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Style/ News & Trends

Sean Connery’s French Riviera home is on sale for US$33 million – as France leads the post-Brexit, post-coronavirus property boom

From vineyards to villas by the Mediterranean and Parisian pied-à-terre, as France’s real estate market reopens post-Covid-19 lockdown interest is booming, particularly among cash-rich Chinese investors and Britons wanting to beat Brexit deadlines

Sean Connery’s former home Villa Le Roc Fleuri is on the market for a cool US$33.8 million. Photo: Knight Frank

With lockdown restrictions easing, and the formal end of the Brexit transition period drawing ever closer, French property agents are reporting a flurry of interest from British buyers.

Sean Connery’s former home, Villa Le Roc Fleur. Photo: Knight Frank
Sean Connery’s former home, Villa Le Roc Fleur. Photo: Knight Frank

Britons have always been the most prolific buyers of second homes in France because it was so easy for them. Europe's much-loved, most-visited country is just across the English Channel, with no entry visas required or restrictions on length of stay.

After the Brexit transition period ends (currently set for December 31, 2020), Britons, like any foreigners, will still be able to buy property in France, but the rules may change. Though details are still being ironed out, agents say questions around tax and freedom of movement are on the minds of property investors. This may motivate some to secure their second home while still being safeguarded by EU member freedoms.

An eco-friendly home near the historic town of Saverne in Alsace, France. Photo: François Vézien
An eco-friendly home near the historic town of Saverne in Alsace, France. Photo: François Vézien

The portal French-Property.com reports that May broke all previous records for searches and inquiries on its site.

According to Pat Monk, managing director at French-Property.com, there were more than 900,000 property searches in May, an increase of 169 per cent over the same period in 2019.

“While a lot of the interest might have been dismissed as casual activity during the lockdown, inquiries to sellers rose by 88 per cent to nearly 7,000, {which is} also a record,” she said. “The highest daily count occurred on the last day of the month, following the announcement of the easing of the lockdown in the UK, when there were nearly 400 inquiries on property for sale.”

Monk added that nearly 90 per cent of inquiries have been from buyers proposing to buy within the next six months, which is “substantially higher than we normally observe”.

“It is clear many UK buyers plan to relocate to France to become resident before 31 December, after which visa requirements apply,” she said.

For sale: an eco-friendly architect’s own home near Saverne in Alsace, France. Photo: François Vézien
For sale: an eco-friendly architect’s own home near Saverne in Alsace, France. Photo: François Vézien

Yet apart from more locally based interest, Knight Frank reports increasing Asia-based inquiries for property in France, particularly from China.

Says Edward de Mallet Morgan, partner, super-prime sales at Knight Frank: “The top end of the residential real estate market in Paris seems to have picked up a lot in the last couple of weeks with increasing inquiries from all around the world – not only for flats with monument views, but also for houses with gardens and outside space. Albeit interest for the top end of the market in Paris has always been globally mixed, just like other capital cities, we have noted a particular increase in interest and inquiries from buyers from Asia.”

He adds that the reopening of bars, restaurants and shops has put Paris “back on the menu for global buyers and real estate investors, and this will only increase further when buyers are able to fly to and from the US, Asia and the Middle East.”

This eco-friendly home is for sale for US$356,000. Photo: François Vézien
This eco-friendly home is for sale for US$356,000. Photo: François Vézien

Hugh Dixon, a member of Knight Frank's private office team specialising in global real estate investments for high-net-worth clients in China, says these individuals “have an ongoing love affair with France”.

“There are few countries in the world that offer such fantastic culture, amazing food, great cities and perfect summer or alpine retreats,” he explains. “Since lockdown restrictions began to ease across Europe, we have seen an increasing demand from Chinese clients looking to purchase property there. Whether that be a holiday home in the South of France, a pied-à-terre in Paris for those who spend time there for education or annual shopping trips, or a vineyard in Provence to sate their passion for French wines, there are clients interested in all areas. And, with healthy budgets too – anywhere between €3 million (US$3.39 million) in Paris for a flat in a popular arrondissement to €20 million (US$22.5 million) for the acquisition of a vineyard.”

