The popularity of Saint-Tropez
Brigitte Bardot launched the fashion which has since become intemporal and indeed worldwide. Sought-after neighbourhoods, prestige properties, the clientele and the latest trends… Estate-agents place the various aspects of the world's most exclusive fishing village under the microscope.
Focus on Les Parcs
Since their inauguration in 1954, the popularity of Les Parcs de Saint-Tropez has never waned. Françoise Albertone and Michel Wegelin tell us about this exclusive address…
“Les Parcs occupy a peninsula of about 500 acres bordered by creeks and planted with palms and parasol pines. Gated and guarded 24 hours a day, the estate is home to over 160 properties. The superbly maintained alleys, the remarkable condition of the homes and the colossal effort devoted to security are all commendable points. Big French company directors, some who have been here since the start, English, Irish, Belgian and Swiss all appreciate the site’s genuine enchantment. Discreet, even though increasingly younger, they never flaunt showy luxury. Properties are harmoniously integrated into the natural setting and benefit from panoramic views of the Mediterranean or Saint-Tropez. Finally, the only fly in the ointment is caused by the estate’s quality : “People are so comfortable here that turnover is minimal,” smiles Françoise Albertone, “about 10 % per year”. Most of the plots range from 5,000 to 8,000 m2 and living space is close on 400 m2. Prices start at approx. 5 million € for a delightful house of 280 m2 in mature grounds of 4,000 m2. The average transaction lies somewhere between 5 and 7 million €. As for the top end of the price bracket, those concerned prefer to maintain a certain discretion. Considered as one of the most prestigious addresses on the Côte d’Azur, Les Parcs is certainly an investment for personal enjoyment, but also guarantees long-term yield. Some buyers opt for the wilder neighbourhood of Le Capon or Les Canoubiers, which bear the same price-tags. Finally, other private estates also looking out to sea, Les Treilles de la Moute, La Capilla, Cap Tahiti and La Moutte, post prices 20 % lower.
The trend in Saint-Tropez
“Steady, with stable prices and a growing number of international clients, it is still riding the wave of success,” confirms Jean-Luc Beaujean of Saint-Tropez Properties agency.
North Europeans set their sights on properties of up to 25 m €, while southerners, though great fans of the area, rarely go beyond 5 million. “The market was once exclusively French, and prices reasonable. That was before the arrival of the euro and investors from world capitals,” says Mr. Beaujean. Wealthy clients dream of Les Canoubiers within walking distance of the village, Les Parcs de Saint-Tropez, Le Capon, Le Pinet and Tahiti, with their panoramic views and grounds sometimes comprising several acres. Foreigners prefer turn-key homes, while the French await for the new PLU, hoping that certain plots will become available, hesitating between existing properties and the idea of building. The average budget here is 5 m €, a level difficult to satisfy. You can, of course, find houses at 3 m € requiring renovation, or close to the town with a garden and occasionally a pool (2 and 3.8 m €). But most of what’s available is priced above 5 million. Despite the imbalance between supply and demand, the market is lively with many visits to properties around 10 m €. Penury is at its worst for the low and middle brackets, and also for apartments. In blocks of flats which are beginning to date and “Bohemian” apartments at the heart of town, the sq. metre costs 6,500 to 10,000 €, with peaks of 15,000 € on the port. “The market is active,” concludes Jean-Luc Beaujean, “though increasingly competitive”.
An international clientele
Flocking in from all four corners of the globe, buyers consecrate Saint-Tropez as the exception in the Var. Dominique Drappier of Riviera Property International paints their portraits.
70 to 80 % of buyers are foreigners. An elite with serious budgets, they systematically target the top end of the market. Prepared to spend over 15 million €, the Russians set their sights on Le Capon, Le Pinet, Les Parcs de Saint-Tropez or Les Salins, sea views and extensive grounds. North Europeans with budgets of 8 to 15 million are particularly fond of properties in Provençal style ; homes with real character, for which they accept a certain distance from the sea. The very few American clients dispose of high purchasing power and are also ready to rent out properties for long periods of time. The very rare Asian clients acquire vineyard estates and prestigious hotels as commercial enterprises. They all adore the exciting cocktail which blends a country setting with infrastructures for festivities, the site’s natural beauty, the magnificent beaches and well-preserved residential neighbourhoods. In the past, Saint-Tropez lost a few fans to Ibiza and, more recently, to Croatia. Many have returned and the majority of the town’s loyal fans have never looked elsewhere. This international clientele now has to make do with the market. Marked by a substantial “top-notch” segment, it is active year-round with peaks when clients visit in May and September. The distribution of customers for seasonal rentals shows the same proportion as for sales, except that one notices a large share of Italians and French. What’s available is surprisingly varied : expect to pay 16,000 € per month in summer for a Provençal house with 3 bedrooms and a small pool, 200,000 € for 8/10 bedrooms in 2.5 acres of grounds with a 180° sea view. In the month of July, almost 80 % of available rentals are taken, 90 % in August.
Opting for a villa
From famous to lesser-known areas, this micro-market offers an ill-matched choice. Philippe Richard of the Agence Immobilière Tropézienne describes the market for villas.
Our expert begins the tour with great enthusiasm. “The bay of Les Canoubiers shares the limelight with the famous Parcs de Saint-Tropez. Sheltered from the wind, it offers incomparable views taking in the coast, the peninsula and the sea, not forgetting fine sandy beaches and a total lack of traffic jams.” Prices start at 3 million €. A seafront villa currently costs 11 million, while 13.5 million will bring a magnificent residence of 500 m2 in 6,000 m2 of grounds. Barons of industry from France, Holland and Belgium set their hearts on this sector as much as on Le Capon or Le Pinet. From their hillsides, these homes enjoy plunging, panoramic views. Some estates attain 2.5 to 5 acres while smaller, but just as charming houses with plots of 2,000 m2 are snatched up from 1.7 to 2 million €. Standard sales nevertheless range from 3 to 7 million €. The beaches of Pampelonne, on the commune of Ramatuelle, also attract a lot of buyers. A home of 360 m2 with a second house of 100 m2 for guests in grounds of 3,400 m2 is up for sale at 3,690,000 €. Finally, the market does include cheaper areas, also showing steady progression. This is true of Sinopolis at the entrance to Saint-Tropez, where one finds, for example, living space of 220 m2 facing the Deep Blue Sea at 1.2 million €. Demand for villas always outstrips supply : they have, in fact, a very sunny future.
Interviews by Laetitia Rossi
