Menton : living conditions of remarkable quality

A seaside resort on the Côte d’Azur blessed with a wonderful micro-climate, Menton proposes authentic, prestigious properties in a privileged environment. A renowned address which appeals in particular to a foreign clientele with substantial means.

Nicknamed the “Pearl of France”, Menton (population approx. 30,000) is a “Town of Art and History”, nestling between sea and mountains on the French-Italian border, just 7 km from Monaco. An especially attractive location, protecting it from cold winds blowing across the Alps. With its picturesque architecture and traditional cultivation of lemons (an annual festival has been dedicated to them since 1928), it has an identity all its own, which is widely appreciated.

“Unlike other tourist resorts close by, Menton also offers the advantage of being lively all year round,” says Sabina Guglielmi, a specialist in the town’s property market since 1996 and co-manageress of K&G International Properties, an agency opened in 2011 in place and stead of an existing firm, covering an area stretching from the Italian border to Beausoleil and Cap d’Ail (also a member of the Optimal network, and specializing in business and commercial premises). “In the case of apartments, there are three different markets : that of the seafront, where prices start at 8,000 € per sq. metre ; that of the town centre, where the sq. metre ranges from 6,000 to 8,000 € ; and that of the valleys - Borrigo, Careï and Gorbio - ranging from 3,000 to 4,000 € per sqm. The third sector appeals to members of the local working population, whereas the shoreline and historic centre are mainly of interest to foreign clients (mostly English and Scandinavian) or French buyers from other regions, especially Paris.” Small houses in the valleys can be fround from 450,000 €. Otherwise, villas start from 800,000 €. According to Sabina Guglielmi, these prices were still seeing adjustments in 2014.

“They are, however, now settling down,” says Alberto Barla, negotiator for the Agence Giotto, a family firm founded in 1968 with three more agencies in Italy (in Ventimiglia, Bordighera and Limone Piemonte), proposing an unusual service for the management and hire of boats and yachts. “Despite a slight setback, transactions in Menton still enjoy a lively pace, as long as sellers follow our estimates reflecting market realities. And while prices have certainly seen a slight drop in the valleys, they have held pretty steady on the seafront, where exceptional examples still find takers.” A few new developments are currently being marketed at prices between 5,000 and 6,000 € per sqm. As for building plots, they are very hard to find. “It is rare to find anything under 350 € per sqm.” Despite the crisis, the Agence Giotto still receives enquiries from Italian clients : “Even though they are thinner on the ground than before 2007, they still represent about 20 % of our sales. French buyers account for 30 to 40 %. Then there are the Scandinavians, a few Brits, Belgians, Swiss and Germans. Our Russian clientele has, however, virtually disappeared due to the recent events in Ukraine and the dramatic drop in the value of the rouble”.