Luxury properties in Antibes
If Cap d’Antibes enjoys an international reputation, the second largest town in the Alpes-Maritimes, just 13 km from Nice Côte d’Azur Airport, is also home to other select neighbourhoods, starting with the seafront over to-wards Ponteil or Juan-les-Pins, Les Rastines and the hills. Estate-agents state their cases…
At the heart of the Alpes-Maritimes, the town of Antibes has 80,000 year-round residents and up to 175,000 in summer. Over the past three decades, it has posted the strongest growth in population figures in “département 06”. A fact that it owes to its quality life-style, beautiful scenery, but also to the dynamism of Sophia-Antipolis, the science and technology park lying to the north-east of the commune. The 23-km shoreline alternates wild creeks and sandy beaches, interspersed with yacht harbours, including Port Vauban, the largest in Europe with 2,000 berths. The town boasts many public and private gardens : Ex-flora, the woods of La Garoupe, Parc Thuret, the Fort Carré and Eilenroc all provide abundant natural greenery. Juan-les-Pins, which embarked on its rise to fame in the 1920’s, is still one of the most popular resorts in south-east France, while the renown of the illustrious cape has gone well beyond French borders, and even the continent. With its dense coverage of maritimes pines, this peninsula blessed by the Gods was coveted by the English and Russians from the second half of the 19th century onwards. Prestigious villas then began to replace the rose gardens, one of the cape's specialities. Today, the coastal path joining La Garoupe to Eilenroc is an invitation to enjoy a colourful walk between the Mediterranean and the walls surrounding sublime private residences. To the east, one can just make out the mountains of the Mercantour, while the Lérins Islands lie to the west. As for the very essential Hôtel du Cap - Eden Roc, it has long been a symbol of luxury, French Riviera style, since its inauguration back in 1870.
“Cap d’Antibes is still a favourite address among the wealthy of the world,” observes Daniel Levant of the Michaël Zingraf Real Estate Group. 90 % of buyers are, in fact, foreigners, mostly from Eastern or Northern Europe. If demand is constant, it is nevertheless hard to meet given the shortage of properties on a par with the expectations of these clients, very fond of turn-key solutions. The financial crunch led to a drop in the volume of business, but did not translate, as was the case in less prestigious areas, into a decline in prices. Owners in fact prefer to postpone their plans to sell rather than acquiesce to audacious proposals. In the case of villas, the starting-price ranges from 1.5 to 2 million euros, a budget bringing living space of 150-200 m2 in need of modernization, in grounds of 1,000 m2 : properties right at the water's edge may well exceed 100 million euros. Nowadays, the bulk of transactions fall into the 3 to 5 million euro bracket and often involve a home of 300 m2 awaiting renovation in grounds of 1,500-2,000 m2 with a lovely view of the Med. The west side of the cape - probably the most sought-after, even if the distinction is not as sharp as it was in the past - offers some beautiful, prestigious, seafront properties of 350 m2, entirely rebuilt, at around 10 million euros. Once more likely to propose smaller surface areas, nestling quietly amidst the pine forests, the east side now also hosts some very fine properties. Finally, the cape is home to about 30 homes enjoying direct access to the sea, from the fisherman's cottage to an illustrious château. Some boast living space of up to 2,000 m2. Cap d’Antibes is indeed a very safe bet : more than just an area code, a label that is tacked on to that of the already very desirable Côte d’Azur. “On the cape cherished by the oligarchs of Eastern Europe, the market is as stable as it is diverse,” comments Bernard Coucy of the agency International Cap d’Antibes. Properties at the water’s edge, for example, follow no accounting rules : it is more a kind of negotiation between two people, one ready to give up a rare specimen, the other determined to get it. Which explains why some buyers have forked out 200 million euros to clinch the deal. A desirable villa, enhanced by noble materials and a sea view, costs from 20,000 to 30,000 €/m2, or 10,000 to 15,000 €/m2 without a sea view, while detached villas to restore, more modest in terms of amenities, range from 5,000 to 10,000 €/m2. Apartments, which can be found in modest numbers over towards the Chemin des Sables, change hands from 9,000 to 15,000 €/m2, with the top end of the range targetting the famous penthouse. Contrary to rumours that circulated at the peak of the financial crisis, the Russians are not giving up their strongholds on the Riviera and are even continuing to buy. Estate-agents are currently looking forward to the imminent arrival of Asian buyers, especially the Chinese.
“Focusing on Cap d’Antibes is an understandable reaction whenever one discusses luxury realty in An-tibes. Other neighbourhoods should, however, be mentioned, certainly more accessible and just as highly-prized,” adds Gilles Hubert of La Franco-Hollandaise. L’Ilette-Le Ponteil, at the eastern entrance to the cape, has some high-quality residences with magnificent views and a wonderful environment. Sandy beaches and the town centre are within walking distance of apartment buildings selling for 6,000-10,000 €/m2, exceptions aside. Here, a villa of 180-200 m2 in grounds of 1,500 m2 with a pool will find a taker for 1.8 to 1.9 million euros. Renowned the world over for its jazz festival, Juan-les-Pins, whose development began in the 1920’s at the initiative of Frank Jay Gould, is still a paradise for fans of beach life and trendy night-owls. The price per sq. metre in the high-class Center Bay or Villa Fitzgerald residences is around 10,000 €. Les Rastines on the east side of Antibes is also a resounding success. A house of 300 m2 in terraced grounds of 1,000-2,500 m2 fetches around 1.5 million euros. The hills also offer commanding positions, sweeping views and prices ranging from 1 to 3 million euros. Except on Cap d’Antibes, the so-called top end of the market is split evenly between year-round and holiday residences. The majority of occasional occupants are French. Most transactions are concluded in the 700,000 to 1 million euro bracket in the case of apartments, the amount required for 2 or 3 bedrooms with a terrace, garage and sea view, and from 850,000 to 1.6 million euros in the case of houses. “Despite real signs of recovery,” concludes Gilles Hubert, “the luxury market is still showing uneven results and continues to waver in the face of international business news”.
By Laetitia Rossi
