After the First and Second World Wars, the glory of the Cote d'Azur was invariably returned by people of creative professions – writers, artists, poets, actors. Their famous parties and the Cannes Film Festival have turned numerous fishing villages into a meeting place for the entire world's beau monde. Palaces of the Russian nobility became museums, and the richest people of our time began to build and buy villas and apartments here.
Villa for sale with servants
The real estate market on the Cote d'Azur is very active, although transactions from 2 million euros are relatively rare. But it is in the middle category – from 1 to 2 million euros – that there are the least offers and at the same time the greatest demand for villas. Unfortunately, most buyers are unlikely to be able to purchase a house near the water in a prestigious residential complex. Due to the total shortage of land in this area, everything in the immediate vicinity of the sea is very expensive. Due to the extremely limited supply and high demand for certain areas of the coast, there is literally a queue for new villas.
As a rule, there is simply no advertising of elite facilities on the Cote d'Azur, most of the information about the offers that have appeared on the market is distributed by word of mouth. Often the owners themselves try to avoid publicity. The average annual price increase for luxury real estate in this region is 5%. Even if there was some stagnation in the middle-class housing market in France in 2007, the growth in the elite sector is due to other factors.
At the same time, there are not many investment purchases on the French Riviera. People buy luxury houses and apartments for themselves, mainly for recreation. You should not always expect luxury in decoration – often, especially in offers up to 1 million euros, houses are decorated in the so-called Mediterranean or laconic modern style. But in the case of huge luxury villas, the cost of which reaches 5-7 million euros, and the design was developed by famous architects, the house will be computerized, and the security system will be brought to perfection. There are sometimes offers of villas on the market that are sold not only with finishes and furniture, but also with staff.
Prestige, prestige and prestige again
There are several places on the map of the Cote d'Azur that are most important for real estate buyers. The main one among them is Saint Tropez. This fishing village became the Mecca of the world's beau monde thanks to the French actress Brigitte Bordeaux, who chose this place for her home in the 1960s. Saint Tropez is also the largest port for private yachts on the coast. In winter, only a few thousand locals live here, but in summer the population increases tenfold. The cost of 1 sq. m. The price in luxury villa complexes here starts from 8000 euros. Not far from Saint Tropez, you can buy a new villa in an elite residential complex with 14 houses, the price is on average 12,000 euros per 1 sq. m
. Between Nice and Monaco, Antibes is located - another fashionable resort, which is famous for its active nightlife, a lot of restaurants and closed private clubs. There is a lot to go here: the Picasso and Napoleon museums, the famous flower park and the water park will entertain both children and adults. Prices in Antibes range from 8000 to 15,000 euros per 1 sq. m. For example, a unique Art Deco villa built in 1935 by French architect Charles Dalma, the author of the projects of the famous Carlton hotels in Cannes and Palais de la Mediterranee in Nice, is now on the market. The villa has an area of 380 sq. m. The apartment consists of 6 bedrooms, a living room decorated with magnificent stained glass windows of that era, as well as a solarium terrace. The area around the house is by no means large – only 700 km. m., but there is a swimming pool and a well-maintained park on it. The cost of 1 sq. m. m is 12,000 euros.
The Cap Ferrat peninsula attracts sandy beaches, pine and eucalyptus groves, which are rare for the Mediterranean Sea. The entire local coast is literally dotted with luxury villas, the cost is 1 sq. m. the cost of which varies from 7000 to 15,000 euros.
A hard-to-reach paradise
Monaco is a tax haven, a small but proud state that has managed to withstand and not submit to numerous conquerors for centuries. The length of its coast is only 2.5 km. Monaco flourished in the 1950s of the last century, when Prince Rainier married the famous Hollywood actress Grace Kelly. The accurate calculation of the possibilities of such a meager territory has brought unprecedented fame to the country. Gambling is allowed here, taxation for individuals has been abolished, and festivals and holidays are held almost every day of the year.
Renting an apartment in Monaco is a huge difficulty, there are very few offers – let alone buying an apartment or a house! The state itself is interested in buying villas from the owners for the subsequent construction of skyscrapers, allowing at least somehow to accommodate everyone who wants to live or relax here. Prince Albert, now the ruler of the principality, has been trying for several years to implement an artificial island project that would increase the area of the country. You can buy an apartment in the principality at a price of 20,000 euros per 1 sq. m. But even this price does not stop buyers, because the absence of taxes for individuals is extremely tempting. It is almost impossible to buy a villa in Monaco – the offers are calculated in units per year.
Red carpet and Provencal cuisine
The Cote d'Azur is unthinkable without Nice and Cannes. Cannes, the city of eternal celebration and luxury, was "discovered" by the English Lord Henry Brougham, who fled here from the plague beginning in Nice in the early 19th century. An endless string of aristocrats and celebrities from all over the world followed him. The Rothschilds, Guy de Maupassant, Prosper Merimet and the famous French actor Gerard Philippe lived here. The Croisette Promenade, the Palais des Festivals, the Le Suque area, where the most luxurious villas are located, is the quintessence of the Cote d'Azur. Property prices here range from 10,000 to 15,000 euros per 1 sq. m., and it is here that Art Deco lovers can buy a villa built at the beginning of the century.
Nice attracts those who prefer apartments to a private house. Luxury hotels on the waterfront, restaurants and shops of famous brands, the charm of the old town with the smells of Provencal cuisine attract crowds of tourists here. There are much more offers for sale here than anywhere else on the coast, and it is in Nice that you can find options worth up to 1 million euros. Closed residential complexes or reconstructed mansions are for the client to choose.
Everything should be transparent
Buying a property on the Cote d'Azur is both simple and difficult at the same time. It is worth immediately clearly understanding the purpose of the purchase – how many months of the year the property will be used, whether it is planned to lease. It is also necessary to determine the desired set of premises and, of course, the budget.
Looking through the various options, immediately pay attention to whether the villa or apartment needs renovation or reconstruction, and most importantly, what additional maintenance costs will be. The fact is that, taking into account real estate taxes, insurance, payments for the maintenance of the house, garden and pool and salaries for the staff, the cost of servicing real estate can reach 10% of the cost of housing per year. In order to at least partially compensate for these costs, you can use the well-established short-term rental system in France. Specialized real estate agencies will take over the search for clients for a certain percentage while the villa or apartment is empty, and the return on such a lease will cover current payments.
The transaction process itself may also be somewhat complicated. In this part of France, there is a special department of the tax police that monitors large real estate transactions. Therefore, the client will certainly be asked to explain the origin of the capital and provide supporting documents. Moreover, it should be borne in mind that the notary is obliged to report all transactions to this body without exception. Here, a large agency that specializes in transactions with foreign buyers can come to the rescue.
A holiday all year round
The Cote d'Azur attracts Russians more with its crazy parties, expensive restaurants and Monte Carlo casinos than with the calm contemplation of the azure of this most famous coast in the world. Russians like to come here not only in the summer, but on any outstanding free weekend. Fortunately, on the French Riviera, unlike its Italian counterparts Sardinia and the Ligurian coast, life never stops. If for the British and Americans, the arrival on vacation is strictly limited to the second half of July and August, then for Russians the season begins on the May holidays and ends in early October.
It is worth noting that the legends of Russians bathing in champagne pools and spending the annual budget of a small country on shopping in stores every day are becoming a thing of the past. Russians are now the same customers as everyone else, and they are treated the same here as everyone else.