This is a glorious apartment on the western edge of Palm Beach closest to the Croisette and Cannes itself, and just a short block to Port Canto, the wonderful Bijou Plage and the beaches of the Croisette. It is in a fabulous position for almost every purpose; to live in, to holiday or to rent for congresses, festivals and holidays. It is situated just 1 minute (walk) from the best patisserie in Cannes in our opinion, serving the best baguettes, banettes, pastries, light lunches and all-day coffees and cappuccinos (that is “Cezarine”). Vicky and I use it all the time! In the same village are all the little shops one could need for groceries, meats, fish, hairdresser, post office, pharmacy etc.

The apartment has been renovated to a very high (luxury) standard, and luxuriously furnished, and there is generous space. A large living and dining room give onto a spacious sunny terrace with a view of the sea at Port Canto. The modern equipped kitchen gives onto a separate kitchen balcony, and the large bedroom leads onto its own balcony through double glass doors and has a lovely bathroom and toilet en-suite with windows. In addition there is a separate shower, and a guest toilet.

As it is, this apartment is used very successfully for rentals for summer holidays and conferences, being at the Cannes-end of Palm Beach and only 10 minutes walk to the Palais des Festivals (and 3 minutes to the 5-star Hotel Martinez). The apartment is being sold furnished.

• South facing terrace.
• 2nd floor of 5 or 6.
• Aspect south and west.
• Construction 2007.

For a description of this apartment I cannot do better than paste the sellers own description, from his own website created to market this apartment.

Luxury, fully air-conditioned two bedroomed apartment in Cannes – sleeps 4. Beautifully furnished to very high standard. Ideal for South of France, Riviera or Provence holidays. Alternatively, an ideal base for business trips to South of France, the Cannes Film Festival or the numerous other festivals hosted in Cannes during the year.

Bedrooms and bathrooms

• One double bedroom, one twin bedroom.
• En-suite bathroom adjoining the double bedroom.
• Separate shower room.
• Separate WC.
• Reading lamps, bedside cabinets and fitted wardrobes in both bedrooms.

Kitchen
Fully fitted kitchen complete with stainless steel washbasin, microwave, washer/dryer, dishwasher, fridge/freezer, electric hob & extractor fan, breakfast bar – kettle, toaster, coffee-maker and all necessary cooking utensils and crockery.

Lounge/dining room
Tastefully decorated and comprising 3 person sofa, wrought iron/glass dining table with matching chairs, coffee table, two leather armchairs, dresser & buffet in white pine, further occasional glass topped table, TV & DVD.

Balcony
French windows (with electric shutters), leading onto a spacious balcony with patio table and chairs. The balcony is south facing and a real sun trap!

Other Facilities

• Superbly located – just minutes walk from the very heart of Cannes.
• Newly built (completed 2007), 2nd Floor apartment in small block.
• Videophone secure entry system.
• Lifts to all floors.
• Private underground garage beneath the apartment block.
• Floor tiles throughout the apartment.
• Fully air-conditioned.
• All appliances including the immersion heater are electric throughout.

If you are looking for value, you need to look at this option – it comes with everything!

• Attractive spacious terrace.
• 1st floor of 5.
• Aspect south and west.
• Open views of gardens.
• Swimming pool.
• Garage in the basement.
• Cellar in the basement.

This attractive one bedroom apartment is in a high quality modern building (2005) and has all the quality features one would expect such as a modern equipped kitchen and bathroom, air conditioning, electric blinds and shutters, double glazing, and a garage and cellar in the basement. The glorious pool is for the use of residents and in summer is serviced with sun beds and umbrellas, and the gardens are immaculate.

In terms of position, the apartment is on the eastern side of Palm Beach, and very close to the sea and the beaches of Mouré Rouge and Gazagnaire on the Antibes facing side of the peninsula. That said it is a short walk to the western side and the glitzier Bijou and Cannes main beaches and to the centre of Cannes itself. Similarly, restaurants and a complete range of local shops, bakery, newsagent, hairdresser etc. are a few minutes’ walk away in the heart of Palm Beach.

• 1600m² of land.
• Orientation east and south and west.
• Construction 1928.
• High ceilings.
• Cloakroom and guest toilet.
• Separate studio apartment.
• Panoramic sea views.
• Beautiful pool.
• Summer kitchen and Barbecue.

This prestigious five bedroom villa is located right at the fortified edge of the hilltop mediaeval Vieux Village de Mougins. It enjoys stunning and unobstructed views over the Bay of Cannes, the Iles de Lerins and the Mediterranean, yet it is only 100m away from the many galleries, shops, cafes and world-renowned restaurants contained within the Old Town’s historic walls.

The villa comprises 340m² including the guesthouse and summer kitchen and is built over four levels. It features five bedrooms, a grand living room with balcony, a secondary living / reception room with grand piano, kitchen and dining area, and extensive poolside terraces, lawns and barbecue. All bedrooms have private bathrooms.

The main entrance leads into the large entry foyer which features a grand piano, and is separated from the main living room by arches. The vestibule and cloakroom / guest toilet are adjacent to the entrance. The living room has French doors that lead onto a balcony with stunning views. The spacious dining area has a large dining table that seats 10.

