Valbonne : soaring prices !
Radia Amar - 04 November 2021
In less than a year, some properties have seen their prices rise by 30 % ! This unprecedented surge in the market in Valbonne confirms the commune’s appeal among both French and foreign buyers.
Covering all aspects of real estate under the management of Florence Beglia, the Côte d’Azur Villas agency has been based in Valbonne for almost 20 years. “In the case of sales, we offer our clients a wide diversity of
properties ranging from apartments to luxury villas, within an extensive area. We also place our rental portfolio at their disposal, containing almost 400 properties on the Côte d’Azur, in Saint-Tropez and Provence. Since 2020, we have seen a new market develop, comprised of a French clientele mainly in search of villas with gardens, a pool, and even, if their budget allows it, a sweeping view. In the region around Valbonne, most of this demand concerns properties worth 800,000 to 1.7 million euros. Since the beginning of the year, we have also seen the return of international clients, mainly from northern Europe, Scandinavian countries and the United Kingdom, who had vanished at the start of the pandemic. Their search criteria are comparable to those of French buyers, though they tend to prefer residences on estates near Valbonne, but with more luxurious appointments and views of the sea. Their budgets range from 2 to over 5 million euros.” Florence Beglia adds that stocks of available properties are running out. “Our search for new mandates will now be crucial. Previously, it was standard practice to negotiate a 5 to 10 % reduction of the sales price. Today, bargaining hardly ever happens and properties sell at their asking price. Near Sophia Antipolis, the village of Valbonne blends year-round economic dynamism with a quiet and particularly privileged environment.” Run by Gérald Gomis, the Bartimmo agency devotes itself solely to sales on the Côte d’Azur, mainly in the area comprised of communes in the hinterland behind Cannes. “Today, demand mainly focuses on two categories of properties : large residences with pools, near the village, ranging from 1.5 to 3 million euros, and village houses - from 300,000 to 500,000 € - at the heart of Valbonne. Availabilities are, however, few and far between due to growing demand: since June 2021, our agency recorded a rise of 200 % in sales volume ! Furthermore, the pandemic has led to migration on the part of buyers to the back-country, and to houses with gardens. Thanks to democratisation of teleworking, many owners of apartments - whether local, Parisian or foreign - have sold their properties to move to the countryside behind Cannes, in homes offering outdoor areas. In the uncertainty caused by the health crisis, a significant percentage of owners also withdrew their houses from the market and adopted a wait-and-see attitude, leading to the scarcity of offerings that now characterizes the market.” Gérald Gomis confirms that negotiations are a thing of the past ; sales are now concluded at the asking price. “Over the past year, prices have soared by 30 % ! In Valbonne, we have never before seen such a rise. The most sought-after locations are those within walking distance of the village, given that almost 80 % of acquisitions concern year-round residences.” As for new properties, our specialist explains that new apartment developments are becoming more rare, whereas new villas are the subject of on-going enthusiasm and generous offerings, at an average price of 5,800 € per sq.m.