At the water's edge
At the water's edge
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At the water's edge

It’s not an easy task to make a classic analysis of this micro-market. To take its real measure, one simply has to recall that the Côte d’Azur shares the highest prices in France with the Parisian region and the French part of the region near Geneva. And that seafront villas are the diamond in the crown…


It’s not an easy task to make a classic analysis of this micro-market. To take its real measure, one simply has to recall that the Côte d’Azur shares the highest prices in France with the Parisian region and the French part of the region near Geneva. And that seafront villas are the diamond in the crown… By Laetitia Rossi.

“I’m always amazed when I drive along coast roads, especially those on the Côte d’Azur.” This remark made in 1987, when Michel Chassagne opened his Waterfront Property agency, is still valid 20 years later. In the meantime, he and his “righthand man”, Sonia Kovac, have visited over half of these 1,957 properties between Menton and Saint-Tropez. Tenacity which has won them the immense privilege of offering more than 50 seafront homes for sale. “Like any micro-market, this segment is subject to very special criteria for evaluation, in addition to normal parameters (surface areas, condition, appointments). Prices are even higher if the house is on a cape. There are three in the Alpes-Maritimes, Cap Martin, Cap Ferrat and Cap d’Antibes, and two in the Var, Cap Bénat and the Saint-Tropez peninsula. Proximity to Cannes or Saint-Tropez also bumps up the price. Similarly, the eastern part of the Var is more expensive than the west, which tends to be seen as closer to Marseille and the “Côte Bleue”. Is the highly-prized seafront property near an airport ? If so, buyers prefer that of Nice to that of Hyères. Is there a yacht harbour nearby ? Fans of villas at the water’s edge are also keen yachtsmen. Other sought-after features can be of an unusual character. Some buyers, for instance, are fond of islands, such as Corsica, Porquerolles, Le Levant or Le Ribaud. They also pay close attention to accessibility to the Med : is the house on a cliff ? Do the grounds end in jagged rocks or a pebbly, or even sandy, beach ? Does the view consist solely of the sea, a gaping black hole once night has fallen, or does it include the coastline, making it more lively ? Furthermore, is the water deep enough to moor a boat ? Are the watery depths diversified enough to justify underwater diving ?”… Seafront properties on the Côte d’Azur suffer from a certain number of disadvantages : the Deep Blue Sea is in fact paralleled by the railway and the main road. Just in front, one finds the coastal path. Some properties have to contend with noise from a public beach, others with the constant chirping of the cicadas. Still according to our specialists, 5 % of seafront properties range from 250,000 to 450,000 €, 20 % from 450,000 to 750,000 €, 50 % from 750,000 to 1.8 million €, 15 % from 1.8 to 3.8 million €, 5 % from 3.8 to 7.6 million €, and finally 5 % from 7.6 to 25 million €. The most expensive properties are on Cap Ferrat, which combines a classy address with high security, the closeness of Nice Airport, Italy and Monaco. Jean-François Favelier of Burger Sotheby’s International Realty says that prices of a few outstanding properties are soaring and sometimes attaining indecent levels. “This is a market ruled by passion, a feeling of “must have”, so marked by penury that it never faces a crisis. Living right in front of the Mediterranean, and furthermore on the Côte d’Azur, is everyone’s dream ; those who can afford it are ready to pay the price.” Demand is high ; the estate agent’s task consists of unearthing the rare pearl. Véronique Deguilhem from the Michaël Zingraf agency emphasizes the rule of confidentiality. “For this type of property more than any other, discretion is essential. Between Villefranche-sur-Mer and Roquebrune-Cap-Martin, Irish, English and American clients with high purchasing power are looking for homes at the water’s edge.” All along the coast, Michel Chassagne has also noticed the arrival of French “papy-boomers” wanting to retire in the sun. Buyers are grouped according to their budget and preferences : discreet on Cap Martin, they are almost exclusively foreign on Cap Ferrat, more varied on Cap d’Antibes, more VIP at Saint-Tropez, family-oriented on the gated and security-conscious Cap Bénat, and less well-off from Anthéor to Saint-Raphaël.

bienDexception
Built in 1904 and acquired in 1950 by the family of the Prince de Reuss, this monumental residence is characterized by its architectural eclecticism. Each part of the property has been treated in an original manner. Nestling in a landscaped garden of 1,500 m2, it offers living space of 700 m2 (six bedrooms) and is accompanied by a cottage for guardians. Between 20 and 25 M €. Michaël Zingraf (04 93 79 32 32).
Built in 1904 and acquired in 1950 by the family of the Prince de Reuss, this monumental residence is characterized by its architectural eclecticism. Each part of the property has been treated in an original manner. Nestling in a landscaped garden of 1,500 m2, it offers living space of 700 m2 (six bedrooms) and is accompanied by a cottage for guardians. Between 20 and 25 M €. Michaël Zingraf (04 93 79 32 32).
bienDexception
At the tip of a cape and close to the shops, this property in the Var benefits from total peace and quiet. It is comprised of two villas in flat grounds of 3,400 m 2, one offering 150 m2, the second 110 m2. A rare advantage, additional construction is authorized up to 510 m2. Over 3 M €. Waterfront Property (04 92 99 09 01).
At the tip of a cape and close to the shops, this property in the Var benefits from total peace and quiet. It is comprised of two villas in flat grounds of 3,400 m 2, one offering 150 m2, the second 110 m2. A rare advantage, additional construction is authorized up to 510 m2. Over 3 M €. Waterfront Property (04 92 99 09 01).

Just one point remains to be made, and not the least important : regulations concerning the land that separates the villa from the sea which, in fact, justifies all its worth. “Generally speaking, everything situated within three metres from the Mediterranean belongs to the State,” explains Michel Chassagne. “These properties often fall into the concession category. In exchange, the beneficiary pays a tax, maintains the coastal strip and undertakes to give hospitality to anyone encountering difficulty on the sea. He must also indicate the limits of the said concession. Access for third parties is authorized, parking is forbidden. Lasting five years, a concession can be extended but not transferred to anyone else. On the Côte d’Azur, there are only three or four seafront properties whose ownership titles include the beach.