Grimaud, a stable market
This commune with 4,240 inhabitants has three distinct facets : the medieval village surveying the canal resort of international renown, and the shoreline neighbourhood of Beauvallon. An essential part of the Gulf of Saint-Tropez, Grimaud is popular among fans of peacefulness and privacy.
Located 12 km from Sainte-Maxime, the old village of Grimaud clings to the hillside and spreads out from the castle and Romanesque church. Its history dates back to the Gallo-Roman era. In the Middle Ages, this little spur drew the attention of military strategists wanting to protect the coast from marauders from the sea. Construction of Port Grimaud began on marshy land in 1966. François Spoerry dreamt up “a village as it would have been if architects had never existed. A site from the past, but in tune with people and things of today”, ie. 12 km of quaysides, squares dotted with boutiques and cafés, lush gardens, intimate and colourful buildings. Germans acclaimed the marina, rid of cars, before handing on the torch to the British, Belgians and French. Beauvallon, sometimes associated with Sainte-Maxime, offers a beach, golf-course and a first-class private estate. Facing south, the site enjoys a fabulous view of the Mediterranean and Saint-Tropez. “Without being far from the magnet which is Saint-Tropez, Grimaud flourishes beyond the notorious traffic flows on the coast in summer,” says Philippe Jager of Jager Immobilier. The village attracts dedicated fans of serenity and discretion, mostly French, but also English, Belgians and Dutch, not too fond of ostentatious luxury, the prerogative of its illustrious neighbour. A village house of 100 m2 extended by a terrace starts at 550,000 ?, a villa of 250-300 m2 in grounds of 2,000-3,000 m2 at 1.3 million €, with the average transaction concluded at around 900,000 € in the surrounding countryside. Jager Immobilier is about to market “Les Treilles de Grimaud”, 25 units scheduled for delivery in June 2010, with living space of 130 to 150 m2 and gardens of 800 m2, from 700,000 €, an intermediate price in fact poorly represented in the area. Considerably higher, prices posted in Ramatuelle and Saint-Tropez bear no comparison, just like the heterogeneous character of real estate in Saint-Maxime. Gassin, which suffers from heavy traffic in summer, is more expensive for equivalent quality, a fact simply justified by its being on the border with Saint-Tropez. Situated at most a 30-minute drive from the entrances to the motorway, regardless of the season, and less affected by tourist affluences than the coast, Grimaud benefits from the numerous shops and amenities in Cogolin.“Grimaud enjoys the gulf’s renown and offers its residents the chance to make the most of festivities in Saint-Tropez without nec-essarily having to endorse the bling-bling life-style,” points out Hugo Skillington of the agency of the same name. Port-Grimaud is a barometer of economic health. Highly responsive to ups and downs in international finance, this micro-market is a good indicator of prevailing trends. Purchasers here worry about getting a boat mooring before opting for a property. The square metre sometimes costs two to three times more than in the old village, but it does include the cost of the mooring. Refurbished as new, an apartment of 95 m2 opening out to a terrace and a pontoon 11 x 3.20 m thus attains 995,000 €. A house of 250 m2 which can accommodate a 25-m boat changes hands at around 4 million €. Céline Delbergue of Chesterton Immobilier has been asked to find a property of 150-200 m2 (three/four bedrooms) at the edge of a canal. The purchaser is willing to invest up to 3.5 million €. It just remains to find the property, rare on this market more characterized by small surface areas. “Some high-flying examples also exist in the hills,” adds Hugo Skillington. Last year, a magnificent farm with 6.25 acres of land sold for 7 million €. Today, a seller is asking 13.5 million € for a 19th-C. building in grounds of about 47.5 acres, including an olive-grove and a vineyard which generate enough income to cover almost all the maintenance costs. The same goes for Beauvallon : the cocktail composed of beaches, sea view, golf-course and southern orientation costs from 1 to 8 million €. “At prices between 1.5 and 3 million €, the outskirts of Sainte-Maxime still attract a lot of interest,” says Céline Delbergue. “Beyond that level, they begin to compete with Saint-Tropez, still cons-idered as the most select address.” This estate-agent recently sold a villa of 150 m2 in grounds of 2,000 m2 with sea view for 800,000 €, though 300,000 € needed to be spent on refurbishment. On the hills, houses are becoming bigger and panoramic views are automatically reflected in the prices. Against all expectations, estate agents say they are fully satisfied with the first quarter of 2009. “In fact, since late 2007, stocks of properties under 1 million € have been replenished, while demand is still somewhat timid. The crisis has had the effect of cleaning out files and adjusting prices that today are perfectly stable. From all points of view, the situation is different from the collapse we saw in the 1990’s,” says Hugo Skillington. “Here, no-one proceeds in any urgency nor under coercion. Negotiations take place within the limits of decorum. The number of visits and transactions is explained by a return to property and land, tangible assets, and a preference for destinations that are safe both politically and economically - such as France, the Var and the Gulf of Saint-Tropez.”
By Laetitia Rossi
