Rentals on the Côte d’Azur
The coastline between Menton and Saint-Tropez is a region which draws a wide, cosmopolitan public. Some opt for seasonal rentals and luxurious properties on the capes, others in the region around Cannes or at Saint-Tropez.
The coastline between Menton and Saint-Tropez is a region which draws a wide, cosmopolitan public. Some opt for seasonal rentals and luxurious properties on the capes, others in the region around Cannes or at Saint-Tropez.
According to the Côte d’Azur’s Tourism Observatory, 40 % of the working population in the Alpes-Maritimes owe their jobs to the tourist industry. As for tourists, one stay in two is spent in an hotel, and one in five is for professional purposes. Monaco tops the list for the most visited sites, though the old Town of Nice, the Promenade des Anglais, La Croisette, Cap d’Antibes, Cap Ferrat, the villages of Eze and Saint-Paul welcome over 1 million visitors. For more than a century, this enthusiasm for the Alpes-Maritimes has contributed to its demographic and economic development. The many beaches (sandy between Antibes and Mandelieu) do not fully suffice as an explanation. In addition to its history, climate and the beauty of its towns, the region’s infrastructures for hospitality are a very important factor. In fact, nothing is missing : from top-notch restaurants to designer boutiques, from lively streets to trendy night-spots, from art exhibitions to beaches with lots of colour… So many magnets, not envied, however, by Saint-Tropez, the legendary village in the Var. So there’s no reason to spite one’s enjoyment by abandoning south-eastern France for other destinations - even if they’re less expensive. Again according to the Côte d’Azur’s Tourism Observatory, seasonal rentals account for 6 % of total stays. Pierre Karim of Haussmann Real Estate covers the area from the eastern part of Nice to Cap Martin, the last cape before the Italian border. Cap Ferrat is quite definitely one of the most select spots in the country. Every year, about 30 properties are available for rent, from 50,000 € per month in summer. A price that may double, or soar even higher, depending on the facilities. The peak period is, of course, in July and August, though the cape is also popular during the Monaco Grand Prix and even during the Film Festival in Cannes. In May, you can expect to find prices 20 to 30 % lower. There are two types of clients : businessmen, often in their forties, and wealthy families with a tradition of holidaying on the cape. The English, Irish, Italians, Germans, Swiss, Russians and East Europeans all love Cap Ferrat ! Only slightly cheaper, Cap Martin is a micro-market which insists on privacy. People who stay here mainly want to be close to Monaco. At Villefranche-sur-Mer with its magnificent waterfront, Beaulieu-sur-Mer with its rich “Belle Epoque” heritage, Eze and Cap d’Ail, prices depend more on the type of property and its appointments than the address. Monthly rentals start at 30,000 € and go beyond 70,000 €. Occupancy rates vary from one year to the next, and were reported as average for summer 2006. A situation probably explained by the penury of rentals meeting the demands of the clientele. The average stay is for one month. And it’s hard to assess the competition from hotels, as the two services present many differences. Demand is lower for Mont-Boron in Nice. The urban executive is not really keen on this type of vacation : this part of Nice thus draws holiday-makers who like the liveliness of a town or appreciate the proximity of Nice’s international airport. Affordable (10,000-15,000 € per month) and mainly concerned with stays by the week, this neighbourhood suffers from direct competition from the hotels. Of comparable prestige, the zone between Nice and Monaco has its fans, with others opting for the region around Cannes. When everything’s getting full, they are pretty complementary.
