Villefranche-sur-Mer, well-merited success
Separated from the capital of the Côte d’Azur by Mont Boron, this seaside resort about 10 kilometres from Monaco is laid out like an amphitheatre facing the Med. Thanks to a record sea-depth for the western Mediterranean, it has become France’s busiest port for cruise-ships.
Boasting a magnificent shoreline, this commune with 6,250 inhabitants rises to an altitude of 500 metres on Mont Leuze. Three main roads, commonly known as “corniches”, make for easy driving in an east-west-east direction. Occupied since ancient times, by the Greeks then the Romans, Villefranche separated from Beaulieu in 1891 and Saint-Jean in 1904. A favourite winter destination for the Russian and English nobility from 1816 onwards, this town renowned for its beautiful scenery and panoramic views successively drew a long list of personalities : Katherine Mansfield, Jean Cocteau, Aldous Huxley, Volti, Keith Richards, Tina Turner, Bono and Elton John. The Chapelle Saint-Pierre, decorated by Cocteau in 1957 and classed as an Historic Monument some 40 years later, is an absolute must for visitors. The old port of La Darse is home to the Oceanological Observatory. Under the aegis of the CNRS, this entity is composed of three laboratories. 150 people work in the port area. Villefranche often pops up in the international press, with jet-set articles repeatedly presenting La Leopolda as the world’s most expensive villa.
“It’s always hard to lay down strict rules regarding the rhythm of our work and sales in Villefranche,” comments Laurent Romor of the agency Nicolas Pisani & Associés. Transactions mostly came to fruition in the first half of 2011, while clients interested in summer rentals made reservations well in advance and have chalked up a higher rate of occupancy than last year. The market is irregular, but demand remains strong. 80 % of buyers are non-residents : 60 % foreigners, 40 % French, the latter mainly clients from Paris and its surrounding region. Generally speaking, East Europeans prefer Saint-Jean-Cap-Ferrat. Today, however, enthusiasm is spreading quite naturally to the “Golden Triangle” formed by this very lovely cape with Beaulieu and Villefranche. The major assets of this last address consist of generous living space and many elevated positions. One can hardly ignore the dazzling, plunging views of the seafront known as “La Rade de Villefranche”, picture-postcard panoramas in azure blue dotted with bobbing white sails. The Old Town, picturesque and colourful, with shops, restaurants and sandy beaches, is also very popular, although it posts a wide range of prices. Without a view, the sq. metre starts at 5,000 € ; with a view, 7,000 €. The choice of residences on the first level of hills is even more diverse. Locals sometimes manage to find a home at 4,000 €/m2, whereas a property offering a desirable location, a view of the sea and an excellent array of appointments can attain or exceed 10,000 €/m2. A villa of 250 m2 in grounds of 1,500 m2 with swimming pool in a quiet and easily accessible neighbourhood costs from 3 million euros. A property of 600-700 m2 at the water’s edge, in perfect condition, with grounds of 5,000 m2, is likely to bear a price-tag of at least 50 million euros.
“Sales concluded towards the end of 2010 concerned properties at much higher price levels than those that are currently sought-after,” says Brian Petoin of L’Agence Bristol. A good number of transactions were then completed between 4 and 7 million euros, whereas today’s clients are more inter-ested in the 500,000-1.5 million euro bracket. One Russian client paid 7 million euros for a perfectly appointed residence of 350 m2 with a garden of 1,850 m2, overlooking both the Bay of Villefranche and Nice’s Bay of Angels. The private guarded estate of Le Castellet draws keen interest from East Europeans, especially as it offers grounds of 1,500 m2 minimum. On the boundary with Grasseuil, a highly sought-after enclave forming part of Saint-Jean, Avenue Louise-Borde and its houses at the water’s edge are comparable to those on the cape blessed by the gods. Opposite the bay, Avenue Leopold-II boasts the loveliest views of the town. If facing south on this street, a home of 400 m2 would call for a budget of 8.5 million euros. Bordering Le Castellet, the neighbourhood of Le Vinaigrier between the Moyenne and Grande Corniches also plays host to some luxurious properties. Finally, Le Col de Villefranche finds favour among locals as it offers easy access to both Nice and Monaco. The wide diversity of housing in Villefranche allows for real freedom of choice. Right now, Belgian, Swiss and Dutch buyers are showing an interest in apartments, in all the various areas, whereas Italians are thin on the ground. A beautifully refurbished apartment with sea view, terrace and parking place costs from 11,000-12,000 €/m2. The presence of a pool within the residence is icing on the cake. For comparable properties, Beaulieu always proves to be slightly more expensive. Handicapped by a very limited supply of offerings, it is distinguished by a sublime “Belle Epoque” heritage in the Gordon-Bennett neighbourhood and a pleasant centre with shops, services and a charming beach.
Among the latest sales orchestrated by the Azur Mediterranée agency, Frédérique Mathias describes an apartment of 90 m2 in need of restoration, at the edge of the historic centre, acquired by an American client for 840,000 €. It benefits from a balcony and sea view, but no parking place. Meanwhile, a Swedish couple paid 750,000 € for a 2-bedroom apartment of 88 m2 with impeccable appointments, parking place and terrace. These two examples are significant : the market for apartments is currently pretty active. Seasonal rentals often serve as a stepping-stone prior to acquisition. This year, the occupancy rate is around 80 %, with some last-minute reservations and negotiations. With basic monthly rents of between 30,000 and 50,000 € for a villa with five suites surveying the vast expanse of blue sea, and 5,000-7,000 € for a good-quality 2-bedroom apartment, Villefranche competes with Cap Ferrat while offering considerably lower prices. Lots of summer visits are made by these vacationers, and the contacts thus acquired enable estate-agencies to look forward to a promising fall.
By Laetitia Rossi
