Movie and music stars, politicians and presidents come here to relax. Silvio Berlusconi and Jacques Chirac, Paul McCartney and Elton John, Sharon Stone and George Clooney – they all have their own place here and enjoy the amazing climate and high-quality service.
Local real estate has always been a reliable and profitable investment. Market fluctuations have little to do with luxury villas in Saint Tropez and Nice apartments - everything is always very expensive on the Cote d'Azur. And despite the fact that prices have increased by 65% over the past 4 years, there are very few investment purchases here – people buy real estate for themselves. We can be sure that from the point of view of return on investment, the average percentage growth will fluctuate within 15% per year.
The high price point of living on the coast is better than any filter to filter out unwanted or unreliable public. However, even a solvent client who wants to purchase a villa may be refused a purchase without explanation. However, this does not mean that Russians in France are biased. The threshold of distrust and wariness has long been passed, and Russians for the French are the same customers as everyone else.
Land of gentle nights
Even the ancient Greeks chose this fertile land, from where it was very convenient to trade with the entire Mediterranean. The olive tree and vine brought here by the Phoenicians made this area truly famous all over the world. The Romans brought civilization to the Cote d'Azur, traces of their presence can still be seen in some towns. In the Middle Ages and up to the 19th century. the coast was a bone of contention between France and Italy. The small but proud principality of Monaco, which has been ruled by the Grimaldi family since the 13th century to the present day, actively fought off their domination. And only in 1860. Italy presented the county of Nice to the French as a sign of gratitude for their help in the struggle for independence. The renaissance of the Cote d'Azur is associated with the Russian and English aristocracy. Since the beginning of the XIX century. royalty, writers, artists, entertainers and just very wealthy people came here in an endless string. The royal family loved to relax in Nice, Dolgoruky and Kochubey built their palaces here. The success of the coast among Russians is quite understandable - with the outbreak of the Crimean War in 1853, its own Riviera became inaccessible.
But especially popular in the XX century. The Cote d'Azur is indebted to the writer Scott Fitzgerald, who glorified life on the Cote d'Azur in the novel "The Night is Tender", as well as to the actress Brigitte Bardot, who was one of the first to settle in the small fishing village of Saint Tropez, which soon became the pearl of the French coast. Picasso and Graham Greene, Gina Lollobrigida and Johnny Holiday, Claude Montana and Luciano Pavarotti... It is easier to list those celebrities who have not been to the Cote d'Azur than those who have lived or vacationed here.
Overheating is not an obstacle
The real estate market of the Cote d'Azur has been at the peak of activity for a long time, and many experts do not hesitate to call it overheated – but demand remains high. The main buyers are the ubiquitous British, Italians, who invest heavily in the Cote d'Azur, and Americans.
Since the coast is sandwiched between the sea and the mountains, the opportunities for development here are extremely small. Therefore, if a buyer wants to purchase a villa or land in a specific location, he may need to wait several years until a suitable offer appears.
The most prestigious places of the Cote d'Azur are well known to everyone. First of all, this is Saint-Tropez, with its famous sandy beaches, where the entire elite lives. By the way, it is also the largest port for private yachts on the coast. Cape Fera, located between Nice and Monaco, is one of the most fashionable resorts in the world. Cape d'Antibes is famous for its active nightlife, although respectable tranquility reigns here during the day. Prices for villas in these places can be calculated based on the cost of 1 sq. m - 10,000 - 15,000 euros.
Cannes and Nice are more attractive to those who prefer apartments. They are cheaper, they are easier to sell later. Those who want to purchase private property for a reasonable price can be advised to pay attention to the small villages that are picturesquely spread out on the hills - Mougan, Grass, Biot. Land is cheaper here, which means that the land area will be much larger than on the coastline. It is quite realistic to have a large garden, a guest house, a decent-sized swimming pool, a tennis court. These are the options preferred by the French themselves.
We should also focus on real estate in Monaco. It is almost impossible to purchase a villa here, since the total area of the principality is only a few square kilometers. Old low-rise buildings are being demolished, and skyscrapers are being built in their place, allowing at least somehow to accommodate everyone who wants to live here. The average price per 1 sq. m. The cost here is 12,000-20,000 euros. As you know, Monaco is attractive not only and not so much for its resort facilities, but also for the fact that individuals are exempt from paying taxes here – this is the famous "tax paradise". Government expenses are covered by high taxes on the activities of legal entities and gambling. Having real estate here, you can apply for a residence permit and pay, or rather, not pay taxes, declaring your income in Monaco. However, it is impossible to obtain citizenship without being born in this country.
