Seasonal rentals in the Alpes Maritimes and the Var
The “Côte d’Azur”, now a well-known expression that we owe to the writer Stéphen Liegeard, welcomed 14 million tourists in 2006. In the autumn of 2008, the stock markets collapsed and the media announced a worldwide recession. Today, activity seems to be getting back on its feet. Our estate agents fill in the details…
According to the WTO, global tourism grew by almost 7 % in 2010, with 935 million arrivals recorded. The result is, however, higher in emerging economies : + 52 % in Brazil, + 28 % in Saudi Arabia, + 26 % in Russia, + 17 % in China, versus + 9 % in Australia, + 8 % in Canada, + 7 % in Japan and + 4 % in France. Last summer, observers for the Provence-Alpes-Maritimes-Côte d’Azur region reported higher occupancy rates in 3-, 4- and 5-star establishments as compared to more modest hotels, on the coast as compared with the countryside and mountain areas, and in the Alpes Maritimes as compared with other “départements”. According to the INSEE, the number of hotel nights on the Côte d’Azur were up 7.7 %. Two-thirds of these visitors stayed on the coast, 42 % were foreign. Out of ten persons interviewed, seven then considered the fall to have been a relatively good season, thanks to fine weather in September and business tourism. On the downside, the All Saints’ Day holiday in November fell foul to strikes, fuel shortages and bad weather. 80 % of the 150 members of the tourist industry interviewed in skiing resorts this winter are satisfied with the Christmas fortnight, pointing, however, to an imbalance in favour of the second week explained by calendar dates. The Riviera’s tourist sector provides 110,500 direct jobs, a factor allowing the area to claim second place after the Parisian region. The clientele is apparently “family-oriented, socially comfortable, belonging to upper professional ranks and aged about 42 on average”. A survey conducted by the Tourism Observatory in 2002 and 2003 revealed that out of every ten visitors, eight were French (including two from the PACA region itself, two Parisians and one from the Rhône-Alps). Foreigners often come from Italy, England, Germany or Belgium. All categories combined, they spend about 9.9 billion euros. Finally, nearly a quarter of visitors stay in hotels or furnished flats.*
Jacqueline Swaep, who handles rentals in the area around Cannes for the John Taylor group, confirms improved results for 2010 and optimistic forecasts for the current year. The last summer holidays produced an occupancy rate for private houses, prefer- ably contemporary villas, of 80 to 90 %. The average cost per month ranges from 40,000 € - the amount required to rent a 4-bedroom villa in Super-Cannes or La Croix des Gardes - to 100,000 € - a sum corresponding to more extensive living space and grounds, as well as the privilege of a view of the Med. Cap d’Antibes follows exactly the same curve with prices rising from 60,000 to 300,000 € per month. In Mougins, the season is shorter, strictly concentrated on July and August, with prices ranging from 20,000 to 60,000 €, exceptions aside. The French, East Europeans, and the British and Americans to a lesser extent, like the concept of seasonal rentals accompanied by service, as much as the destination itself. The summer season now seems now more fruitful than congresses, largely monopolized by hotels. MIPIM 2010 still brings some clients, unlike the International Film Festival. In the case of the first, a 3-bedroom apartment of 100 m2 facing the Palais des Festivals rents for around 20,000 € per week. The same accommodation, just two streets back, drops to 5,000 € per week. During the Film Festival period, the price-grid ranges from 15,000 to 40,000 € for a 10-day stay. Obviously, apartment buildings in the “right part of the Croisette” still boast an occupancy rate of 90-100 %, whereas villas, only occupied at night, are struggling to find takers. The MIPTV and MIPCOM events still have a positive impact on the rental market, which is no longer true in the case of the MIDEM, Tax Free World Exhibition or International Boat Show. Enquiries start to roll in around mid-January, the date by which loyal customers have already booked their summer quarters.
Based in the “Golden Triangle” of Saint-Jean-Cap-Fer-rat/Villefranche/Beaulieu-sur-Mer, Frédérique Mathias of the Azur Méditerranée agency emphasizes the excellent health of the middle and upper echelons of rented accommodation in summer, a fact no longer applicable at all to the Formula 1 Grand Prix in Monaco. On this cape blessed by the gods, the prestige sector starts at 100,000 € per month in the high season. A sum allowing for at least five bedrooms, sea view, a beautiful pool area and on-site staff. In Villefranche and Beaulieu, most transactions are in the 50,000 to 100,000 € bracket. In addition to her traditional clientele, fans of yachting largely turning towards the Principality for their night-life, Frédérique Mathias mentions the arrival of Israeli clients. As for the French, they share the market for apartments, from 2,000 to 10,000 € per month, or up to 20,000 € in exchange for roomy living space on Cap Ferrat. After a decline of 30 % in the case of some properties as compared with prices seen in 2008, the market is now holding steady. A few customers dare to make offers, not systematically accepted by the owners. 2011 holds out a lot promise, with contracts already signed. The “Golden Triangle” suffers, however, from competition from Cap d’Antibes and increasingly from Saint-Tropez.
Françoise Eret from the Interfirst Agency in fact covers the gulf of Saint-Tropez, from the fishing village so dear to Paul Signac, and Brigitte Bardot in Ramatuelle, to Gassin, the most affordable of the three. She entirely agrees with Frédérique Mathias on the seesaw effect between this party-loving destination and the select capes in the Alpes-Maritimes. The average rent ranges from 70,000 to 100,000 € in the summer months. A budget entitling the holiday maker to living space of 500 m2, a privileged address on a gated and guarded estate or near a beach with ultra-trendy interior decor, showroom-style, as opposed to the highly personalized Provençal villas so popular in previous decades. The culture of service is also becoming a major factor, implying a cleaning lady, cook/chef, even a chauffeur and butler. These clients spend more and more time within the properties and cultivate the French art of living. “They are all rented, every year. We simply have to share the cake between agencies, more and more numerous, not forgetting international networks, which are particularly active,” comments the manageress of an agency with long experience in the habits and customs of East Europeans. Clients here are not so volatile. If they spend a season in Ibiza, Marrakech or the Luberon, they soon come back to soak up the unique atmosphere of this legendary fishing port.
• Source : CRT (PACA Regional Tourist Board)
By Laetitia Rossi
