French-born, English playwright, novelist, and short-story writer W. Somerset Maugham—apparently the highest-paid author during the 1930s—is known for many witticisms. Among them this gem: “Money is like a sixth sense without which you cannot make a complete use of the other five.” Maybe you’d like to invest in property in this incredible location?
Refuge for World’s Most Fortunate Citizens
With this in mind, you could do far worse with your money. If you want to indulge your senses, invest in property in Saint-Jean-Cap-Ferrat. This is an exclusive peninsula jutting only 10 minutes drive north of Nice, France, nestled just south of the Principality of Monaco.
Known for its prestigious villas, waterfront properties, and private beaches, Saint-Jean-Cap-Ferrat is a “commune” with a population of 1,573 situated in the Alpes-Maritimes department in the Provence-Alpes-Côte d’Azur region in southeastern France. This enclave has nurtured a reputation as a refuge for the world’s most fortunate citizens—from movie stars to business moguls.
The Côte d’Azur depends mainly on tourism—the region is home one to one of the world’s grandest hotels, the Grand Hotel du Cap Ferrat, a five-star luxury “palace” offering panoramic sea views—but those accustomed to living in style will also attest to the considerable investment value in owning exclusive properties in Saint-Jean-Cap-Ferrat; a second, or perhaps third home, for rental. Property prices are rising between 7% for villas and 16% for apartments, according to the Monaco Tribune.
Beautifully appointed waterfront villas in Cap Ferrat are some of the most desirable and sought-after properties in the world. Contemporary properties, newly built villas, penthouses, apartments with sea views, and traditional Provencal properties are plentiful, while villas ripe for renovation and resale opportunities abound. Here are further good reasons to invest in property in the Côte d’Azur.
1. Business is Booming
Apart from tourism, business creation is rising steadily, with new business registrations growing at 19.2% in 2018, compared to 16.9% at the national level. Among the sectors attracting attention are technology, transportation, and services. With this economic uptick comes the potential to land a stimulating new job. Want to launch a new career?
2. The Perfect Climate
The Mediterranean climate is world-renowned. Boasting approximately 300 days of sunshine every year, temperatures are optimum through all seasons; not too hot in summer and mild in winter when temperatures rarely drop below 10°C. Rain is rare, affording terrace and garden living day in and day out; dining al fresco is, of course, a must.
The beaches and coves of the French Riviera are a major drawcard. Pampelonne in Ramatuelle, the Garoupe in Cap d’Antibes, and the fishermen’s cove in Monaco, to name just a few. Beach outings, water sports, and other summer activities are many, offering with them the potential perhaps to share in the celebrations of many a Hollywood star and his or her entourage who have taken up residence nearby to soak up the finest pleasures of life.
3. Escape Big City Living
As the COVID-19 era speeds up the remote work phenomenon, many of Paris’s more well-heeled “high-flyers” have decamped stressful city life, bowing out of the traffic, crowded sidewalks, and pollution. What could be more attractive than living AND working in one of the world’s most beautiful areas?
As far as rental investments go the region is dynamic. The nearby cities of Monaco and Cannes—famous for their film festival—bring thousands of visitors each year to professional congresses and other high-profile events requiring temporary accommodation. Investing in an apartment with a view-to-rent plan is foolproof. Buying an investment property during our current pandemic does have some obstacles you should be aware of.
4. Winter Wonderland
The French Riviera is a stereotypical “picture postcard” of the pristine beaches and crystal-blue water of the Mediterranean Sea. The Alpes-Maritimes department, however, offers an alpine hinterland perfect for winter pursuits such as skiing, snowboarding, or simply bundling up for a snowy, fireside, romantic getaway.
Isola 2000 and Auron—less than an hour-and-a-half drive from the Cap—are the most popular and famous ski resorts in the area, offering superlative snow cover and amenities for an adventurous vacation, and a safe bet as a rental property investment.
If you are looking to invest in property in another country, please include the French Riviera on your shortlist.