Roquebrune-Cap-Martin, at the gateway to Monaco
A neighbour to the Principality of Monaco, Roquebrune-Cap-Martin is a modern town, but also a magnificent hill-top village with an ancient castle. It is in fact comprised of three sectors : the cape, Carnolès and Saint-Roman… Micro-markets which appeal to an international clientele looking for second residences, or year-round homes in the case of those working in the micro-state.
Dating back to the Carolingian era (9th-10th C. A.D.), the old village is perched at an altitude of 225 metres above the Mediterranean, just below Mount Agel. The main road separates the historic village from the new town, about 200 metres lower, home to 12,650 inhabitants. The cape is as popular as Carnolès, which accommodates schools and the majority of the population. The Saint-Roman neighbourhood plays host to the tennis courts of the Monte-Carlo Country Club.
“The appeal of Roquebrune-Cap-Martin is closely linked to the magnetism of the Principality of Monaco,” says Jean-Yves Le Graverend of the John Taylor agency. This town at the far eastern end of the Alpes-Maritimes does not merely content itself with a shared border, but also offers magnificent views of the world’s second smallest state after the Vatican. It has two main property markets. Gated and guarded, the private Domaine du Cap Martin consists of about 30 historic properties, including a dozen right at the water’s edge. Without a sea view, living space of 500 m2 here, in grounds of 2,000 m2, will cost around 10 M €. You will need 40 M € to set your sights on a property at the water’s edge. Even then, potential buyers come up against a chronic phenomenon of scarce availability. These properties remain family assets, passed on from one generation to the next. Mostly European, clients of the Domaine often already own an apartment in Monaco. The rest of the town offers lots of advantages, yet buyers visit, compare, hesitate, and clearly have the upper hand when it comes to bargaining. They also frequently conduct their searches all around Monaco, an undeniable hot-spot for culture and entertainment, in Cap d’Ail, La Turbie, sometimes Eze or Beaulieu. Further away and more reserved for people working locally, Menton is not a competitor. No more so than Beausoleil, which has no vast villas. Jean-Yves Le Graverend mentions a few transactions in Le Hameau, on the hills, overlooking the sea and cape, where properties of quality range from 1.5 to 5 M €. One example is a villa of 500 m2 in need of a minor revamp, set in grounds of 2,000 m2, which sold for 4 M €.
“Outside the private estate, the cape proposes villas of 200 to 300 m2 priced around 2.5 M €, with some renovation to be expected, but enjoying views of the Bay of Menton,” explains Catherine Laroche of Cap Martin Properties. Quietness, flat grounds, being within walking distance of shops and the sea are all recurrent items on clients’ lists of criteria. Next to Le Hameau, La Torraca enjoys views of Menton and Monaco, the latter being more highly-prized as it comes with lovely views of the setting sun. Clients from Italy, Great Britain, Belgium, the Netherlands and Monaco are fond of this neighbourhood. As are a few Russians, usually more inclined towards locations close to the water.
Buyers from the Middle East, Dubai and Qatar, also show an interest in Roquebrune-Cap-Martin. The market for apartments is also very active. In the gated Country Park residence, benefiting from a park and pool, a property may well attain 15,000 € per sq. metre, reflecting the combination of a sea view and being within walking distance of the Principality. On the cape itself, prices for apartments are around 8,000 € per sqm. without a sea view, about 10,000 € per sqm. with. Penthouses are rare. As soon as one with a view of Monaco becomes available, its price will also be close on 15,000 € per sqm.
“The market for villas of quality - in other words, those priced from 1.5 M € - is pretty lively. Though above 2 M €, local buyers become much rarer,” adds Stéphane Antonucci of Sud Rivages. In Roquebrune-Cap-Martin, differences in prices are significant depending on neighbourhoods. A view of the sea and Monaco stirs interest and is always seen as a bonus. Apartments on the Plateau du Cap are also very popular. Residences with gardens and pools post prices here from 6,000 to 10,000 € per sqm., depending on their condition, orientation and view. With lots of natural greenery, Roquebrune-Cap-Martin can count on quality living conditions at the gateway to the Principality, assets it shares with Cap d’Ail.
