Capes in the 06 and 83
The Alpes-Maritimes and the Var benefit from a beautiful seafront served, among other things, by a busy international airport. The capes are the highest expression of a wonderful life-style on the Côte d’Azur. Cap Ferrat, Cap d’Antibes and the Saint-Tropez peninsula are envied all over the world.
Well before its independance acquired in 1904, Cap Ferrat was just as select and famous as Cannes, drawing celebrities and the international intelligentsia. The Russians got things going, with the Brits in hot pursuit. The descendants of Queen Victoria turned up, together with Hélène of Serbia, the sovereign of Romania, Empress Eugenie and Elisabeth of Austria. Nietzsche and Apollinaire expressed their fondness for the cape, while King Leopold II of Belgium treated himself to a good chunk of the west side, including the “Domaine des Cèdres”, “La Radiana” and a residence later acquired by Estée Lauder. Romy Schneider married the German film-director Harry Haubenstock at the town-hall of Saint-Jean. Built on the highly sought-after Pointe Saint-Hospice, “La Fiorentina” was a favourite haunt of the Kennedys, Elisabeth Taylor, Greta Garbo and Somerset Maugham. Vincent Auriol, Charlie Chaplin and David Niven preferred the “Fleur du Cap”, a property right at the water’s edge, while Paul Allen moved into “Maryland”. Cap d’Antibes starts at La Garoupe and ends in Juan-les-Pins, the seaside neighbourhood of the second largest town in the Alpes-Maritimes. It’s hard to imagine that without the intervention of James Wyllie, eager to introduce roses in the late 19th century, it would still be a pile of rocks of very little interest. Meilland, Leonetti, Astoux and Richardier went on to cultivate roses with great success. The botanist Thuret planted palms and eucalyptus trees. The Anglo-Saxons built beautiful villas. In 1870, the prestigious Hôtel Eden Roc opened its doors. Then, in the 1920’s, jazz musicians flocked to the cape. After the Second World War, sumptuous properties replaced the greenhouses. And during the last decade, the Russians gave further proof in this area of their historical fondness for the Côte d’Azur. Today, Cap d’Antibes is home to 4,000-5,000 houses. Artists, celebrities from show biz and sport, industrialists and specialists in communication from all over the the world acclaim the peninsula of Saint-Tropez. Its renowned establishments and parties hit the headlines in the celebrity press, never altering the quality of life offered by this authentic village in the Var, discovered by Signac, Bonnard, Marquet, Matisse and Picabia, revealed to the public by Brigitte Bardot and adored by the New Wave, the “Yé-Yés” and all the world’s top personalities ever since. The quality of the town’s infrastructures is matched only by the beauty of its natural environment, from the beaches of Pampelonne to the vineyards, and from the colourful harbour of Saint-Tropez to the hill-top villages of Gassin and Ramatuelle. “With its 625 acres and strict planning regulations, Cap Ferrat is undoubtedly the most exclusive of the three addresses. The airport is 30 minutes away, Nice and Monaco only 15 minutes. Over the past few years, the authorities have focussed their attention on security, a recurrent criterion among client concerns,” notes Jean-François Dietrich of the Agence du Littoral. The minimum plot required to obtain a building permit is 1,500 m2, though there are still zones applying 10,000 and 20,000 m2. On the strength of its 140,000 m2 of gardens, “Le Domaine des Cèdres” breaks all the records. Prices are high and land is a basic value, together with a view of the Mediterranean. The most modest house of 150 m2 awaiting refurbishment in grounds of 1,500 m2 without a view commands 2-2.5 million euros. Over the past 16 months, the number of transactions has dropped 50 %. A second wave of East Europeans are buying family properties facing the sea from 5 to 15 million euros, systematically demanding a reduction of around 20 %. The pound sterling and the dollar are still too weak to contemplate the return of the British and Americans. Even if our estate-agent is already receiving some enquiries via the Internet, Easter should be more revealing about the year 2010. The summer of 2009 was a good vintage for rentals, though not overly euphoric. As heterogeneous as one could wish, rented accommodation commands from 10,000 to 150,000 € per month in July or August. Quite frequently, this type of vacation, like stays at the Grand Hôtel du Cap, La Voile d’Or or the Royal Riviera, is a stepping-stone leading to property acquisition. “During the crisis, sellers on Cap d’Antibes made their intentions abundantly clear : they get more or less the price demanded or withdraw their property from the files,” says Aurélien Monnier of the Agence du Cap d’Antibes. The result : a quiet first half and unanswered offers 30 to 40 % under the prices posted. More active, the second half of the year was compensated for by rental business and a few sales completed at prices prevalent in 2008 less 20-25 %. Most of the deeds signed by Italian or French buyers ranged from 1 to 4 million euros, budgets bringing living space of 150-200 m2 in gardens of 1,500 m2, to renovate or in satisfactory condition. Aurélien Monnier admits there was little interest, due to a lack of “good products”, between 4 and 6 million euros. If, as on Cap Ferrat, the security of the investment is no doubt, prices are currently 20-30 % lower, a difference largely explained by the more built-up appearance of Cap d’Antibes. “Saint-Tropez is mainly distinguished by its clients, so very special”, comments François Michel of the Emile Garcin agency. Just as international, they spend two to three months a year on the cape, more often in summer, a period much shorter than those recorded in the Alpes-Maritimes. With an average age of 35 and recently expanded by the Internet or other means of communication, this clientele appreciates the unique cocktail of partying and nature, entertainment and peaceful relaxation. Enjoying the village atmosphere, a great advantage of this peninsula in the Var, northern Europeans rub shoulders with East Europeans, admittedly less numerous than in the past, and seek almost instantaneous convenience. Personal enjoyment is an important factor in their decision-making, the concept of investment less pronounced. The average budget ranges from 5 to 10 million euros. For 5 million, one gets a glimpse of the deep blue sea, for 7 million euros, a proper view, and for 10 million, it’s part of the decor. In 2008 and 2009, prices, which had reached artificial levels, saw a logical correction. And fine properties continued to sell. In fact, Emile Garcin frankly admits that turnover was maintained. Over recent months, the market has refocused on properties ensuring real peace of mind. Unless massive efforts are made by sellers to lower thir prices, mediocre or so-so properties will not find any takers. Some buyers capable of paying 2 to 4 million euros abandon their project in Saint-Tropez, aware that they can obtain for the same price a very lovely home on the Giens peninsula or Cap Bénat, a site that is extremely popular among the French.
By Laetitia Rossi
