Sophia-Antipolis, a unique market

Radia Amar - 30 May 2018

Sophia Antipolis hosts almost 1,500 companies, and over 5,000 students and researchers work there each day. In constant expansion, this unique technopolis, the largest in France, stretches out on about 5,928 acres of land - including 2,964 acres of forests - on the communes of Biot, Valbonne, Mougins, Vallauris and Antibes.

With its head office in Sophia Antipolis, Blue Square was set up eight years ago on the Côte d’Azur by Scottish brothers Stuart and Andrew Pratt. Offering expertise in transactions for a mostly international clientele, the firm has an agency in Valbonne (among eight on the Côte d’Azur) covering Biot, Valbonne, Opio and Chateauneuf. Here, a team of twelve speaking French, English, German and Russian provide assistance for real-estate projects for many people working in Sophia-Antipolis, those of an English clientele, especially professionals in the yachting sector, and those of Monégasques or residents of the Principality looking for weekend homes in the country. “People working in Sophia-Antipolis naturally focus on the communes closest to their workplace : usually Valbonne, Biot and Opio,” explains Sophie Marsh of Blue Square Valbonne, most of whose transactions concern villas to be occupied on a year-round basis, at prices ranging from 600,000 to 1.5 million euros. A few apartments can be found in the agency’s portfolio, presented on average from 3,700 € per sq.m. “Demand is steady and outstrips supply. Both impeccable properties and those in need of renovation find takers. Norwegian and Swedish clients are, in fact, often keen to take on the work to ensure that their home will suit their taste.” Budgets for holiday residences range from 1 to 6 million euros. Rare and highly sought-after, building plots sell very quickly, as evidenced by one example of 2,000 m2 with sea view, located in Biot, which just sold for 600,000 €.

A firm in Biot specializing in both sales and rentals since 2010, Octantimmo opened its showcase agency in the Saint-Philippe neighbourhood in January 2018, extending its coverage of Antibes, Grasse, Roquefort and Opio. “Our clientele mainly consists of people working in Sophia Antipolis and on the Côte d’Azur, whose children attend international schools in Valbonne, both French and foreign buyers looking for permanent homes. Other clients drawn by the idyllic setting of this area combining the charm of the hinterland with fast access to an international airport, while being just a few minutes from the beaches and islands, are looking for holiday homes. For them, we target high-quality properties,” says agency manageress Marie-Jo Battesti, who makes it a point of honour always to give precedence to human relationships, even though Octantimmo is keenly aware of new technologies and high-performance networks. “We have three frequent types of demand. Apartments, from studios to 4 main rooms, involve budgets under 400,000 €. The Saint-Philippe area in Biot where the agency is located is very highly prized, an airy neighbourhood which has become the village’s commercial and administrative hub. Apartments here cost around 5,000 € per sq.m, as exemplified by a 2-bedroomed apartment of 58 m2 in a high-end residence with a pool and parking facilities, on offer at 315,000 €. Equally sought-after, villas from 450,000 to 700,000 € are becoming rare. Then there are large properties priced from 900,000 to 2 million euros, which draw clients looking for holiday homes, on the “Domaine des Clausonnes” or “Domaine de la Chèvre d’Or”. And prices in general ? “Though relatively stable, we are seeing a rising trend,” says Marie-Jo Basttesti.