Property markets in Biot, Valbonne and Sophia Antipolis

Typical villages dating back to the Middle Ages, Biot and Valbonne remained pretty much unchanged until the launch of Sophia Antipolis in 1969. A science and technology park which completely transformed this lush natural area, now become modern and highly-prized.

France’s largest technopolis, Sophia Antipolis now plays host to 1,400 companies with about 34,000 highly-qualified employees. A dynamic and attractive job pool, especially as it is partly set on the communes of Biot and Valbonne (9,500 and 12,500 residents respectively), two picturesque villages benefitting from pleasant wooded surroundings. This highly residential area is, in fact, the most highly sought-after among people working in Sophia, due especially to its international schools (“collèges” of L’Eganaude in Biot and Niki de Saint Phalle in Valbonne, and the Centre international de Valbonne).

Prices here are inevitably high : “They range from about 90,000 € for a studio to 350,000 € for 3-bedroomed apartments, with village houses costing somewhere between 200,000 and 400,000 €,” explains Gerald Gomis, director of Blue Square, which has six international agencies (two in Valbonne-Sophia) proposing client service of superior quality (A to Z assistance, a real after-sales service, 15 languages spoken…). “In the case of villas, there’s a wide choice, with prices ranging from 500,000 to 2.5 million euros. By way of example, we recently sold two properties of 180 m2 and 400 m2 with pools, priced at 780,000 € and 1,850,000 €. The most widely sought-after property is, in fact, a classic home with 4 bedrooms, a pool and garage, priced from 800,000 to 1 million euros.” As for “extremely rare” building plots, they cost at least 300,000 €. “And for a plot without any defects, one should expect to pay from 400,000 to 600,000 €.” Stable prices, even moving slightly higher, “contrary to national, regional and even local trends”. 80 % of Gerald Gomis’s clients, both active and retired, are foreigners.

For Grégory Piro, director of Bienvenue Immobilier, an agency based in Sophia Antipolis, also with an international dimension, clients mainly from Scandinavia are looking for “holiday homes in privileged settings in the hinterland. Like some people nearing the end of their careers, who often settle here permanently when they retire. The market for year-round homes is, of course, dominated by executives employed in Sophia, many of whom come from other regions”. Specializing in sales and seasonal rentals of high-class villas, this estate-agent who covers a wide area stretching from Théoule-sur-Mer to Roquebrune-Cap-Martin confirms this sector’s popularity, even referring to a “golden triangle” formed by Biot, Valbonne and Mougins. “The market is active at levels between 700,000 and 1.2 million euros. And prices are stable : properties without any negative factors sell at the prices posted and within very short periods of time.” A house of 200 m2 in 1,500 m2 of grounds will cost about 1 million euros, while a flat building plot of 1,500 m2 will fetch close on 380,000 €. “Though it’s a very rare commodity,” confirms Grégory Piro.

“On the markets in Biot and Valbonne, there are lots more buyers than sellers. And in all price-brackets. Which results in prices subject to negotiation but still high, steady and on-going activity, with properties correctly estimated and not in need of renovation selling quickly,” says Marie-Jo Battesti, manageress of Octantimmo, an independent agency covering the area around Sophia (mainly Biot, Valbonne and Roquefort-les-Pins, occasionally Antibes, Mougins, Grasse and Châteauneuf-de-Grasse). “Villas in need of renovation or with defects such as noise come in for a lot of bargaining. As witnessed by a villa of 192 m2 requiring total renovation in over 2,100 m2 of grounds with a sea view, which was initially offered at 695,000 € and finally sold for 610,000 €.” Her portfolio also contains a 4 bedroomed house of 174 m2 in Valbonne in grounds of 1,480 m2 with a pool and tennis court, priced at 845,000 € (on a gated and guarded estate). “Given our size, we work with all estate agencies, both independent and members of large groups, to meet all of our clients’ requirements as efficiently as possible. In the case of main homes, they are naturally employees working in Sophia. In the case of holiday homes, they are

now mostly French.”