Seasonal rentals in the Alpes-Maritimes
Picture-postcard scenery admired all over the world, a privileged natural area between the sea and mountains, towns with historic appeal… All contributing to the popularity of seasonal rentals, a market often looked upon by estate-agents as a springboard towards an acquisition. By Laetitia Rossi
Each year, 10.3 million visitors arrive on the Côte d’Azur, treating themselves to a stay of one week on average. Every day, 60,000 to 600,000 tourists, depending on the period, unfurl in the streets of the Alpes-Maritimes and Monaco. France is said to be the world’s third most widely visited country ; and after Paris, the Côte d’Azur is its flagship destination. Its visitors come from all over the world, with the list topped by Great Britain, Germany, the USA and Eastern Europe. The result of the region’s excellent image as seen by the outside world and the dynamism of the international airport, providing flights to and from many capitals. The Alpes-Maritimes propose 154,000 beds, 40 % in hotels, the second highest capacity in France after Paris. Seasonal rentals offer a perfect compromise : the intimacy of private accommodation with hotel services as and when required...
“The 2013 season went off without a hitch in the Alpes-Maritimes, both on the coast and in renowned villages such as Saint-Paul. 44 % of our tenants are East Europeans, a clientele mainly setting their sights on so-called prestige properties,” comments Arnaud Jacquet of John Taylor. Based on a higher score than in 2012, business tourism has nothing to envy of the summer season. As witnessed by the success of the International Film Festival and MIPIM. A modern 2-bedroom apartment of 80 m2 on the Croisette rents for 12,000 € a week during the MIPIM and 25,000 € for the 10 days of the Film Festival. A villa with eight bedrooms near the centre of Cannes costs 16,000 € for the first event, 35,000 € for the second. Otherwise, one can expect to pay around 100,000 € per month in summer for a villa of 500 m2 facing the sea on Cap d’Antibes ; from 50,000 € per month for a contemporary villa of 300 m2 in the Californie neighbourhood in Cannes, or 400 m2 over towards Saint-Paul. On Cap Ferrat, the starting price is about 75,000 € for a small house with three bedrooms.
“Properties right at the water’s edge won hands down in 2013. On Cap Ferrat, for example, one of the most highly sought-after addresses by very wealthy clients,” says Ana Garcia of Haussmann International. “The majority prefer contemporary architecture and insist on a property in impeccable condition, with at least five bedrooms, flat grounds, a panoramic sea view and services ranging from simple housekeeping and garden maintenance to the presence of a chef, masseur, chauffeur, and even a yacht captain.” On this cape blessed by the gods, much to the taste of Russian visitors, prices range from 100,000 to 400,000 € per month. Professionals in seasonal rentals have to exercise lots of flexibility and offer personalized service to ensure that their demanding clientele returns year after year, though they often change their status as tenants to become home-owners. The very top end of the market is oblivious to the crisis, which is not the case for the middle-of-the-range. The agent must also aim to renew seasonal leases to avoid any scarcity of offerings.
Jean-Philippe Costa of Blue Immobilier covers the area from Cap-Martin to Saint-Tropez with a predilection for the eastern end of the Alpes-Maritimes. “Cap Martin is slightly less expensive than Cap Ferrat in the case of super-luxury properties, definitely less numerous on Cap Martin. It is also much more reasonable in the case of more classic properties, especially houses of 250 m2 offering standard appointments, available from 20,000 to 30,000 € per month.” Beaulieu-sur-Mer, Villefranche-sur-Mer and Cap d’Ail post pretty much the same prices. The third has an impressive concentration of attractive references. But Cap Ferrat remains the favourite address of the most discerning clients. It is, in fact, hard to talk about seasonal rentals without emphasizing service. “After getting a taste of vacations on the Côte d’Azur, many clients want to prolong their feeling of well-being,” says our specialist. “80 % of Blue Immobilier’s buyers started out by renting.”
