Cap d’Antibes, a blue-chip investment
The saga of Cap d’Antibes, already known in the Age of Antiquity, really took off in the mid-19th century. Captivated by the charm of this cape blessed by the gods, wealthy British and White Russian visitors had sumptuous villas built here. Over 150 years later, its popularity remains unchanged.
Cette propriété Belle Epoque d’environ 500 m2 (sept suites) sur un terrain de 2500 m2, s’ouvre sur une large terrasse face à la baie de Cannes et aux îles de Lérins. More than 10 M €. Agence du Cap d’Antibes (04 93 61 36 41).
In a park on the west side of the cape, this fully furnished new villa offers living space of 320 m2 in flat grounds of 1,100 m2 with a magnificent view of the sea. Between 5 and 10 M €. Agence de la Garoupe (04 93 67 47 27).
This lovely Provençal house benefits from mature flat grounds of approx. 3,090 m2 on a private estate on the west side of the cape, a short walk to the beaches. More than 5 M €. Michaël Zingraf Real Estate Christie’s (04 92 28 19 19).
The west side of Cap d’Antibes gazes out at the Lérins Islands, while the east side faces the distant Mercantour hills. 1,460 people live year-round in this little paradise of 9.15 acres characterized by lush vegetation.
“Disenchantment on the part of the clientele from Eastern Europe, caused by both a specific political context and economic factors hardly propitious for acquiring properties abroad, has had a considerable effect on seasonal rentals,” explain Frédéric Demeyer and Guillaume Turquois of the Agence de la Garoupe. “Over the past two years, we have seen a decline of 40 %.” This has resulted in a downturn in prices and a general wake-up call that is, in fact, positive. Serious sellers are now more coherent when estimating their properties, or at least listen more carefully. And real-estate professionals say they are now more optimistic : “North Europeans are proving to be especially active within a very wide price-range, from 2.5 to 10 million euros”. Above this level, the market is certainly quieter, sometimes still volatile and hesitant. The current context has, however, allowed for an up-tick in terms of quality and space. For 2.5 million euros, one can set one’s sights on a villa of 200-230 m2, laying claim to a glimpse of the sea, which would have cost 3 million euros in 2013. A property of 400 m2 in grounds of 2,000 m2 on the west side of Cap d’Antibes, offering a panoramic view of the Med, has in fact just found a taker for 8.5 million euros, 25 % less than it would have fetched five years ago. Covering the area for three decades, our specialists, convinced of an imminent return on the part of Anglo-Saxon clients, have readily launched themselves into two large-scale renovation projects, with living space of no less than 1,000 to 1,600 m2, worth 20 to 25 million euros. In their opinion : “A certain well-heeled and demanding clientele always remains deeply attached to generous surface areas and exclusive appointments”.
“Since the beginning of this year, we have been signing deeds and commitments to buy,” says Daniel Levant of Michaël Zingraf Real Estate Christie’s. A north European buyer is treating himself to a house of 300 m2 with a beautiful azure-blue view, at a price somewhere between 4 and 5 million euros. He is moving in with the firm intention of making professional round-trips to the capital which was his previous home. A small house of 100-150 m2 in good condition, without a garden or pool, but a pretty view of the sea, will find a buyer for 1.5 to 2 million euros. “Cap d’Antibes is a prestige address, a label synonymous with a quality life-style, a state of mind, a promise of peacefulness. It’s a great place for walks : shop-keepers give you a warm welcome and neighbours are friendly. The atmosphere is very soothing. As witnessed by the turnover, lower, for example, than that recorded in uppercrust neighbourhoods of Cannes. This micro-market consists of about 1,100 properties, a number which cannot be extended, thus guaranteeing a sound long-term investment. Many houses still offer potential for refurbishment, or even full renovation. One simply has to persuade buyers to launch themselves into the venture.”
“Here in France, 2017 is a turning-point in political terms,” comments Aurélien Monnier of the Agence du Cap d’Antibes. “Since the elections, the eyes of neighbouring countries are particularly riveted on our approach to taxation.” While some owners still nurture pretentions in terms of value, overall the stock of properties offers a good choice, often subject to bargaining for reductions of around 15 %. Some sellers, taken aback by very audacious offers, go as far as to withdraw their properties from the files. Proving that few of them really need to sell. Like all so-called prime locations, Cap d’Antibes is a bet on the future, from the point of view of both buyers and, in fact, sellers. Wait-and-see is often the strategy adopted. Even so, rare examples that are correctly estimated do not take long to draw attention. Like one villa of 200 m2 in need of restoration, on the west side of the cape, facing the Mediterranean, which sold at a price between 4 and 5 million euros. A sea view and a quiet environment are criteria cherished by all.