With respectively 13,200 and 28,700 year-round residents, Roquebrune-Cap-Martin and Menton accommodate both locals and the wealthy from all four corners of the world. Spotlight on a region close to the border, a sunny Garden of Eden basking on the Mediterran-ean shore…
“The world, they say, was created by God. When he created
Roquebrune-Cap-Martin, the Almighty must have been in a good mood”... Louis Nucéra couldn’t have put it better : while the medieval village perched 225 m above sea level offers genuine charm, the modern town, including its eastern neighbourhood, which hosts 80 % of the population, and the cape, one of the most discreet in the Alpes-Maritimes, offer lots of convincing assets. As for
Menton, at the gateway to Italy, Monaco and the County of Nice, it fully deserves its status as a City of Art and History. Many celebrities became familiar figures in this City of Gardens, from Empress Eugénie to Jean Cocteau. Furthermore, its various architectural styles bear witness to the rich past of the “Pearl of France”, as it was nicknamed by geographer Elisée Reclus.
“When it comes to villas, Roquebrune is definitely better endowed than Menton, thanks to its cape,” explains Stéphan Antonucci of
Sud Rivages. “Unless they are on an estate, there are currently no properties available under 3 million euros,” adds the specialist. An example of 230 m2 in grounds of 1,050 m2, with a glimpse of the sea through the pines, is currently pegged at 3.2 million euros, while another of 180 m2 in excellent condition facing the Med is priced at 3.7 million. In the “exclusive” sector, gated and guarded, prices sometimes soar to 100 million euros, as on
Cap Ferrat and
Cap d'Antibes. Over the past three years, the Russians are the most frequent purchasers of properties selling in the millions. Of course, some enclaves in Menton offer properties comparable to those on Cap Martin, such as Boulevard de Garavan, facing the bay south or south-west, and enhanced by lush vegetation. While the asking price for a “Belle Epoque” villa of approx. 400 m2 in grounds of 3,500 m2 is over 7 million euros, the starting-price is much lower, about 1,060,000 €, for living space of 190 m2 with a garden of 400 m2. Menton clearly offers more opportunities for those seeking villas than the neighbouring commune. The price grid starts at 500,000 € in a quiet, unassuming area without a sea view. The general atmosphere is neither tense nor euphoric. But when one speaks to the locals, the situation is more strained.
“Local buyers can usually afford around 500,000 €. In Borrigo or the valleys, very few villas offer value for money,” admits Sébastien Loffredo, mentioning one example of 140 m2 with a garden of 1,300 m2 and the possibility of enlargement, within a 5-minute drive from the centre, offered at 477,000 €. “In spite of the correction resulting from the recession, prices are so high that local people still find it hard to acquire a villa,” says the manager of the
Agence Immobilière du Grand Palais, keen to provide a tradition of all-round service, from a survey of a transaction's legal aspect to setting up a financial plan and the signing of the deeds. Older people capable of investing from 750,000 to 900,000 € on the road from
Castellar to Menton or in the Hameau de Roquebrune, for example, are usually benefitting from the recent sale of a second or third home. In the holiday home sector characterized by hefty budgets, the clientele has apparently become thin on the ground since deregulation of international finance : it will take some time before this aspect of the market recovers its cruising speed.