The well appointed traditional French country style kitchen has all modern appliances including a five burner gas stove, separate conventional and microwave ovens, dishwasher, American style fridge freezer with ice-maker, and ample work surfaces and storage space.

The upper level is reached from the main floor via a broad staircase with graceful wrought iron railings, and comprises the master bedroom suite and a guest bedroom. The guest bedroom has a tiled en-suite bathroom and original bathtub and basin, and a wall mounted overhead shower and toilet while the impressive master suite occupies the balance of the upper level and is filled with light and fresh air. It opens through multiple glass doors to a lovely balcony which runs along two sides of the suite, with sea views, views of the green hillsides and rooftops of Mougins, and the lush garden and swimming pool area three floors below! It is comprised of a sitting room and, passing through arches, a large bedroom with four poster bed. The spacious en-suite bathroom has a bath and shower, granite surfaces and twin basins.

The lower level is reached by stairs down from the kitchen and comprises a family room (second living room) opening through glass doors onto a lovely terrace with wrought iron railings and a wooden table that seats 10. It is an ideal venue for lunches and dinners whilst enjoying the stunning views and absolute privacy. On this level are two more bedrooms, each with bathrooms en-suite and lovely views out over Mougins and the sea. Also on this level are a laundry room, and a door to the illuminated stone path that leads down to the pool level.

The 5.5m x 11.5m heated swimming pool is surrounded by landscaped gardens, with flower beds and shrubs. As the entire property is encircled by walls or high shrubs, the pool, garden and summer kitchen are entirely private.

A path flanked by lemon trees leads to the summer kitchen built in an old stone house, sunny and cheerful with a simple but well equipped kitchen and a rustic wooden table to seat six.

Just above the pool level, and reached via a charming garden path from the pool is a simple but pleasing studio apartment, with an en-suite bathroom. It is very private, and has access to the main gate without going through the main house if required.

• 111m² of living space.
• 13m² of west facing terrace.
• Aspect west and east.
• 4th floor of 6.
• View of trees and gardens and the sea.

In the heart of Palm Beach, on La Croisette, facing west and facing Cannes but traversing the building to the quiet courtyard behind, in a top class building with guardian, this apartment ticks many boxes!

The entrance hall opens into a lovely vast living room which in turn leads onto the spacious 4th floor terrace / balcony. This overlooks the Croisette but is set far enough back and separated by gardens that the Croisette is not right below. Across the Croisette are the gardens alive with colour and charm, and the famous cypress trees which are such a feature of Palm Beach. The view is predominantly of the gardens and trees with the sea (just 100m distant) and the elegant and exclusive Bijou Plage peeping through the trees at intervals. It is a glorious and a very prestigious setting.

The apartment is large and the rooms spacious, there is room to fit a third bathroom if desired, and much of the work will need to go into completely re-creating the kitchen.

It is a deceased estate and someone is going to create a diamond from this rough.

Value wise – it is correctly priced given that a renovation must be undertaken, but as I have stressed before in this letter, it is still a buyer’s market and a fair offer might be accepted.

• Spacious terrace on two sides.
• Aspects east and south.
• 3rd floor of 6.
• Panoramic views from the Cap d’Antibes to St Tropez!
• Extra guest shower and toilet.
• Garage in the basement.
• Designated parking space plus ample guest parking.
• Cellar in the basement.
• Beautiful gardens and swimming pool.

Situated on, and set back from, the most prized boulevard in sought after La Californie, the prestigious gated residence is high on the hillside overlooking the Bay of Cannes. There is quite simply no better address, nor more valuable location in France!

The residence has everything – guardian, security, quiet and privacy, lovely gardens and a glorious swimming pool.

The apartment itself is extremely spacious with 164m² of floor space and extensive wide terraces. It has three generous bedrooms with bathrooms en-suite and an additional shower and extra guest toilet. The living room is vast, and the kitchen with dining room is very spacious too – plenty of storage, a garage and cellar in the basement, a private parking space and easy guest parking. And the VIEWS! They are quite breath-taking from the 3rd floor of a building which is already raised! In the east are Juan les Pins and the Cap d’Antibes, and in the extreme west are the Red Esterel hills and St. Tropez. In the foreground are Cannes, the Bay of Cannes and the Iles de Lerins.

The apartment is immaculately kept and lived in, but would benefit from a renovation to maximise its potential for new owners.

• 500m² of land.
• Orientation east, south and west.
• 3 Bedrooms on two floors.
• 2 Bathrooms.
• Separate studio apartment.
• Panoramic sea views.
• Beautiful pool.
• Barbecue.
• Garage and parking.

This beautiful and exclusive villa is at the very top of the most secluded gated domain on the French Riviera. Conceived in the early 1970’s and consisting of nearly 1 500 exceptional homes built in stages and completed in the 1990’s, this is the only fully secured community on the Riviera, with 24 hour security and manned gate and entry.

Of course it covers a vast piece of sea-facing hillside above Villeneuve-Loubet, and the internal roads twist and turn up through the properties, past beautifully maintained gardens, landscaped parks, lakes and ponds teeming with wildfowl, and a complete and self-contained shopping centre with everything, including restaurants. Over 66% of the total area of the domaine is preserved as forest parkland.

