Saint-Tropez, an investment for personal pleasure
In the 1950’s, this little fishing port in the Var embarked upon a whole new destiny. Now a seaside resort of international renown, the town once dear to film-stars of the “New Wave” and the “Yéyé” generation has become the summer haunt of celebrities and captains of industry.
Limiting the very essential Saint-Tropez with its 4,550 inhabitants solely to its festive vocation would mean neglecting the very essence of the town, languishing on the Mediterranean shore, opening out to luxuriant nature and offering a quality life-style on a day-to-day basis. With its back to the hills, this crescent-shaped commune occupies an area of 2,737 acres. The main feature of its urban planning consists of villas set in large grounds, spread out around the historic heart of town and the Place des Lices. Its illustrious guests have included Guy de Maupassant, Paul Signac, Colette, Jean Cocteau, Arletty and Brigitte Bardot, who fell for its charm while shooting the legendary movie “And God Created Woman”.
”Charles Baudelaire’s comment, “Here, all is order and beauty, luxury, quietness and voluptuousness”, is perfectly fitting for the very glamorous Saint-Tropez,” says Delphine Blet of Showroom Immobilier. More than an address, Saint-Tropez is an art of living, to the taste of a demanding clientele equally attached to its well preserved environment as to the comfort provided by its properties. Each year, 5 million visitors invade the town. Close on 60 % of the housing is devoted to holiday use. While prices attain relatively high levels, buyers, now very realistic, are not prepared to pay over the top, not hesitating to make audacious offers. Estate-agents must not take on properties at any price but, on the contrary, inform, educate and temper any excesses. The least slip-up in an estimate will not be forgiven, but will contribute to the longer time it takes to sell. Only properties of sound quality, in good locations and in perfect condition escape tough bargaining. The Provençal style is now seen as old-fashioned, while contemporary homes can look forward to a rosy future. As building land is very scarce, buyers regularly launch into colossal renovations, even razing the existing property to the ground. The majority of demand lies between 2 and 5 million euros. A view of the sea starts at 10 million euros, a property at the water’s edge at 20 million.
“Despite the crunch and the uncertainty caused by the instability of tax legislation, the market is still active and properties find takers as long as they offer coherent value for money,” explains Pia Frei of Saint-Tropez Home Finders. Strongholds such as Saint-Tropez are seen as long-term reserve investments with prospects for future profitability. A villa of 160-240 m2 to renovate in grounds of 1,000-1,500 m2 over towards Sinopolis is worth 2 million euros. One would need to pay 5 million for a house of 220-300 m2 in perfect condition, in grounds of 3,000 m2. German and Swiss clients, the first benefiting from a relatively sound economy, the second from an advantageous exchange rate, self-employed professionals and company directors, all keep an eye on the market, drawn by bountiful nature and the golden sandy beaches of Pampelonne and La Moutte. Well-equipped with shops and amenities, Saint-Tropez has undeniable charm, even in the off-season.
Over the past two years, Savills French Riviera has handled several impressive sales, including one chalking up the highest price ever recorded on the peninsula. “In the same family for three decades, the historic property on the hill of Le Pinet, a real private estate on several acres of land, played host to the world’s most illustrious names before falling into the lap of a buyer from Eastern Europe.” Bound by confidentiality, Jean-Claude Caputo will say no more about the price. Except to add that “the top-end of the Saint-Tropez market is doing well, despite the various international crises”. Acquiring a home here means adopting a certain way of life, shared between moments of relaxation in the vineyards and festivities on the colourful port, from Easter weekend to the “Voiles de Saint-Tropez” sailing event. The bay of Les Canoubiers, Les Parcs de Saint-Tropez, Les Salins, Le Capon, Le Pinet, Bellevue and Saint-Anne top the popularity polls. Comparable to Cap Ferrat, Cap d’Antibes and Cap Martin, this destination attracts an even more cosmopolitan clientele, which includes the French. The market for apartments is also buoyant : an example of 100 m2 in a recent residence, not necessarily in the most highly-rated neighbourhoods, starts at 800,000 €.
By Laetitia Rossi
