1. 38 PRIME
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Dressed to
By Rachel Johnston
Make money in the city, spend it by the sea – France’s
glamorous and exclusive Côte d’Azur is perfect for
househunters seeking a place to splurge, and
with the Cannes Film Festival just around
the corner, now is the ideal time
to find a property gem

2. PRIME 39
desTINATION / FRANCE || 39
CAP DE NICE
A sea-facing two-bedroom
apartment of 158m2
in the
majestic Palais Maeterlinck,
currently undergoing
transformation into 18
state-of-the-art residences
sothebysrealty.com
€4.5m

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here’s no time like the present to think about the French
Riviera. In a few short weeks, the eyes of the world will
be on this sparkling stretch of coastline as a flurry of
actors and cinematographers grace the red carpet at
Cannes’ internationally renowned Film Festival. But
it’s not only for 12 days in May that the Côte d’Azur is
dressed to impress. Beyond the Givenchy gowns and
glittering trophies of this particular social occasion,
this stretch of the Mediterranean sparkles year-round.
From St Tropez in the west as far as the Italian border,
it was one of the first modern holiday resorts favoured
by British and European royalty and today it is one of
the world’s most exclusive destinations for second-
home ownership.
One of the Riviera’s prime attractions is its flawless
blendoftheaccoutrementsofcitylivingwithanempha-
sis on seaside leisure and recreation. Along just 140km
of coast there are 38 Michelin-starred restaurants,
15 casinos and more high-end retail than your time
could sufficiently satisfy. Team these with the 200-odd
beaches and 300 annual days of sunshine, and you
have a winning formula. ‘The Riviera has something
that nobody needs, but that everybody wants – we are
a ‘nice to have’ kind of market,’ comments Alex Balkin,
executive director of the Riviera and French Alps for
Savills. And a home here certainly is nice to have.
According to Knight Frank’s Wealth Report for 2016,
last year witnessed an upturn in sales activity on the
Riviera – a pattern corroborated by Tim Swannie,
director of prime estate agency Home Hunts, who
confirms that enquiries into luxury property in the
area saw a 60% rise in 2015 compared with the year
before. It will come as no surprise that availability of
land on the Riviera is highly restricted, wedged as it
is between sea and mountains, and there are strict
planning laws to preserve the area’s unique charac-
ter. As a consequence prices are high – and a resale
market prevails, though new developments spring up
often to rejuvenate existing buildings, such as Palais
Maeterlinck on Cap de Nice.
‘Clientsbuypropertiesherepredominantlyasholiday
homes, but many become so enchanted with the area
and find they can run their business by doing round
trips to London, that they move full-time,’ explains
Alex. Indeed, the area is also home to eight conven-
tion centres – providing 114 meeting rooms – and the
mougins
A period bastide
refurbished by architect
Robert Dallas, 8km from
Cannes with six bedrooms,
wine cellar, saltwater pool
and sea views
savills.com
€12m

4. destination / france || 41
caP D’ANTIBES
A recently renovated villa
with five bedrooms, pool and
two-bedroom guest pavilion
on the exclusive Cap
d’Antibes, close to the beach
and Eden Roc Hotel
sothebysrealty.com
€10m
ST TROPEZ
A colonial-style villa with six
bedrooms in the sought-after
gated domaine of Les Parcs
de St Tropez, located on a
promontory east of the town
with views of Château Borelli
leggettfrance.com
€8m
largest science and technology park in Europe, Sophia
Antipolis, shirking any potential label as the spoilt brat
of France. What’s more, regular international flights
from Nice airport and train connections from both
London and Paris make flitting between weekday work
and weekend play a breeze.
Savills reports show that although the market has
adjusted significantly since the financial crisis of 2008
andsalesinthesecond-tiercategoryhaveslowed,prime
(€3-5m) and super-prime (€10m+) properties remain
in high demand. Luxury property on the Riviera gener-
ally falls into three categories: waterfront villas with
gardens and pools; resort-centre apartments, often
with panoramic views; and bastides or farmhouse-style
houses a short distance inland. Sales are mostly focused
on the coast, with the major concentration between
Cannes and Monaco.
Ports such as Villefranche, St-Jean-Cap-Ferrat and
Beaulieu are achingly beautiful, while Antibes is espe-
cially popular with yachters – Port Vauban has over
2,000 moorings. Cap d’Antibes, a lush green paradise
extending 6km into the Mediterranean, is the town’s
own billionaire-studded peninsula, where Roman
Abramovich now lays claim to Château de la Croë,
former home of the Duke and Duchess of Windsor.
The market in the larger cities of Nice and Cannes is
somewhat more diverse, with everything from modest
studio apartments to palatial palm-fringed residences.
‘Cannes is more affordable now than in the past, with
great apartments in the centre of town starting at under
€500,000,’ comments Tim Clark of Leggett Immobilier.
The same is true of Nice, but serious buyers look to the
town’s sweeping waterfront boulevards, where a sea-
view pad costs well into the millions. St Tropez to the
west, in the department of Var, continues to command
the highest prices on the Riviera, representing the
most sales with Savills in 2015 – while Monaco, the
second smallest independent state in the world, has a
market all of its own. ‘Monaco’s high prices have to be
seen in the context of the advantages that come with
living there – for example the tax benefits and personal
security,’ explains Alex Balkin. ‘The Monaco market is
very strong, but many residents are keen on having a
weekend retreat elsewhere on the Riviera, where there
is comparatively more space.’
If it’s this space you’re after, consider opting for a
PRIME NUMBERS
Hotspot population
& percentage of
second homes
Nice: 344,000 – 13%
Cannes: 72,600 – 40%
Antibes: 75,200 – 31%
St-Jean-Cap-
Ferrat: 2,085 – 54%
Mougins: 18,500 – 18%
St-Tropez: 4,500 – 62%
(Source: Savills World
Research, INSEE)

