Property prices in Saint Tropez
The Saint Tropez market is in full expansion claims one agent “For the past eight months the middle class has totally disappeared” simply speaking, no offers or requests for villas around the 1 Million Euro mark in Saint Tropez.
However there are clients who are actively searching for properties in the Saint Tropez area, with budgets ranging from 3 to 40 Million Euros, the last figure mainly being for waterfront properties. It appears that the smaller budget clients are leaving the Place des Lices and aiming for the more accessible ports such as Port Grimaud, Marine de Cogolin and Port Cogolin, where the original fisherman’s houses have taken a high rise in price, at approximately 40% increase during the past two years, prices can range from 700,000 Euros to 4 million Euros.
Prices in the port area begin at 1.5 million Euros for a two bedroom apartment, with no sea view, the prices are around 600,000 Euros. There are very few apartments on the market and they are generally sold very quickly.
The demand for individual villas is still very high, with a great deal of properties that have been sold during the winter 2007/2008. As villas become more rare, the prices increase as much as 40%, meaning up to 60% since the conversion of the Euro. The areas of Capon and Pinet are very sought after, residential areas which are facing the sea, South East and close to the village. Being on the “right side” of Saint Tropez, with very little traffic during the summer, these properties are considered luxurious also due to the fact that they have large grounds and no vis a vis. A 120 m² villa in need of renovation on 1000m² of grounds has been sold for 1.5 Million Euros, the average is approximately 10 Million Euros. The areas such as Les Canoubiers and Salins are also appreciated for the proximity to the sea and the village. In these areas, prices range from 5 to 20 millions Euros depending on the villa. The famous private domain Les Parcs de Saint Tropez is in this area. Attracting a mainly Northern European clientele, ready to spend a minimum of 7 Million Euros. Capilla and Les Treilles de la Moutte are also worth mentioning.
The domain Sinopolis mainly attracts a British clientele, for three reasons: The spectacular sea views, a good quality/price, and the fact that it is close to Gassin golf club. The only inconvenience, the bad traffic during the summer months.
Saint Tropez does not suffer from local crises, but worldwide ones, to understand this, we have to look at the buyers. In the higher end of the market, 90% of the buyers are foreign. The Russians have been present for the past couple of years who generally have the highest budgets, followed by the Belgians, the English, the Scandinavians and the French.
The high prices should not destabilise the Tropezien reality. The countryside is characteristic, wide, authentic and varied. A winey road leading through the vineyards and arriving on a lovely sandy beach, you cant get much better than that!
Extracts and various information taken from Residence Immobilier Magazine.