Saint-Paul, a gem in a pastoral setting
Famous for its art-galleries, its tranquillity and unique quality of life, the village, well-protected by the sturdy ramparts built by François I, still has all the attributes of an old feudal town, as witnessed by its 12th-century church. All around, opulent villas are dotted in the hills.
The village itself is dedicated heart and soul to art. In addition to numerous artists’ studios, the Maeght Foundation hosts the greatest names of the modern era. Memories of Matisse, Modigliani, Chagall, Prévert, Giono, Signoret, Montand and Baldwin hover over café terraces and the cobbled streets.
“Saint-Paul’s property market is doing well,” states Sébastien Verdoucq from the Agence Burns. “We are not seeing a massive replenishment of stocks... Some potential buyers even leave empty-handed. Moreover, the prices that are posted remain stable. Since the crisis became official, only negociating margins, currently from 10 to 25 %, have increased significantly”. At one time, one out of every two clients were British. If they are still present, like the Americans, Anglo-Saxons no longer represent the majority. Scandinavians, Belgians, the Dutch, Germans and nationals of East European countries who are ready to leave the coast for authentic architecture and a countrified setting, are invading the site. Mr. Verdoucq describes five categories of products : village houses and apartments, priced from 300,000 to 1 million euros, appeal to lovers of old stones and a friendly atmosphere, a feeling one certainly finds on the central square and within the legendary Colombe d’Or. Then there are villas of less than 200 m2, two segments encompassing houses of 200-300 m2 and 300-500 m2, and properties of over 500 m2, which can range from 4,500 to 10,000 €/m2 depending on their location, view, construction and condition. The most expensive property can soar beyond 45 million euros. Recently, a house offered at over 15 million euros sold on the very first visit. The locals naturally fall into the 700,000-1.5 million euro range. All categories combined, the holiday home and the assurance of a very sound investment outweigh other motivations for buying. Located just 15 minutes from Nice’s international airport, between Cannes and Monaco, the commune of Saint-Paul flaunts its letters of nobility on an everyday basis. Enviably quiet, fiercely preserved and very well maintained, it is also easily accessible whatever the season.
“Les Hauts de Saint-Paul win all the votes,” says Gilles Pieri of Capital Immobilier. This gated estate offers the advantages of an elevated position, the attributes of an enclave which is not overlooked, high security and the guarantee of a certain kind of neighbour who can afford to pay from 2 to 45 million euros. Just below, the Chemin des Salettes offers larger grounds, whereas properties on the estate do not exceed 2,500 m2. A villa of 600 m2 with approx. 2.5 acres of grounds just changed hands at 7.3 million euros the first time it was visited. Closer to the fortified village, Les Gardettes and the Route des Serres play host to houses of very good quality worth 1 to 2.5 million euros, exceptions aside. Houses inside the medieval village range from 400,000 €, the amount required for 80 m2 in good condition, to 1.3 million euros which would bring 180 m2 on two floors extended by generous terraces enjoying a glimpse of the Mediterranean. Les Malvans and the area between Saint-Paul and La Colle, offering a price-range of 700,000 to 1.5 million euros, provide homes for the locals.
Apart from properties below 1 million euros, where a slowdown is noticeable, other properties have reacted very little to the global economic climate, especially those above 2 million euros. “Compared to the same period last year, the first half of 2009 has been better,” admits Gilles Pieri. Sven Ingwersen of the Michaël Zingraf agency also talks about very satisfactory results this summer, despite it being a traditionally quiet period. After visits in July, three transactions were concluded in August. A Russian and two French buyers acquired a villa needing some refurbishment and two properties ready to move in, from 1 to 2.5 million euros. Optimistic, this estate agent likens Saint-Paul to Mougins, pretty identical in terms of prices. The first does not suffer from any noise, the second compensates with nearby golf-courses. Between pastoral settings and sublime views of the sea, the choice is made depending on the attractions of entertainment centres. Fans of Nice and Monaco prefer Saint-Paul, those who prefer Cannes opt for Mougins.
By Laetitia Rossi.