One overlooks the seaside towns of Villeneuve-Loubet and Antibes, making it just 10 minutes to Nice International Airport, 15 minutes to the centre of Nice, 10 minutes to Antibes, and just 20 minutes to Cannes. The views are spectacular and the situation is perfect, which is why this super-secure development has become what it is – highly sought after and reputed for its quality and its privacy.

The villa itself is at the very top of the development, private, utterly quiet and with views to take one’s breath away. Built on two levels it comprises a lovely living and dining area with a fireplace, a modern and fully equipped kitchen, and a downstairs bedroom with bathroom. On the floor above are two more lovely bedrooms, and at the side of the house is a completely separate studio apartment with access to the main house and independent access to the garage car park.

The well developed garden and terrace include a barbecue, and of course a glorious private swimming pool, although the “domaine” has an Olympic sized swimming pool, 8 tennis courts, sports facilities and gym for residents if one wishes to use them.

• 1800m² of land.
• Views of the villages and hills.
• Separate studio apartment.
• Conservatory – winter garden.
• Veranda.
• Terraces.
• Pool.
• Covered parking.

This is a lovely villa, modern but built in the true Provencal style in keeping with the surrounding environment of Opio and Chateauneuf de Grasse of which it is a part. It has been built, developed and loved and the finishes and detail are all of a very high standard.

It almost borders the Golf de la Grande Bastide!

The villa enjoys light and open living spaces and a wonderful open kitchen and dining area, spacious bedrooms all with bathrooms (2) or showers, and a rather charming conservatory.

The garden is beautifully established with tracts of lavender, oleander, firs, climbing grape vines and well established olives.

The views across the golf course on which it almost borders, and the villages of Opio and Chateauneuf de Grasse are charming, and the emphasis is on outside living with a glorious swimming pool, comfortable outside seating areas, covered terraces, and for winter-time, the conservatory of course.

The situation just a few kilometres from Grasse and 25km from Cannes and just 20 minutes from Nice International Airport couldn’t be more convenient.

Opio and Chateauneuf de Grasse are charming and historic mediaeval villages with ornate period windows, lintels, porches, stairways, sculptures, and quaint doorways and passages all dating back to the XVI century and before.

The Golf de la Grande Bastide was established in 1990 and is today one of the foremost on the Cote d’Azur. It sits at the foot of the hills, and the views are magnificent all the way from the mountains and hilltop villages to the sea and the Bay of Cannes. Designed by Cabell Robinson the course is essentially contemporary offering wide open fairways, it is fairly easy on the legs, and with a degree of difficulty that is not too onerous!

• 5th and top floor (with lift).
• Early 20th century building.
• Orientation east.
• Views of the Old Town (Le Suquet), the hills and the Old Port.
• Spacious living room.
• Open plan kitchen.

This is all about position. The apartment overlooks (obliquely) the Old Port of Cannes and is a very short two minute walk to the Palais des Congres. It is an absolutely perfect location for congress and holiday rentals and is in very presentable condition and ready to work. As investment property, in this position right in the Banane, it is hard to beat.

The apartment is light and spacious, it has some charm and it certainly has potential to be very charming if a little imagination is applied to it. It has all the essentials.

• Historic Mansion.
• 1 400m² of land.
• Orientation south / west / east.
• Construction 1840 / modified 1870.
• 5 huge bedrooms.
• Grand living and dining.
• Vast halls.
• Very high ceilings.
• Original fireplaces and original frescoed ceilings.
• Views of the historic garden from the ground floor.
• Views of the sea and the Cape d’Antibes from the 1st floor.
• Utility rooms, garages, pool house.
• Summer kitchen and barbecue.
• Heated swimming pool.
• Separate guardians house on three floors in need of renovation.

“LA BASTIDE”, bourgeois mansion constructed in the 1840’s by the Baron De Radhen and modified after the war of 1870. Baron De Radhen was an associate of Gustave Eiffel and many other illustrious characters of the age.

The property consists of 1 400m² of land planted over a period of 200 years with a unique and diverse collection of over 60 palms, three hundred year old Lebanese cedar and magnificent jacaranda. This oasis is without doubt the most beautiful in the commune of Golfe Juan and one of the most beautiful on the coast.

The exceptionally gracious mansion of 450m² has ceilings 3.6m high on the ground floor, and 5.6m floor to ceiling on the 1st floor. (That is not a misprint – 3.6 and 5.6m!) The matchless construction and appearance of this picturesque piece of history, lovingly and carefully restored over 30 years allow us to turn back the clock and appreciate the age old elegance, rich in tradition, steeped in history, but with all the comforts we demand in our busy modern lives.

On the ground floor is a huge reception hall, followed by another serving the common areas and the staircase to the first floor. On the right is a large living room with a beautiful original fireplace in rose marble, original woodwork and original frescoes on the high ceiling. Glass doors open onto the garden and another set to the original conservatory with its glass roof. This conservatory is over 150 years old and has a waterfall and rock pool, beautiful original glass – it is age old elegance restored!

