Villefranche : one of the loveliest views in the Alpes-Maritimes
Next door to the Niçois neighbourhood of Mont-Boron, this town with 6,870 residents is laid out like an amphitheatre around a very beautiful bay, overlooking the world-renowned Cap Ferrat. Crossed by three corniche roads, the built-up area climbs from sea level to an altitude of 500 metres, from the Mediterranean to Mount Leuze.
Cruise passengers appreciate the port of Villefranche-sur-Mer, a safe place to drop anchor sheltered from the wind, the Saint-Pierre Chapel decorated by Jean Cocteau and listed as an historic monument, the Saint-Elme Citadel built in the 16th century, and the medieval village dating back to the 13th century. “Pointu” boats still wait for their fishermen, while visitors gaze at the deep blue sea seated at tables in restaurants lining the bay, in front of old houses with colourful and picturesque façades. Just close by, the little harbour of La Darse is dedicated to sailing enthusiasts. The town is certainly not lacking in topographical interest. Trodden by Greeks and Romans in the age of Antiquity, its steep slopes are covered in dense vegetation. The press often mentions the seaside resort and its “Leopolda”, flaunted as one of the world’s most expensive properties.
”Between Nice and Monaco, the choice of an address is based more on real-estate criteria than the communes themselves,” explains Mathias Debois-Frogé of the John Taylor agency. “By way of example, fans of properties right at the water’s edge or flat grounds are more likely to find what they’re looking for in Saint-Jean-Cap-Ferrat, if they can afford sharply higher prices.” The plunging view of one of the world’s most beautiful bays, hosting the cape of worldwide renown, is Villefranche’s most persuasive argument. Many buyers then favour Le Castellet, the only gated estate in the “Golden Triangle”. Our estate-agent mentions the recent sale here of a villa of 370 m2, refurbished as new, in grounds of 1,200 m2 facing the sea, at 4.5 million euros. An equivalent property in Saint-Jean would cost 8 million euros. Exceptions aside, the so-called top end of the market ranges from 2 to 10 million euros and mainly concerns second residences. It would be hard to deny the slowdown linked to the euro zone crisis and uncertainties regarding taxation policies. Particularly attentive to legislative developments, foreign clients are, however, showing constant interest in the address, especially as today’s climate seems favorable for bargaining.
“One has to distinguish two markets which are sharing this year’s activity equally,” notes Martine Tosello of Century 21 Lafage Transactions. “Apartments in the village or its immediate surroundings priced under 500,000 €, bringing a desirable 1-bedroom apartment with a terrace and sea view, and villas offering a certain prestige, ranging from 2 to 10 million euros.” The first type of property draws a majority of Scandinavian buyers, a few Americans apparently making a comeback and surprisingly, visitors such as Australians, a nationality well-represented among recent contacts. Houses on the Lower Corniche and in Le Castellet attract Russian and British clients. The upper price-level corresponds to living space of 350 m2 with irreproachable appointments, in grounds of 2,500 to 4,000 m2, facing full south and almost hanging above the Mediterranean. The bay itself boasts international renown, and a panoramic view is regarded as a kind of label. Buyers naturally appreciate the proximity of Nice Côte d’Azur Airport and Monaco, a chic and select centre of entertainment. Long confined to the capes and Cannes, East Europeans are becoming more enthusiastic about Villefranche.
“Despite the business climate, results chalked up for last summer’s seasonal rentals are satisfactory with an occupancy rate close on 80 %, all price levels combined,” comments Frédérique Mathias of Azur Méditerranée. Apartments range from 2,000 to 20,000 € per month, a budget bringing three bedrooms but no outdoor area or sea view, in a residence with a pool. Villas start from 20,000 € per month and can attain, or exceed, 200,000 €. La Schiffanoia – proposing living space of 2,600 m2 with 15 suites, gyms and two swimming pools (one indoor) – falls into the second category. Russian clients waited for the eleventh hour before reserving, with the firm intention of bargaining. In 20 % of cases, this type of summer rental is a stepping-stone towards an acquisition. The last sales orchestrated by Azur Méditerranée indicate an overall lowering of budgets allocated to holiday homes. Russian buyers paid respectively 560,000 € for a 2-bedroom apartment of 90 m2 with a terrace in a residence with a pool, 1.5 million euros for a house of 110 m2 requiring renovation, enjoying a sea view but not a pool, and 1.3 million euros for a penthouse of 92 m2 in need of a revamp, prolonged by a terrace of 150 m2. English clients paid 720,000 € for a small house to restore, near the centre of Villefranche. Finally, a couple of French retirees paid 1,050,000 € for a home of 120 m, also in need of modernization, opening out to a small garden.
By Laetitia Rossi
