Villefranche, pearl of the Côte d’Azur

Rising from the shores of the Mediterranean, Villefranche-sur-Mer surveys its surrounding area. With its famous “Rade” or bay, the commune is also sheltered from the wind by the cliffs, and has long provided safe haven for ships and yachts. Benefiting from the Riviera’s wonderful climate, this little corner of paradise draws both wealthy buyers and members of the local working population.

Villefranche-sur-Mer offers most of the criteria required of a coastal town in the South of France : a very pleasant climate, narrow streets in the Old Town blending charm and history, the azure blue of the sea. Between Nice and Monaco, the commune also benefits from other advantages, as explained by Benjamin Mondou, manager of the Century 21 agency : “What makes Villefranche a highly-prized address is, of course, its climate and beautiful site. But there is also its accessibility from Nice Airport, and the railway, linking the town to Monaco and Italy. This last factor is especially important, as people working in nearby towns are settling in Villefranche. People employed in Monaco, but living here, make the trip easily on an everyday basis.” The local property market is comprised 30% of year-round homes, 70% holiday homes, with lots of foreign owners. There is also a very wide range of prices, as pointed out by Benjamin Mondou : “Prices are very varied : depending on a property’s views, outlook and, of course, its condition, prices can range from 6,000 to 12,000 € per sq. metre. Everyone wants a house or apartment benefiting from good-sized terrace, a sunny orientation and view of the sea : the decisive factor is often the price”. Buyers here share another point in common : most of them are looking for properties with no renovation on the programme, ready to move in.

“It’s a micro-market which hasn’t been affected by the crisis, and where demand is pretty much constant,” says Alban Leloup, director of the Massena Immobilier agency. “Here, demand outstrips supply, which naturally keeps prices very steady. We also have investors who acquire properties to create luxury hotels, or residences rented out for several thousand euros a week. Villefranche is a little Saint-Tropez, but quieter.” On this particular market, most of the buyers are familiar with the prices, and are not surprised by disparities, which can be very substantial, explained by a property’s outlook. As Alban Leloup explains : “Between two similar properties, one facing west, the other in another direction, the difference in the price can attain 30%. The most highly-prized properties are to be found on the eastern side of Villefranche, facing west in the direction of Cap Ferrat : buyers always want to benefit from maximum sunshine. The least expensive homes are those in the Old Town of Villefranche, without balconies and not very sunny : they still fetch around 6,000-7,000 € per sq. metre, as Villefranche-sur-Mer is seen

as a privileged address”.