To the left of the entrance hall is the dining room which communicates to the office. It has a massive stone fireplace, original woodwork and glass doors opening onto the garden. Behind the dining room is a huge and beautiful kitchen, totally equipped but in a style “à l’ancienne” with a fireplace and a bread oven, oak beams, and large glass doors leading to the outdoor summer kitchen and eating area.

Off the second entrance hall is a large furnished laundry with shelving and storage for linen, and a furnished and securitised cellar towards the back of the building. Also at the back of the building and close to the service entrance is a washroom and toilet.

The first floor, with its 5.6m high ceilings also has beautiful frescoes on most ceilings!

At its centre is a large hall (50m² in extent) currently used as a beautiful office with lovely views. It has a large fireplace and three big windows overlooking the gardens, the sea, the bay of Golfe Juan, the Old Port, the Cap d’Antibes and the Iles de Lerins. The floors are in original black and white marble.

On the left of the hall is a very large bedroom with a white marble fireplace, inlaid floors and a bathroom.

On the right is an even larger bedroom with a fireplace, inlaid floors, huge window with the views enjoyed by the hall.

Off the hall there are another two bedrooms and a bathroom, and stairs to the attic which is entirely renovated, and furnished, with a fifth bedroom.

At the back of the property is a (caretaker’s) house on three levels measuring some 60m² and in need of renovation. There are garages, an aviary, a summer kitchen and barbecue at the side of the house near the kitchen and dining room, a salt water heated swimming pool and pool-house with shower and toilet and kitchen, and Jacuzzi. There is an ancient but working well, and the garden is automatically irrigated from the well or the municipal water supply.

The roof has been recently replaced in its entirety, with new beams, and old mouldings, cornices and corbels have been renovated as have all the shutters and the exterior paintwork.

• 3 100m² of land.
• Orientation – south.
• Construction 2010 / 2011.
• Separate guardian’s cottage.
• Separate studio apartment.
• Pool house.
• Utility rooms.
• Views of garden and woodland.

This magnificent property is on 3 100m² of landscaped grounds just outside the Royal Mougins Golf Course! It is quiet, fully enclosed, private and secure.

The exterior is very well planned and thought out with a 6x10m swimming pool, a Jacuzzi, arches, lights, fountains and numerous very useful outbuildings and utilities.

The extremely modern villa is built on three levels with a huge games and entertainment area (or discotheque / movie theatre / gym) below ground with windows allowing natural light in through the pool! It is a wonderful space, and huge.

On the ground floor there are three entrances to allow private access, 100m² of living space and a beautiful 80m² master bedroom suite.

On the first floor there are four bedrooms with bathrooms and terraces overlooking the pool and garden.

The villa has been built using the most modern equipment and appliances, under-floor heating, air conditioning, a dust extraction system, Italian Pietra Serena sandstone floors from Tuscany in the living rooms, and bamboo flooring in the bedrooms. There is a sauna, a whirlpool tub, double glazing throughout, centralised electric shutters and locking, barbecue, fireplace….the list goes on.

The beautiful ensemble is complemented by a caretaker one bedroom cottage of 55m² and a guests studio apartment of 45m² finished to the same quality and specifications as the main house.

I’m changing the Property Letter a little – It has less information in the letter itself, but links to web pages on our Azur-Accom website allowing you to easily…
Read the stories you want to read;
See the properties you want to see;
Read descriptions and see photos and maps of those properties;
Read profiles of the areas or suburbs they occupy.

“THE FRANCE SHOW 2012.”
LONDON EARLS COURT – 13 – 15 January 2012.
We will be exhibiting and meeting people – Ghislain, Alice and I will be there
Please come and find us at our AZUR EDEN stand #159.

It’s a BUYERS MARKET – don’t forget!
Make an offer – there are sales taking place and reasonable offers are being accepted.

Savills Private Finance
Traditional prime property hotspots which attract wealthy, lifestyle buyers have been more resilient in terms of capital values. They include areas of southern France, the Alps, the Algarve, Tuscany and high-end locations in Spanish islands such as Mallorca. France has shown itself to be the most resilient second property market in the recession.
Although overall investment in overseas property has decreased, 2009-2011 sales data shows that France, which is also the world’s most popular tourist destination (according to UNWTO), has retained its popularity for buyers. France did not see the dramatic house price decline of neighbouring Spain and its banks have continued to lend on second homes thereby stimulating the market. The relative stability of this market and its ease of access from the UK mean that buyers remain confident to invest.

THE MAGAZINE

Live and let high!
How to enjoy a holiday home, but also make a healthy profit.
From an article by Parmy Olson, London Bureau Chief of Forbes Magazine.
Plenty of people like the idea of owning a second home in Europe for regular, cultured vacations. Many stop fantasizing once they realize they’ll also have a second mortgage on their hands. But what if that second property could make them money?
Canny investors can put a second property to work on several conditions….
“For the short-term letting and good yields, its prime London and Cannes, it’s as limited as that”….Read more

•

Congresses. Festivals. Symposia.
What are all these conferences about?
There are many conferences, from dental and medical conferences, to gaming, magicians’ and circus gatherings and they are all critical to short term rentals in Cannes and to Cannes property sales. Some of the bigger conferences are….Read more

