Between Nice and Monaco…
The eastern end of the Alpes-Maritimes has a string of communes offering undeniable charm : Villefranche-sur-Mer, Beaulieu-sur-Mer, Eze and Cap d’Ail. Real amphitheatres overlooking the Mediterranean, they all enjoy international renown.
Villefranche-sur-Mer is home to 6,870 residents on the far side of Mont-Boron, one of Nice’s most select neighbourhoods. It climbs from the Mediterranean shore to an altitude of 500 metres. In the late 19th century, English and Russian aristocrats took a real interest in the village. The Saint-Elme Citadel plays neighbour to the colourful houses in this village dating back to the 13th century. The harbour of La Darse has taken on a more modern appearance, though picturesque “pointu” fishing boats still recall times gone by. The peaceful commune of Beaulieu-sur-Mer is shared by 3,800 people, a legendary “Belle Epoque” address with a shoreline attractively laid-out with palm-trees, sandy beaches, a casino and a yacht harbour with berths for up to 800 boats. Eze, with 2,700 residents, occupies an area both steep and surprising well-landscaped. Its panoramic views of the sea make one quite dizzy. The ancient village invites visitors to stroll through its narrow cobbled streets, while the path trod by Nietzsche winds its way down to the sea. Bono and The Edge from the Irish band U2 are not the only ones to have fallen for the charm of this multi-facetted commune. Cap d’Ail won its independence from La Turbie in 1908, and the “station climatique” label 13 years later. From Russian princes to the Lumière brothers, Sacha Guitry, Greta Garbo and Winston Churchill, its illustrious guests built the reputation of this little cape on the border with Monaco.
“We are seeing demand for both villas with lofty volumes and luxurious appointments, facing the sea, and high-end apartments preferably in residences right at the water’s edge,” says Martine Tosello of Century 21 Lafage Transactions, which has three agencies between Mont-Boron and Villefranche. The clientele is mainly comprised of foreigners looking for second residences, from Eastern Europe, Britain, the Middle East or even China. All in search of holiday homes on the Côte d’Azur, on the road that leads from the international airport to the prestigious Principality of Monaco. Currently, a property of 470 m2 surveying the Mediterranean in grounds of 1,500 m2 in Le Castelet - the only gated and guarded estate in this sector -, will fetch from 8 to 10 million euros. In parallel, one seller is asking 15,000 € per sq. metre for a seafront apartment of 130 m2, opening out to terraces. Over the past six months, apartments posting pices from 10,000 to 13,000 € per sq. metre have maintained a satisfactory cruising speed. Which is also the case for villas priced from 2 to 10 million euros. If the market in Villefranche is more active than that of Beaulieu, it is simply due to the large number of properties available.
”The starting-price in Le Castelet is slightly under 4 million euros, bringing a house of 270 m2 in Provençal style, in perfect condition, with grounds of 1,500 m2 overlooking the Med,” says Mathias Debois-Frogé of the John Taylor agency. Outside this estate, one can still find equivalent residences from 2 million euros in Villefranche, 3 million in Beaulieu. The difference is explained by the scarcity of offerings in Beaulieu. At the other extreme, properties right at the water’s edge easily exceed 20 million euros, a market segment which bears comparison with that of Cap Ferrat, an enclave usually posting prices 50 % higher for equivalent properties. The lower part of Cap d’Ail boasts some lovely “Belle Epoque” buildings. One would expect to pay at least 15 million euros for living space of 500 m2 with a garden of 1,000 m2 or more. Immediate proximity to Monaco inevitably has an impact on real-estate activity. To complement their apartments in the Principality, Monégasque residents often treat themselves to a house on this stretch of the coast.
An observation shared by Laurent Benedetti of the agency of the same name, with regard to villas in Eze, acquired by both Monaco residents and foreigners looking for holiday homes. Here, a house of 200 m2 in grounds of 1,200-1,500 m2 with a pool and sea view will be pegged at 2.5 million euros in perfect condition, or around 1.3 million if in need of renovation. Like its neighbours, Eze-sur-Mer proposes properties at higher price levels : 5 million euros for a house of 500 m2 in more extensive grounds. Our estate-agent also handles sales in the exclusive residence “L’Etoile d’Eze”, built about 15 years ago. Near access to the motorway, it benefits from a peaceful setting, beautifully maintained communal premises and a heated pool overlooking Cap Ferrat. The 80 prestigious apartments ranging from 8,000 to 13,000 € per sq. metre are shared by 50 owners who are mostly occasional residents. Some apartments have their own gardens and swimming pools. A very up-market concept.
