Théoule-sur-Mer, still an exclusive property market
Pauline Roman - 22 November 2016
Backing onto the protected Massif de l’Estérel and set on the Mediterranean shore, Théoule is an idyllic address, very popular among holiday-makers. Its sandy beaches, creeks carved out of the famous red rock, and surrounding nature are assets that make it unique in the eyes of its residents and visitors, particularly numerous in the high season.
Julien Pettine of Immocial Transactions, an agency opened over 30 years ago, knows Théoule and its surrounding region extremely well. For him : “The town can be split into four main areas, each with its own special features”. From the harbour of La Rague to the Pointe de l’Aiguille, the “Domaine de Théoule” surveys the Bay of Cannes, playing host to many prestigious villas ranging from 200 to 300 m2, and from 2 to 4 million euros. Properties offering the most spectacular views are to be found in the Saint-Hubert neighbourhood, between the Estérel mountains and the coast. Their price-tags range from 1.5 to 3 million euros. The agency recently sold a villa of 170 m2 here, with a pool, for 1,750,000 €. At the heart of the village, a few detached houses and old fishermen’s houses on small plots of land rub shoulders with residences built in the 1980’s. Here, the price per sq. metre is 5,000-6,000 €. Finally, La Californie, the area near the beaches, plays host to one of Théoule’s smartest residences, the “Impérial Bay”. Its apartments with sea views attract a well-off clientele, ready to pay from 8,000 to 10,000 € per sqm. Three more addresses lie on the territory of Théoule : “La Galère”, a private guarded estate with highly-coveted apartments right at the water’s edge, and Miramar with its exceptional addresses - Avenue du Groupe Naval Dassault, Boulevard de l’Esquillon -, which is one of the most highly-prized areas. By way of example, Immocial Transactions recently sold a seafront villa of 200 m² here, in need of renovation, for 2,600,000 €. Finally, bordering on Le Var, the residential hillside of Le Trayas overlooks the harbour of La Figueirette. Julien Pettine talks about a lively market overall which, after a notable slowdown in 2012, has seen something of an upturn since 2015.
Martina Aniansson of Educata International agrees that the market in Théoule has been much more active since 2015. “The European economy is doing better, interest rates are low, and sellers have been setting more realistic prices.” Her agency receives frequent enquiries from Scandinavian clients, but also others from Germany, Switzerland, the Netherlands etc. For Théoule is primarily a market comprised of holiday homes with superb panoramic views and very high prices. Most of the buyers are aged between 50 and 60, looking for a property in Théoule to benefit from the Côte d’Azur, its sunshine, beaches and delightful lifestyle, and sometimes making it their year-round residence. According to Martina Aniansson : “The Miramar neighbourhood is especially lively, you can find smaller apartments here. We recently sold several examples between 45 and 60 m2, with 1 or 2 bedrooms, in very good condition, enjoying magnificent views of the sea, and pegged at 6,000 € per sq. metre”. In the highly sought-after “Imperial Bay” with its luxury pool, the agency handled the sale of a split-level apartment of 90 m2, renovated throughout, with a terrace just above the sea, priced at 665,000 €. The “Domaine Roc et Mimosas” also has some fine opportunities, with villas on offer from 1 million euros.