•

Luxury Property Index October 2011.
“Boost in French Riviera Holiday Home Sales”…. Read more

•

Riviera resort shows off its Cannes-do attitude.
Great G20 article from ft.com
“Cannes loves putting on a show. The French Riviera resort does exactly that every year, with what has become, since 1946, the world’s most prestigious film festival. So hosting the latest G20 summit is the sort of big international event the city can take in its stride….”
(Read more)

•

Cannes Property as an Investment.
Not everyone who wishes to buy property in the South of France is doing so purely as an investment, but by the same token nearly everyone wants their property to be a good investment whatever the underlying reason for owning it….Read more

•

The best place in the world to live.
If you are amongst the many discerning people who hope one day to find the perfect apartment for sale in Cannes, to buy an investment property in the south of France or own your own villa on the Cote d’Azur you’ll want to read what “International Living” magazine has to say:
“Every January, we rank and rate 194 countries to come up with our list of the places that offer you the best quality of life. This isn’t about best value, necessarily. It’s about the places in the world where the living is, simply put, great.
For the fifth year running, France takes first in our annual Quality of Life Index. No surprise. Its tiresome bureaucracy is outweighed by an unsurpassable quality of life, including the world’s best health care….Read more

•

The best place in the world to invest according to “Luxury Real Estate Worldwide”

Five of the top 7 luxury real estate markets in the world are in France, and Cannes property sales come in at No 7 according to a joint study by Knight Frank and Citi Bank published on 6th July 2011….Read more

•

Trusts and the SCI.
(This is not a legal document – it is a layman’s understanding of the law. If a legal opinion is required, please contact the writer who will refer you to his advocate, a recognised expert in the field)
Q.
Should I buy property in the South of France in my own name, in the name of my offshore trust, or should I create an SCI?
A.
It was bad before but under new legislation (August 2011) it just got worse for trusts in France….Read more

•

The Société Civile Immobilière or SCI.
Whatever your aim when you buy a property in the south of France, be it an investment property in Cannes, or a villa on the Cote d’Azur, the SCI is the most efficient legal structure and an instrument for managing assets and taxes, and most importantly the tricky issue of inheritance….Read more

With kind regards,
Guy.

All of the property for sale on the Cote d’Azur listed below is in ascending price order.

• The prices quoted are asking prices.
• The selection offered represents a few properties chosen from many, so if what you are looking for is not here we can tailor-make our search for you.

If you are interested to buy property in the south of France one day please follow the links. You will be able to read about the properties, look at a gallery of photos, and see the position of each property on a map.

•

GOLDEN PROPERTIES November 2011.

Cannes-Palm Beach.
Studio apartment.
• 24m² of internal living space.
• 8m² of closed in balcony.
• Orientation west.
• View unobstructed – Place de l’Etang.
• 2nd floor of 5.
• Main living room with bathroom.
• Equipped kitchen.
• Glassed in balcony – sliding windows.
• Cellar in the basement.
• Asking price – 159 000€.

There is a story to this building and a deep fondness. When Vicky and I arrived in France in 2002 to start new lives having been driven from our family farm in Zimbabwe, we bought a studio apartment just like this in this very building and lived there for our first 2½ years! After a sprawling 12 room farmhouse on a 1400 Ha farm in Africa, it was quite a change. Three other early investors also bought studios in this building, we rented them out for them, they appreciated in value, and we have all moved on to bigger properties now, using our earliest purchases as leverage… Read more

•

Cannes Centre – La Banane.
One bedroom apartment.

50m² of interior living space.
Orientation east and west.
1st floor of 4.
View of the street and the Palais des festivals.
Very spacious living room.
Small bedroom.
Separate kitchen.
Shower and toilet.
Asking price – 295 000€.

This is all about position….Read more

•

Cannes – Palm Beach.
One bedroom apartment.
• 45m² of internal living space.
• 14m² of balconies.
• Orientation west and east.
• Views clear across Palm Beach.
• 3rd floor of 5.
• Living room with spacious balcony.
• Bedroom with spacious balcony.
• Equipped kitchen.
• Bathroom and separate toilet.
• Cellar in the basement.
• Asking price – 320 000€.

In the very heart of Palm Beach in a quiet street of understated apartment buildings….Read more

•

House in Palm Beach
To be sold as a unit or separately as two apartments

Ground floor – One bedroom apartment. First floor – Two bedroom apartment.

65m² of internal living space                75m² of internal living space
Ground floor                                               1st & top floor
Orientation south & east                         Orientation south & east
Double living room                                   Living room
Open plan equipped kitchen                  Open plan equipped kitchen
1 Bedroom with walk in closet              2 Bedrooms
En suite bath room                                    En suite bath room
Shower room and toilet                           Shower room and toilet
Ample cupboards and storage               Ample cupboards and storage
Air-conditioned                                         Air conditioned
Asking price 320 000€                           Asking price 373 000€

Together – 693 000€

This is an early 20th century house in a quiet street in Palm Beach, divided into two completely separate apartments….Read more

•

Cannes – Palm Beach.
Two bedroom apartment.
• 56m² of internal living space.
• 12m² balcony.
• Construction 1900.
• Orientation east, south, west.
• 2nd floor of 2.
• Views unobstructed of Palm Beach.
• Large living room – double windows.
• Two bedrooms.
• One bathroom.
• Separate toilet.
• Asking price – 425 000€.

