Saint-Raphaël : running out of stock ?

Radia Amar - 17 May 2021

Benefiting from its privileged shoreline location and its easy access by road, rail and air, this commune in the Var remains highly popular among a vast array of buyers. Offerings are, however, increasingly rare.

With three agencies in Saint Raphaël - Littoral, Centre-ville, Les Golfs -, Canat & Warton devotes itself exclusively to sales under the joint management of Karim Cordelier and Jean-Philippe Bossy. "Demand focuses on all kinds of villas : old residences to renovate, contemporary, neo-classic houses… In the Valescure neighbourhood, prices range from 700,000 to 1.2 million euros for properties not in need of renovation - 80 % of sales fall into this price bracket. These houses are mainly acquired as year-round homes." Our specialist says that the market is very tight. Previously favourable for buyers, it now benefits sellers due to rarer availabilities. "We have not yet seen a price rise, though bargaining margins have declined significantly." Buyers are mostly executives, retirees and pre-retirees. On the market for new properties, environmental and social constraints are slowing down construction of new developments. Offerings are thus becoming very scarce, creating a tense market. "In Valescure, the starting-price is now around 5,000 € per sq.m, with an average price somewhere between 6,500 and 7,500 € per sq.m."

With two addresses in Saint-Raphaël, the Andélim agency specializes in sales and property development. Sales Manager Marc Viale explains that the most sought-after properties fall into two distinct categories : "In the town centre, demand mainly targets 2-bedroomed apartments designed as year-round residences for retirees with budgets from 350,000 to 400,000 €. In the case of holiday homes, buyers readily consider comfortable 1-bedroom apartments, priced from 300,000 €. In our Valescure agency, clients are looking for properties with more exclusive appointments, ranging from 900,000 to 1.5 million euros. A fringe clientele set their sights on rarer properties, at prices exceeding 2.5 million euros." Traditionally marked by rare availabilities, the market in Saint-Raphaël has seen an inflow of buyers since the start of the pandemic, leading to exhaustion of stocks. "We invite owners to put their properties up for sale. Both the timing and the market are in their favour. While it is too early to draw up a balance sheet, ever rarer offerings seem to be causing higher prices." Our specialist identifies two types of clients in search of new properties : those who are determined to acquire a new home because they know the advantages - quality construction, higher norms, prices equal to, or lower than, those for older properties -, and those who cannot find an older home corresponding to their requirements and turn their attention to new developments. "Despite strong demand, new developments are proving to be rare in Saint-Raphaël. In the properties of quality that we commercialize, prices are around 300,000 € for a 1-bedroom apartment, 500,000 € for a 2-bedroomed apartment, and from 700,000 € for properties with large surface areas and more exclusive appointments."