Saint-Jean-Cap-Ferrat and Beaulieu-sur-Mer

Yann Cohignac - 23 December 2015

Forming with Villefranche-sur-Mer the so-called “Golden Triangle” of the Côte d’Azur, Saint-Jean-Cap-Ferrat and Beaulieu-sur-Mer propose prestigious property markets and idyllic settings. Unique addresses of international renown...

On the famous peninsula of Cap Ferrat, Saint-Jean-Cap-Ferrat (pop. under 2,000) offers a particularly privileged and well-preserved environment in which lush and diverse vegetation (palms, olive-trees, Aleppo pines, many different species of flowers…) runs down to the Mediterranean. An exceptional address, widely known as playing host to about 500 villas, most of them representing the epitome of luxury (and often famous, like the Villa Ephrussi-Rothschild, now a museum), whose prices are sometomes quoted as the highest in the world (and which are definitely the highest in France). Thus nicknamed the “billionaires’ cape” and very conveniently located between Monaco and Nice, it offers pretty beaches (pebbles and sand), surprising little creeks, pleasant footpaths (including the famous Customs Officers’ Path), and a harbour with very desirable yachts. “The property market here, which mainly draws very wealthy foreigners in search of sumptuous holiday residences, is thus highly-prized,” confirm Véronique Deguilhem and Frédérique Mathias of Azur Méditerranée, with two agencies based for over 30 years in Villefranche-sur-Mer and Saint-Jean-Cap-Ferrat (taken over almost two years ago). “The weakness of the euro combined with recent modifications in tax policies for non-residents have made it even more appealing. As the site is listed, available properties, already very scarce, increase only very slightly in number from one year to the next, which naturally makes for rising prices.” By way of example, our estate agents are currently proposing a 2-bedroomed top-floor apartment of almost 100 m2 with panoramic sea view, at 1,650,000 €, and a 6-bedroomed villa in “Belle Epoque” style with swimming pool, near the beach, priced at 7,350,000 €.

The neighbouring commune of Beaulieu-sur-Mer (approx. 3,800 residents) has been a prestigious seaside resort since the 19th century. Its striking architectural legacy is comprised of superb properties built in the sumptuous “Belle Epoque” era, such as the former Hôtel Bristol (1898) and La Rotonde (1904), as well as the Villa Kérylos (built in the early 20th century, a replica of residences in Ancient Greece). The town also offers a casino, yacht harbour (and a more typical fishing harbour), and two lovely sandy beaches. Sheltered from the wind by Mount Leuze, Beaulieu is lively year-round, with numerous shops and restaurants, a station providing regular connections to all the large towns in the Alpes-Maritimes. “Even though it has experienced a slowdown over the past few years, the market here is seen as a sound investment,” says Jessica Bovis, manageress of the Agence Générale Bovis which covers the area from Mont Boron (Nice) to the gateway to Monaco, and this year celebrated its 120th anniversary (founded in 1895). “The luxury sector is less buoyant than before, though transactions are still lively for properties up to 500,000 €, and prices are stable. Most demand today concerns studios and 1- or 2-bedroomed apartments. Depending on the residence’s classiness, the state of the property, the size of its outdoor area or the existence of parking facilities, an apartment with 1 main room sells from 150,000 to 190,000 € - and even over 200,000 € if it enjoys a sea view -, while a 2-bedroomed apartment will range from 300,000 to 550,000 €.” At the moment, the agency’s clientele is mainly comprised of French buyers looking for year-round homes and a few rental investors.