Marie Cervera of the Labouré Immobilier agency gives rather positive results for 2006, mentioning an occupancy rate of 80 % for Cannes. “North Europeans adore quiet properties, serene and close to the sea,” she says. “Russians love modern architecture, wooded parks and panoramic views of the Med.” In summer, La Californie and Super-Cannes top the list in Cannes. For 25,000 € per month, you can expect a villa (4 bedrooms) facing the Deep Blue Sea. For 180,000 €, you can aspire to a property with tennis court, home movies and a house for guardians. Fans of apartments, excellent clients for the private beaches, head for La Californie or the Croisette. A 2-bedroomed apartment on the Croisette costs 8,500 € per month, a 3-bedroomed apartment in La Californie 15,000 €. The quality of apartment blocks in La Californie with swimming pools and shuttles to the beach justify their higher prices. Though the relationship inverses during festival periods. Every year, according to the Tourism Observatory’s statistics, 500,000 conventioneers set foot on the Côte d’Azur. Many of them come to Cannes, known for its year-round activity in the sector. The MIPIM (real estate market) means a full house from March 12th to 16th. And every year, there aren’t enough apartments. Expect to pay 3,200 € per week for a 2-bedroomed flat on the Croisette, 3,500 € for a 3-bedroomed apartment in La Californie. The MIPTV, from April 16th to 20th, and MIPCOM in October post occupancy rates of 85-90 % with slightly lower prices than those quoted above. Held in June and dedicated to advertising films, the Cannes Lions event is increasingly popular. As for the MIDEM in January, it allows for 60 % occupancy of available rentals. Everyone still deplores the loss of the very lucrative GSM (telecom trade-fair, now held in Barcelona). This season, everyone’s hopes are focussed on the International Film Festival. More than two months prior to the opening of its 60th edition, reservations already confirm an occupancy rate of 80 %. A 2-bedroomed flat on the Croisette costs 8,000 € per week ; a 3-bedroomed flat in La Californie, 9,000 €. Festival-goers naturally prefer the stretch between the Palais des Festivals and the Martinez. Villas are rented out for evenings or by the week. 6,000-8,000 € for a party for 100 guests, 28,000 € for a week in a 5-bedroomed house with an independent apartment. Considerable efforts on the quality of the amenities have already been made. But security still needs to be improved.
Once summer arrives, Cap d’Antibes greets its faithful fans. Its occupancy rate attains 80 % : large properties all find takers, the middle of the range is not so popular. Seven bedrooms with sea view on the west side of the cape will cost 100,000 € per month. 25,000 € would be the starting-price for a 4-bedroomed house inland on the cape. This peninsula has no equivalent nor competitor, except perhaps Cap Ferrat.
“Mougins draws a summertime clientele and people attending the MIPIM event,” says Marie Cervera. “People are looking for a Provençal country house and a luxuriant setting within a 10-minute drive from Cannes. Prices start at 18,000 € per month with an average of 50,000 €.” Regular clients include Anglo-Saxons, families and fans of golf. Only Valbonne offers equivalent characteristics and lower costs.
For Laurence Beauchamp of the John Taylor agency in Saint-Tropez, summer 2006 was radiant for villa rentals, an upswing explained by noticeable improvements in security. Prices for apartments start at 10,000 € per month (3 bedrooms, on the port), 18,000 € for a village house. In sought-after neighbourhoods such as Les Parcs de Saint-Tropez, Le Capon and the area near the beaches of Ramatuelle and Club 55, a villa will set you back 50,000 € per month. Exceptionally, a monthly rental can cost as much as 200,000 € for a sublime seafront property with house staff. Owners would benefit from making a few improvements, especially in the services and interior decor, sometimes a bit old-fashioned. Air conditioning and daily housekeeping should be minimum requirements. Clients still include a few French industrialists, but above all the Swiss, Belgians, English and Americans. The latter are making a comeback, for short stays of about 10 to 15 days. For the past three years, the Russians have been showing interest in Saint-Tropez, focussing on the very top end of the market. Regulars have tried Croatia and Sardinia, but have made their way back. Reservations start in January and go on until April. Some visitors swear by the pre-season and after-season, benefitting from 30 % reductions compared with July and August. And the mildness of this winter brought clients at Christmas to the idyllic shores of Saint-Tropez.
