The luxury property market in Mougins
Just a few minutes from Cannes and its bustling atmosphere, Mougins is an invitation to the quiet life. Nestling amidst natural greenery, blue skies and the Mediterranean, this very cosmopolitan village plays the ace of discretion. While its superb villas and other top-notch properties are far from rare, ostentation is banished here.
Mougins is a commune of about 63.33 acres, home to 19,929 residents. Its authentic village offers pleasant strolls through narrow streets and a surprising walk along a stream with no less than 19 fountains and old wash-houses, as well as numerous restaurants and a score of art-galleries. Gastronomy and art are, in fact, part and parcel of the local landscape. Already in 1924, Francis Picabia, then an avant-garde Surrealist painter, fell in love with Mougins and decided to build a house. He was the first artist to settle here, followed by others, including Pablo Picasso, who spent the last 12 years of his life here. Professionals in the real-estate sector are unanimous : Mougins is a desirable address, the “Neuilly of the Côte d’Azur” as described by Michel Brévier of Label Properties. French and foreign owners share the market and buy as connoisseurs. They are dedicated fans of the Riviera in general, and Mougins in particular. They opt for different neighbourhoods, knowing that the eastern part of the commune is the most highly sought-after, and consequently the most expensive.
The old village is a niche market. It mainly attracts foreigners in search of a pied-à-terre : living in “Mougins village” means opting for the authenticity of old stone, narrow streets, the view (depending on the location), and a village atmosphere. It also means doing without proximity shops and, frequently, garages or parking places. Currently, supply is clearly higher than demand, due to soaring prices which are not justified by the properties’ amenities. An apartment of 52 m2 without a terrace or parking place is looking for a taker at 330,000 €, ie. 6,000 € per sq. metre. Another example of this microcosm market : a house of 130 m2 “dans son jus” (to be taken as is…) with 5 bedrooms, a lovely terrace with sea view and a large garage, on offer at 720,000 € with renovation on the programme. Even Anglo-Saxons, very keen on old stone, are reluctant to invest at these prices. “The option referred to as “at the foot of the village” is in high demand,” notes Didier Sinclair of the Michael Zingraf agency. Recently, a villa of 320 m2 in grounds of 1,000 m2, just 50 metres from the heart of the village, was up for sale at 4,900,000 €. Another of 750 m2, also at the entrance to the old village, with ad hoc appointments, heated pool, 6,500 m2 of grounds and a beautiful sea view, was priced at 19 million euros. Les Colles (especially the upper part), Le Redon and Pigranel are also highly-prized ; their settings are very enviable and they offer extensive grounds. As soon as a property offers a view of the village and a glimpse of the sea, its price begins to soar. A villa of 900 m2, nestling on almost 5 acres of land, with the Mediterranean and the old village of Mougins in the background, sold for 30 million euros. An exception, of course, as not all properties reach these heady heights. As always, prices are affected by a property’s location, but also noise, the main disadvantage in Mougins, where the Cannes-Grasse expressway can be a boon (opening up the area) but also a pest (noise). Background noise which results in a villa of 150 m2 in grounds of 1,600 m2 with a view of the village being pegged at 990,000 €. With a sweeping view, swimming pool and garden of 1,500-2,000 m2, total peace and quiet, a home of 250 m2 will easily reach 2.5 million euros. Saint-Barthélémy draws fans of tranquillity, commanding views and lovely sunsets ; facing south-west, it offers unique moments at this time of the day. Here, as long as appointments are up to scratch, and they are, a residence of 350 m2 in grounds of 5,000 m2 is worth 4 million euros. Preferred by buyers looking for security and privacy, gated estates are in steady demand, all nationalities combined. Topping the bill in Mougins, “Le Domaine de la Chapelle Notre-Dame-de-Vie” contains some beautiful properties, from 3 million euros. On the gated and guarded estate “Les Parcs de Mougins”, prices start at 2 million or even 2.5 million euros. “Les Terres de Pigranel” and “Le Domaine des Collines” are popular for their views down to the sea. The market in Mougins is dominated by individual houses, with apartments much more limited. On the border with Le Cannet, “Cannes Etoile” is one of the commune’s most desirable recent developments. One French buyer paid 1 million euros for an apartment of 170 m2, in perfect condition, offering a sea view, a terrace of 40 m2, two cellars, two garages and a parking place. A well-known destination on the international scene, Mougins also attracts fans of golf who hit the little white ball on one of the two local courses, the Golf Country Club de Cannes-Mougins and the Royal Mougins Golf Club.
So who are these buyers who make Mougins their main or holiday home ? “Local clients can no longer buy within the commune, they no longer have the means,” says Michel Brévier. Businessmen, company directors and other socio-professional categories in the high-income bracket share the market. “Most of the French home-owners here come from the north or east. Some have sold their firms and are prepared to invest 1,500,000 € in what is initially a second residence, but which will then become their main home,” explains Eric Blain of Century 21th Rêvazur Transactions. The English are much less in evidence than before ; Belgians, Dutch, Germans, Swiss and nationals of East European countries now predominate. Today’s Russian clients are not the same as those of past decades ; they are the children of billionaires who discovered the Côte d’Azur prior to the year 2000. A few Indians are also making their appearance ; the fact that the owner of the Royal Golf Club de Mougins, Rattan Chadha, is an Indian businessman is probably one explanation. All nationalities combined, the buyer is an initiate who wants to combine the pleasures of the nearby beaches with a Provençal atmosphere “made in Mougins”. Cannes is only 10 minutes away, the Nice Côte d’Azur international airport 30 minutes, and the village provides all essential infrastructures : schools (including the Mougins International School, much-appreciated by foreign families), clinics, small shops and large stores. An address signifying luxury and prestige, Mougins also offers a natural green setting, thanks in particular to the municipality’s desire not to disfigure one of the Côte d’Azur’s loveliest communes with concrete. The idea that old stone is a safe haven in times of crisis is here perhaps truer than ever.
By Cécile Olivéro
