Menton and Sospel, at the gateway to Monaco

In the far south-east corner of France, near the border with Italy and at the gateway to Monaco, Menton is both a garden city and a popular seaside resort. At an altitude of 350 m, Sospel is a peaceful but lively medieval village on the banks of the Bévéra.

An estate agent in Menton for over 20 years, Sébastien Kokot is the manager of K&G International Properties which covers the area from Roquebrune to Menton. “Menton is made up of several markets. Our activity revolves around two distinct poles : permanent homes for retirees and people employed in the Monaco region, and holiday residences for foreigners, mostly Italian, Scandinavian, Russian or English.” Sébastien Kokot describes a roller-coaster market, prices losing ground in all the various segments, and a wide offering of properties from studios to 3-bedroomed apartments and villas. “Italians are mainly looking for pieds-à-terre, studios or 1-bedroom apartments, while other nationalities set their sights more readily on larger apartments and villas slightly set back from the coast.” As an example of prized properties representing today’s market, he mentions a 1-bedroomed apartment of 50 m2 on the front row, offering a side view of the sea from its terrace. Accompanied by a garage, it just sold for around 400,000 €. “Villa-apartments are also popular among buyers of both year-round and holiday homes,” notes Sébatien Kokot. Like a 2-bedroomed apartment of approx. 70 m2 prolonged by a pleasant little garden at the entrance to the valley of Gorbio, which just sold for 435,000 €. “These properties correspond to budgets we are currently seeing most frequently.”

Just 15 km from Menton, Sospel nestles at the heart of the luxuriant valley of the Bévéra, south of the Mercantour National Park. A village popular among hikers, Sospel is a peaceful commune of interest to people working in the Menton and Monaco areas, who appreciate its property market with much more affordable prices than towns on the coast, but also all the amenities required for family life, including schools from nursery to intermediate level, a healthcare centre, several sports associations and convenience stores. Opened 10 years ago, the Agence de la Cathédrale handles all kinds of homes in Sospel and all along the valley. “We have seen a slowdown in the market over the past three months,” says manageress Cathy Clermont. “Though demand is still steady for 3-bedroomed houses with gardens at prices from 300,000 to 350,000 €. Buyers need to be patient as there are few availabilities. They sometimes have to wait for about a year. We unfortunately see impatient clients who fall back on properties which do not fully meet their needs or expectations, and regret it later on.” What about apartments ? In the village, supply matches demand for all the various types. A studio here costs from 60,000 €, bringing investors a high rental yield of about 6-7 %.

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