The top floor of this charming 1900 building has been entirely renovated to a high standard. The result is this two bedroom apartment with triple exposure (east, south, west) from its lovely second floor terrace….Read more

•

Villeneuve-Loubet.
Two bedroom beach house.
• 90m² of internal living space.
• Single storey – built 1975.
• Orientation full south.
• View – garden.
• Large living room.
• Two small bedrooms.
• One bathroom.
• Open plan kitchen.
• Huge cellar / downstairs bedroom.
• Parking.
• Asking price 435 000€.

This apartment or small villa is “atypical”. It is a single story beach-house in a short row (of maybe 8 units) of similar beach houses…. Read more

•

Palm Beach .
Two bedroom apartment.
• 67m² of internal living space.
• 18m² of balcony.
• Construction 1990.
• Orientation south west.
• 1st floor of 4.
• 2 bedrooms with balcony.
• 2 bathrooms.
• Garage.
• Cellar.
• Asking price 435 000€.

This apartment is in a quality building in a quiet section of Palm Beach just 100m from the Port Moure Rouge on Palm Beach’s eastern shore… Read more

•

Palm Beach.
One bedroom apartment.

• 55m² of interior living space.
• 13m² of west facing terrace.
• 2nd floor of 5.
• Orientation east and west.
• Large living / dining room.
• Large bedroom with dressing room.
• Bathroom and separate toilet.
• Separate kitchen.
• Garage in the basement.
• Cellar.
• Asking price – 445 000€.

This apartment is in the heart of Palm Beach a hundred metres from the famous and lively village atmosphere of the Place de l’Etang…. Read more

•

Vieux Le Cannet.
Two / three bedroom townhouse.
• 120m² of interior living space.
• South facing terrace.
• Construction 1880 – 1900.
• Orientation south.
• Views of Le Cannet.
• Street level garage & storage.
• Ground floor living room & kitchen.
• 1st floor two bedrooms and bathroom.
• Top floor studio & terrace.
• Asking price – 551 000€.

This is a charming old home right in the heart of Old Town Le Cannet, authentically French with all of its elegance lovingly and carefully restored. It is a quaint and picturesque piece of history – and very low on maintenance. Everything has been renewed, from the plumbing to the electrics and a complete new roof, and we are left with unspoilt Provencal charm entirely intact…. Read more

•

Basse Californie.
Two bedroom apartment for renovation.
• 94m² of interior living space.
• 26m² of terrace.
• 10m² loggia.
• 6th floor of 6.
• Orientation east, south, west.
• View unobstructed to the sea.
• Construction 1975
• 2 Bedrooms.
• 2 Bathrooms.
• Large living room and kitchen.
• Needs complete renovation.
• Very large garage
• Asking price – 1 050 000€

Position and view – in a very high quality building. That is what you are buying here…. Read more

PLATINUM PROPERTIES – November 2011

Golfe Juan.
Two bedroom duplex apartment.
• 77m² of living space.
• Small balcony.
• 2nd and 3rd floor of 3.
• Orientation south.
• View – magnificent.
• 2 bedrooms.
• 2 en-suite bathrooms.
• Guest toilet.
• Open kitchen – sea view.
• Asking price – 545 000€.

This is one of those apartments that words cannot adequately describe and the pictures don’t begin to do it justice! It has to be seen.

Situated on the front right opposite the very charming Quai St. Pierre in Golfe Juan, and occupying the top two floors of a small building, the apartment has been beautifully and lovingly renovated. It is quite delightful…. Read more

•

La Croix des Gardes.
Three bedroom apartment.
• 107m² of internal living space.
• 70m² of terraces.
• 170m² of private garden.
• Orientation N/S/E/W (360°)
• Open views – La Croix des Gardes
• Small view of the sea.
• Garden level of 3 floors.
• Construction 2005.
• Large living room.
• 3 bedrooms.
• 3 bathrooms.
• Open plan kitchen.
• Separate guest toilet.
• Large garage.
• Asking price – 950 000€.

This is a lovely apartment that really should be seen! Read more

•

Petit Juas.
Exceptional 3 Bedroom Penthouse.
• 130m² of living space.
• 135m² of roof terrace.
• Top floor of 8.
• Construction 1985.
• Panoramic views 360°.
• 3 Bedrooms.
• Two bathrooms.
• Glorious living room.
• Jacuzzi.
• Two garages.
• Asking price – 1 595 000€.

This is a truly gorgeous apartment occupying the top and 8th floor of a fairly recent building for the area which is otherwise largely “Old French” in character…. Read more

Just Villas

Mougins – St. Basile.
4 Bedroom villa.
• 135m² of interior living space.
• 1630m² of land.
• Orientation south and west.
• Construction 1969.
• 4 Bedrooms.
• 2 Bathrooms.
• Separate studio apartment.
• View open to the village.
• Pool house.
• Utility room.
• Outdoor kitchen / barbecue.
• Asking price – 1 150 000€.

