Menton : a reversal of trends.

Long prized by a majority of foreign buyers in search of a holiday home, this commune on the French Riviera now appeals to clients wanting to live here on a permanent basis.

Founded in 2012 by Andrea Tarabusi and Dario Griffone, the Edouard VII agency in Menton has a second branch in Roquebrune-Cap-Martin, at the gateway to Monaco. Its teams devote themselves to sales, rentals and rental management within a perimeter encompassing Beausoleil, Cap d’Ail, La Turbie, Èze, Beaulieu-sur-Mer, Saint-Jean-Cap-Ferrat and Villefranche-sur-Mer.

Responsible for sales, Élisabeth Barbarin explains that over the past six months, the balance between supply and demand has been reversed.

“We are currently receiving more demand, though we have fewer properties available for sale. Our clientele is comprised of buyers looking for second homes in our area, as well as people employed in Monaco searching for their main residence in Roquebrune-Cap-Martin, due to the convenience of travelling back and forth to the Principality. These buyers have an average budget of 450,000 €, though their profiles naturally vary depending on the kind of property being sought. Following the volatility that characterized the market at the end of the health crisis, prices are now stabilizing. In Menton, the most highly-prized location is still the neighbourhood of Garavan, while the Plateau du Cap, the entrance to the Principality of Monaco and Le Hameau attract buyers wanting to invest in Roquebrune-Cap-Martin.”

Élisabeth Barbarin Edouard VII. (04 93 35 35 19)

Founded in Menton by Stéphan Antonucci 30 years ago, the Sud Rivages agency focuses on sales, rentals and rental management within a perimeter stretching from the border with Italy to Villefranche-sur-Mer.

“In our region, the price bracket is extremely wide. From a pied-à-terre on offer at 100,000 € to exceptional residences fetching several tens of millions of euros, the range of properties is truly vast. In Menton, however, the ceiling is around 8 million euros The most widely sought-after properties are still 2-bedroomed apartments benefiting from terraces with sea views, in the town centre, requiring a maximum budget of 500,000 €. Individual houses designed as permanent homes for families are also highly-prized. For this kind of property, with a garden that can take a pool, prices range from 1 to 1.2 million euros. Given today’s rare offerings, owners tend to post higher prices. And second homes used to account for 70 % of our clients’ searches whereas year-round homes now represent 60 % of demand. The proportion of foreign clients has also reversed. Previously accounting for 70 % of our buyers, they now only comprise 40 % of our clientele. In Menton, searches for apartments mainly focus on the “Golden Square”, ie. the hyper-centre, stretching from the Cocteau Museum to the Casino. As for individual houses, the neighbourhood of La Serre de la Madone is still rated as a blue-chip value.”

Stéphan Antonucci Sud Rivages. (04 92 10 13 00)

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