Striving for infinity
The prices of the Cote d'Azur depend not only on the prestige of the place, but also on the proximity to the sea and the size of the land plot. So, 5 km from the beaches, the villa has an area of 180 sq. m. a meter can cost 1 million euros, and in the immediate vicinity of water it is 3-5 times more expensive. By the way, the strip of coast directly in front of the water's edge belongs to the state, as well as the sea space. So any tourist or local resident can afford to swim next to the multimillion-dollar mansion.
Prices for city apartments depend on the prestige of the area. An apartment in the center of Nice, but not on the waterfront, with an area of 80 square meters, consisting of three rooms, will cost approximately 400,000 euros. Apartments of the same size in a gated residential complex with a swimming pool, underground garage and sea view are already 600,000. Studio apartments are increasingly popular not only in Paris, but also on the Cote d'Azur. A studio in Cannes will cost from 300,000 to 400,000 euros, in Nice - 20% cheaper.
It is not customary to invest a lot in the decoration of apartments and villas of the middle class, in the price range up to 1.5 million euros. As a rule, they are decorated in the so-called Mediterranean or Provencal style - whitewashed walls, stone floors, wooden windows with shutters. Alternatively, a simple modern style, close to minimalism.
However, there is no price limit on the Cote d'Azur. Exclusive offers of villas and apartments previously owned by Hollywood stars and oriental sheikhs sometimes appear on the market. The cost of such facilities is estimated in tens of millions of euros. Pink marble floors, gardens with exotic plants, fountains and pools with sea water, private marinas for yachts, well–trained servants who are usually "sold" along with the house here - for the Cote d'Azur this is not a luxury, but rather an ordinary thing.
For example, in Saint Tropez, a villa with a total area of 800 square meters is offered, built at the beginning of the XX century and decorated in the Art Deco style. Eight bedrooms, seven bathrooms, a living room with a fireplace, a billiard room, antique furniture, paintings, handmade carpets, a swimming pool, a private park of 2000 sq. m. The owner does not name the exact price, but says that he accepts offers from 16 million euros.
The Cote d'Azur remains very attractive for rent. Even out of season, an apartment or villa can be easily rented for a period of about a week. What can we say about the summer months and holidays - the British and Americans really like to spend Christmas in Nice and Cannes! Russians prefer to rent villas in Saint Tropez in order to stay in the thick of events and parties, to be in close proximity to clubs and restaurants. In high season, the rent of a house can reach 100,000 euros per month. If the property is not used during the year by its owners, then the money from the lease will easily cover all current expenses. It is worth assigning one of the many local agencies to manage this process.
Not for all the rich!
The lively interest in the Cote d'Azur is skillfully maintained through festivals, exhibitions, concerts, open and closed receptions - more than 320 such events are organized here every year! The number one event is the famous Cannes Film Festival, which is traditionally held in May. No less famous are the February Carnival of Flowers in Nice, which lasts a week, and the July Jazz Festival in the town of Juan-Les-Pins. Menton hosts the famous Lemon Festival in February, and Cannes, in addition to movie stars, also hosts the Pyrotechnics Festival in August and the Golf Festival in July. Let's not forget about the Formula 1 races in Monaco, numerous sailing regattas… You definitely won't be bored!
In July and August, during the highest season, for private parties inchic restaurants and nightclubs attract the entire Russian beau monde. Russians prefer to settle next to each other, buying villas in the neighborhood. Cap Ferrat and Cap d'Antibes are their favorite places. They travel on their luxury yachts between the most fashionable resorts in the world - the Cote d'Azur, Sardinia, Capri. As for recreation and entertainment, the Russian beau monde prefers to visit clubs and restaurants in Monte Carlo - for example, Gemmy's club or Joel Robushon Restaurant, as well as casinos. Many agencies in Russia offer services for the rental of luxury yachts and villas. They will help you rent a car, hire a maid, and organize leisure activities.
Although the Cote d'Azur is constantly on the radar and a lot is said about its real estate, real transactions are not so frequent here. By definition, objects worth several million do not enter the market often, and objects worth up to 3 million euros are so few that demand exceeds their supply many times over. Most likely, in the coming years, price growth will continue within the current framework and those who already have real estate on the Cote d'Azur can have no doubt about the success of their investments.
However, experts do not undertake to unequivocally predict how a highly overheated market will develop in the longer term. As prices rise, they lose their investment attractiveness, and some potential buyers are already turning their interest to areas such as Corsica, Greece or Portugal. Well, the Cote d'Azur has never been a resort "for everyone", so for those who seek to live here, even the highest prices are not a hindrance.
The author thanks the Worldlodge company for their help in preparing the material.