of buildings to the vigilance of Les Bâtiments de France and various environmental associations. Cap Ferrat is partly a classified site (building permits subject to the DDE and Les Bâtiments de France) and partly a village site.

“The occupancy rate for seasonal rentals of villas is 90% during the two summer months, 50% in June and September,” says Jean-François Dieterich. “Expect to pay at least 30,000 € and an average 70,000 € per month in the high season,” adds Donatella Moja. Fans of apartments pay 2,000 € for a 1-bedroomed flat and 7,000 € for 90 m2. There are very few attractive flats in apartment blocks - but really exceptional accommodation in private properties.

Par Laetitia Rossi - Photos Edith Andreotta