What's on their shopping list? According to Knight Frank's Kate Everett-Allen, demand has heightened in the periphery of Paris, in Versailles and Saint-Germain-en-Laye, Neuilly-sur-Seine and Boulogne-Billancourt. Buyers seeking more space have pushed inquiries for properties in Provence up by 20 per cent in the first four months of 2020, compared to the same period last year, while in the Cote d'Azur, buyer appetite is focused on villas where there is usable outdoor space.

Manoir de Pigranel in just inland from Cannes. Photo: Knight Frank
Manoir de Pigranel in just inland from Cannes. Photo: Knight Frank

“In southwest France, improved connectivity has meant that we have seen an encouraging number of Asia-based expats looking for a holiday home in the Gers and Dordogne region,” she says. “Lower values and larger plot sizes means most properties offer generous outdoor areas.”

The French Riviera, sunny playground of the rich and famous, has also held up well during the pandemic. “The French Riviera has been a proven long-term store of wealth since the 1850s, and in times of trouble, investors tend to give preference to traditional, tried-and-tested locations,” explains Alex Balkin, executive director of Savills for the French Riviera and French Alps. “The real estate market in the Riviera ticks those boxes. France is a very developed country, from every point of view, and that social, educational, cultural and infrastructural sophistication is part of what makes France and its real estate so attractive.”

One of Paris's 'secret town houses', Rue de Cherche-Midi. Photo: Knight Frank
One of Paris's 'secret town houses', Rue de Cherche-Midi. Photo: Knight Frank

Though physical viewings were restricted, Balkin says people used the time to focus their search – and that includes buyers from China. “The French Riviera and its hotspots are becoming household names with the Chinese cognoscenti, and we have received signs of interest, mainly for high-end off-market properties,” he said.

The French Riviera is renowned for glitzy, uber-luxe properties. If bragging rights are key, Knight Frank is selling Sean Connery's former home on the Cap de Nice waterfront for €30 million (US$33.8 million). Villa Le Roc Fleuri is a 1,000 square metre (10,760 sq ft) Belle Epoque-style villa set in terraced gardens running down to the sea, with an indoor pool, outdoor saltwater pool, two independent guest villas and “jaw-dropping views along the glittering Cote d'Azur”.

Parc du Cap in Cap d'Antibes includes two 5-storey buildings providing 88 flats. Photo: Savills
Parc du Cap in Cap d'Antibes includes two 5-storey buildings providing 88 flats. Photo: Savills

For a slightly more modest €4.5 million (US$5.1 million), Savills is offering a newly built boutique residence in Cap d'Antibes. The development, Parc du Cap, includes two five-storey buildings providing 88 flats, ranging from one bedroom to duplex and penthouses with rooftop pools. The landscaped grounds include a tennis court, pool, spa and gym.

While Balkin agrees that “it helps” to be a millionaire if you fancy a home on the Riviera, he points out other price points. “For example, we have just launched a new development near Monaco, where two-bedroom sea view flats are offered at €600,000 (US$676,0000)."

Parc du Cap in Cap d'Antibes. Photo: Savills
Parc du Cap in Cap d'Antibes. Photo: Savills

Buying guide

What you can buy for €316,000 (US$356,000)

The home of an eco-friendly architect near the historic town of Saverne in Alsace, France. In harmony with nature, it features extensive use of wood along with roof planting, natural lighting, solar panels, and a geothermal system for passive heating and cooling. According to Espaces Atypiques, the property should appeal to buyers who share a philosophy of eco-responsible living.

What you can buy for €20 million (US$22.5 million)

One of Paris's “secret town houses” with a rare private garden in Rue de Cherche-Midi, 6th arrondissement. Near the Luxembourg Gardens and Le Bon Marché, this hôtel particulier, a grand French-style town house laid out over four floors, is nestled behind the Saint-Germain Haussmann facades facing southwest.

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