The secluded gated domain of Sainte Basile in Mougins is popular for its quiet and for its position which is very close to all the amenities Mougins has to offer…. Read more

•

La Garde-Freinet.
3 /4 Bedroom villa with beautiful views.
• 240m² of internal living space.
• 8200m² of land.
• Orientation south.
• Construction 1981.
• Hills falling to a small sea view.
• 3 Bedrooms (4th possible)
• 3 Bathrooms (one a Jacuzzi)
• Gorgeous terrace with Barbecue.
• Pool house.
• Garden shed.
• Caretakers’premises.
• 2 Car garage.
• Asking price – 1 300 000€.
This charming villa is just 850m from the 11th century mediaeval village of La Garde-Freinet, itself established on the 9th century site of the Moorish village of Fraxinet. It lies in the heart of the department of the Var, less than an hour from St Tropez…. Read more

•

Basse Californie – Cannes.
4 Bedroom villa.
• 350m² if internal living space.
• 1000m² of land.
• Orientation south and east.
• Views clear – garden.
• Huge living room,
• Equipped kitchen.
• 4 Bedrooms.
• 4 bathrooms.
• Laundry.
• Garage & car shelter.
• Asking price – 3 200 000€.

This beautiful villa in the heart of the most exclusive suburb of Basse Californie is less than five minutes to the centre of Cannes, and less than five minutes to the chic beaches of La Croisette! And yet it is quiet and tucked away in a leafy nook…. Read more

•

La Californie / Montfleury – Cannes.
New four bedroom villa.
• 400m² of living space.
• 1220m² of land.
• Construction 2010.
• Style “bastide”.
• Reduced transfer charges.
• Orientation east and west.
• View clear greenery.
• 100m² living room.
• Equipped spacious kitchen.
• Dining room.
• 4 Bedrooms.
• 4 Bathrooms.
• Parking for numerous cars.
• Asking price – 3 600 000€.

This magnificent new villa in the traditional “bastide” or French country house style is on the edge of La Californie and Montfleury suburbs, in the foothills of Cannes… Read more

•

St Jean de l’Esterel.
8 Bedroom villa – with a view!
• 750m² of living space.
• 12 000m² of land.
• Orientation south.
• Views panoramic.
• 150m² Living room.
• 8 Bedrooms.
• 8 Bathrooms.
• 9 Toilets.
• 2 Kitchens.
• Completely separate apartment.
• Garages and heliport.
• Asking price – 3 600 000€.

This extraordinary property on more than a hectare of land sits proud in the hills of the Esterel, east of Cannes and overlooking the Bay of Cannes…. Read more

• Two bedroom duplex apartment
• STOP! LOOK AGAIN!
• This is an opportunity.
• 12m² of balcony.
• 5th & 6th floor of 6.
• Construction 1986.
• Views across the city.
• Main living room.
• Open plan kitchen.

This top floor apartment is in a relatively modern and very well maintained, clean and bright building right in the heart of Cannes. It is just 60m from the Rue d’Antibes and 120m from the Croisette and the beaches – and importantly a stone’s throw from the Palais des Festivals. It lies between these two landmarks (the famous Rue d’Antibes and the even more famous Boulevard de la Croisette).

It has “Position, Position, Position” in the heart of the Golden Square which is the epicentre of the “Banane” – home to the most sought after real estate in Cannes and therefore along with the Champs Élysées, in the whole of France.

The price of this apartment is exceptional – so please STOP!
Have a closer look at this option – it has a great deal going for it whatever your personal objective, but as an investment property, and for rental return it is top property.

The apartment is in perfect condition, economically furnished for rentals, but that can and undoubtedly will change. The living room is bright with lovely big windows opening onto a spacious terrace which currently has two sitting areas on it.

The kitchen is open plan, with granite surfaces and a very useful breakfast bar, and of course is fully equipped. The wide staircase to the top floor ends in a landing with two comfortably large bedrooms off it. One bedroom has a bathroom en-suite and the other a shower. Both have a toilet, and each has a door leading to a small balcony overlooking the rooftops and the hills of Cannes.

The architect who designed this villa, and who oversaw its construction left nothing to chance. Finishes are to highest specifications and nothing has been forgotten. Built on two levels it has 8 bedrooms and bathrooms, dressing rooms, and one complete separate apartment.

The sumptuous terraces and heated swimming pool, and even a heliport make this a villa that needs to be seen! Further details are available on request.

• 1220m² of land.
• Construction 2010.
• Style “bastide”.
• Reduced transfer charges.
• Orientation east and west.
• View clear greenery.
• 100m² living room.
• Equipped spacious kitchen.
• Dining room.
• Parking for numerous cars.

This magnificent brand new villa in the traditional “bastide” or French country house style is on the edge of La Californie and Montfleury suburbs, in the foothills of Cannes. It’s very spacious 400m² of habitable space on 1200m² of land with a west facing pool is a rare find today, especially just a few minutes from the centre of Cannes.

It is composed of the vast living room on the ground floor with a dining room and a separate and beautifully equipped modern kitchen, with a very large pantry or store room. On the first floor are three bedrooms, two of them “master” bedrooms, and the third operating as an office. All have bathrooms en-suite and the two master bedrooms each open onto a garden because the ground slopes upwards to allow it. On the top floor is the final magnificent bedroom with its bathroom and a private terrace or solarium.

