The property markets in Cagnes-sur-Mer, Saint-Paul and Vence

A lively and attractive town on the Bay of Angels between Nice and Cannes, Cagnes-sur-Mer is a gateway to the hilly hinterland and its Provençal addresses such as Saint-Paul-de-Vence and Vence. Different property markets showing signs of liveliness…

Between Villeneuve-Loubet and Saint-Laurent-du-Var, Cagnes-sur-Mer is made up of three main areas : the medieval town on top of a hill, dominated by the Château Grimaldi (Le Haut de Cagnes) ; the modern town, at its feet, the hub for economic activities and amenities ; and Le Cros-de-Cagnes, on the seafront, a fishing village now become a well-known seaside resort with beaches almost 4 kilometres long. Ranking fifth in the Alpes-Maritimes in terms of population (approx. 48,000), Cagnes is particularly well-known for its rehabilitated shoreline, its race-course (the second largest in France), and its large open-air shopping mall, inaugurated very recently : Polygone Riviera. Arnaud Pomies, manager of Partners Immo (handling sales, rentals, management, surveying and property development), has been based in Cagnes since 2005. “Very active, especially since last autumn, the property market here is even seeing a slight rise in prices. In the case of apartments, demand is mainly for those with 1 or 2 bedrooms. For example, a 1-bedroomed apartment of almost 55 m2 recently found a taker in the neighbourhood of Le Lautin for 238,000 €, and a 2-bedroomed apartment of 85 m2 near the train station sold for 249,000 €. As for houses - in the neighbourhoods of Les Brèguières, Les Colettes, Saint-Veran, Sainte-Colombe, Val Fleuri, Vallon des Vaux and Caucours -, those that sell most easily are under 500,000 €, such as a 3-bedroomed house of over 90 m2, which recently sold for 477,000 €.” Building plots in the area cost on average from 250,000 to 300,000 €. As for new accommodation, a development currently on offer in the town centre posts prices from 6,000 to 7,000 € per sqm. “Our clientele is mostly comprised of people working locally, and retirees for Le Cros-de-Cagnes.”

Further inland, a neighbouring commune perched on a rocky spur, Saint-Paul-de-Vence with over 3,500 residents is known internationally for its artists’ studios and art-galleries. Of great appeal to tourists, it boasts a remarkable architectural heritage (listed medieval ramparts, authentic narrow streets…), and benefits from a particularly privileged environ­ment offering magnificent sweeping views. “Its coveted property market has thus hardly suffered at all from the crisis,” says Michael Deckers, manager of Capital Immobilier since February 2015, an agency covering Saint-Paul for about 20 years (previously under a different name). Franco-English, he only handles sales. “Wealthy foreign clients - especially from Northern Europe - are, in fact, omnipresent here and, even though some buyers don’t hesitate to make low offers, prices remain stable overall, with the majority of owners not seeing any need to adjust their prices in order to sell. Here, there are really two markets : that within the ramparts, comprised of old apartments and village houses (1-bedroomed apartments fetch 300,000 to 350,000 €, renovated houses from about 750,000 €, and those with gardens, pools and views, from 900,000 to 1 M €), and that of properties in the surrounding area, whose prices range on average from 2 to 3 M €, with spikes up to 15 M € or more.” By way of example, a contemporary villa totalling 435 m2, benefiting from a pool and superb views of the coast and village, is currently on offer at 3.3 M €.

The neighbouring town of Vence (pop. approx. 20,000) can also lay claim to a medieval centre, several art-galleries and an appealing country setting. Cultivating a pleasant Provençal life-style, it comes alive each summer with its “Nuits du Sud” world music festival which draws thousands of spectators. “Though Vence’s property market is still leaning slightly towards the downside, it is in demand, especially with a notable return on the part of foreign buyers - mainly from Northern Europe,” says Marie-Christine Soriano, manageress of the agency La Canopée Immobilier which has been handling sales, rentals and property management since 2006, all over the hill-country (Vence, Saint-Paul-de-Vence, La Gaude, Saint-Jeannet, La Colle-sur-Loup and Tourrettes-sur-Loup). “The core of our activity is the sale of villas, which mostly require budgets from 500,000 to 1 M €. As evidenced by two recent transactions : on a residential estate five minutes from the centre, a house of 110 m2 in excellent condition, offering quality appointments, flat grounds of 800 m2 and a pool, priced at 520,000 € ; and south of the town, a villa of 160 m2 in good condition, in grounds of 1,500 m2 with a pool, priced at under 600,000 €.” As for building land, a relatively flat plot of almost 1,050 m2 is currently up for sale, also south of Vence, for 230,000 €. Finally, apartments in new developments cost from 5,500 to 6,000 € per sqm. “For, in addition to foreign clients, we are also contacted by people working locally.”