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6. desTINATION / FRANCE || 43
property inland, where you can enjoy the slower
pace of French village life but remain close to the
coastal action. ‘We often see clients initially looking
for property at the water’s edge who end up buying
up in the hills, from where you have the advantage of
stunning views and super value,’ observes Tim Clark.
And for the ‘traditional’ clientele fond of winding
country roads, olive groves, hand-hewn stones and
roof beams, towns such as Grasse, Mougins and
Valbonne are ideal choices. With new train connec-
tions to Cannes and a dual carriageway extension
planned, this area is considered an up-and-coming
location for a property purchase.
SarahFrancis,directorofestateagencySifex,notes
that her agents in Alpes-Maritimes also highlight the
increasing trend for buying inland. ‘Buyers are begin-
ning to show that they are more in search of peace
and quiet than a sea view,’ she says. ‘Additionally,
buying inland means they are more likely to be able
to guarantee privacy by buying sufficient acreage to
remain secluded, while still being within 20 minutes’
drive of Nice airport.’
Buyer profiles on the Riviera have shifted over the
last few years, with British and American investors
overtaking the Russians, due in part to the strength
of the pound and dollar. There is also strong rep-
resentation here from Scandinavia and the Middle
East – and with modern wealth appearing to get
younger, coupled with the area’s excellent interna-
tional schools, the Riviera has become increasingly
popular with families as well as individuals. Those
looking for an investment opportunity regularly
turn to the Riviera and its 11-million-strong tourist
industry; Cannes has a particularly buoyant rental
market thanks to its festivals and conferences, and
short-term lettings here are in high demand.
But if touching down on the tarmac in Nice means
leavingbusinessentirelybehind,thehardestdecision
youwillfacewillbewheretoenjoyyourbouillabaisse
assunsetgiveswaytotwinklinglightsandthescentof
mimosawaftsonthebreeze.Givenchygownoptional.
Royal retreat: The
area became popular in
the 18th and 19th centuries
as a winter retreat for
European royalty
Celebrity hotspot: It
was initially popularised by
Brigitte Bardot, Sophia
Loren and the stars of
films such as To Catch a
Thief, and today plays host
to famous faces from
around the world
Globally connected:
Nice-Côte d’Azur Airport
serves the whole coastline
and is France’s second
busiest airport, serving
over 150 destinations, as
well as Europe’s third
busiest airport for private
jet traffic
Superyacht
destination: The
Riviera hosts 50% of the
world’s superyacht fleet
each year and 90% of all
superyachts are believed
to have visited the region
at least once
Arts and media: The
area is renowned for the
Cannes Film Festival,
founded in 1946 and held
at the Palais des Festivals
et des Congrès
SciencE MAD: Located
near Valbonne is the
world-famous Sophia
Antipolis, Europe’s largest
technology and science
park, and linked to the
University of Nice
Cultural heritage:
Many great artists have
stayed or painted on the
Riviera, including Chagall,
Matisse, Monet, Picasso
and Renoir
(Source: Savills World
Research)
Why buy on the French Riviera?
above
GRASSE
The former home of American
artist Mary Cassatt, set in an
elevated position in the
St-Mathieu quarter overlooking
the Bay of Cannes
leggettfrance.com
€2.49m
‘For the ‘traditional’ clientele fond of winding country roads, olive
groves, hand-hewn stones and roof beams, towns such as Grasse,
Mougins and Valbonne are ideal choices’