The villa has been finished to very high specifications, as one would expect situated as it is on a rare piece of prime land in the suburb of La Californie and Montfleury.

Being new (less than five years) it is subject to reduced notary fees and transfer costs, bringing down the usual 7% to 2.5%.

• 1000m² of land.
• Orientation south and east.
• Views clear – garden.
• Huge living room,
• Equipped kitchen.
• Laundry.
• Garage & car shelter.

This beautiful villa in the heart of the most exclusive suburb of Basse Californie is less than five minutes to the centre of Cannes, and less than five minutes to the chic beaches of La Croisette! And yet it is quiet and tucked away in a leafy nook out of sight and out of earshot – it is a very easy walk to shops not 100m away, and a very easy stroll down to the Croisette and the beaches or the Rue d’Antibes for a little shopping. Incredible position!

The spacious 350m² is oriented full south with a beautifully landscaped garden of 1000m², a lovely swimming pool, and a pool house.

The villa itself comprises an entrance hall with a vast living room with fire place and equipped kitchen, and four bedrooms all with bathrooms en-suite. On the ground floor there is also a sports room, laundry and various outbuildings.

• 8200m² of land.
• Orientation south.
• Construction 1981.
• Hills falling to a small sea view.
• 3 Bedrooms (4th possible)
• 3 Bathrooms (one a Jacuzzi)
• Gorgeous terrace with Barbecue.
• Pool house.
• Garden shed.
• Caretakers’premises.
• 2 Car garage.

This charming villa is just 850m from the 11th century mediaeval village of La Garde-Freinet, itself established on the 9th century site of the Moorish village of Fraxinet. It lies in the heart of the department of the Var, less than an hour from St Tropez (the seller says he knows the route and it takes him 15 minutes!) The countryside is typified by wonderful winding roads and breathtaking views, traditional stone houses and villages, and forests of cork, oak and chestnuts, and of course the vineyards which produce the famous wines of the Var region specially its rosé). The village itself has retained its mediaeval character; its field stone architecture and it boasts some fine restaurants and galleries around the central square.

The villa sits backed up against the rocky hillside of the Massif des Maures, and looks out towards the bay of St Tropez. The hills fall away, rolling endlessly with no sign of human habitation between you and the sea! It is charming, warm and spacious with the ground floor comprised of a huge living area, high ceilings and wooden beams, a lovely fireplace and large equipped country kitchen. On the mezzanine level is an office or work area which could be a fourth bedroom, and on the final level three bedrooms and three bathrooms. The master bedroom with its Jacuzzi style bath is huge, and has the most spectacular views.

The paved terraces at the front and side of the house have been developed to be the most relaxing and comfortable spaces, with pergolas covered in vines, shade and dappled sunshine, soothing views, and outside eating areas for a couple or small parties, to very large entertainments and gatherings. The garden and lawns are very well established and maintained, the sunny swimming pool terrace being the focus, with a very inviting barbecue area.

There are two garages, caretakers’ quarters (if required) and various sheds and storage areas.

http://www.lagardefreinet-tourisme.com/Welcome/index.htm
http://en.wikipedia.org/wiki/La_Garde-Freinet

• 1630m² of land.
• Orientation south and west.
• Construction 1969.
• 4 Bedrooms.
• 3 Bathrooms.
• Separate studio apartment.
• View open to the village.
• Pool house.
• Utility room.
• Outdoor kitchen / barbecue.

The secluded gated domain of Sainte Basile in Mougins is popular for its quiet and for its position which is very close to all the amenities Mougins has to offer. It is also close to the forested walks and rides in the extensive natural park which is so used by people from all around the area for all forms of recreation, and close to the motorway and Nice airport. (It is NOT within sight or hearing of the motorway).

The villa was built in “Californian” style – light, open and with the emphasis on outdoor living. It comprises a huge living room with a fireplace and fully equipped open plan kitchen, and three bedrooms and three bathrooms on the main floor.

On the lower floor at swimming pool level is a separate studio apartment, storage room, equipped outside kitchen and barbecue, very extensive covered entertainment areas and a jacuzzi.

The garden is spacious and well developed and treed, and parking is abundant; the gate is electric and the property secure. A final important point is that there is existing permission to extend if required because the current structure falls short of that allowed.

• Small balcony.
• 2nd and 3rd floor of 3.
• Orientation south.
• View – magnificent.
• 2 en-suite bathrooms.
• Guest toilet.
• Open kitchen – sea view.

This is one of those apartments that words cannot adequately describe and the pictures don’t begin to do it justice! It has to be seen.

Situated on the front right opposite the very charming Quai St. Pierre in Golfe Juan, and occupying the top two floors of a small building, the apartment has been beautifully and lovingly renovated. It is quite delightful!

The near-views from the wide open living room and kitchen are across the Quai with its restaurants and fishing craft, and slightly left of centre the view is across Port Camille Rayon home to many super yachts. Further away one gazes across the Bay of Cannes. As ones vision moves from the hills of Super Cannes and Vallauris to the right, across the Bay to Cannes and the peninsula of Palm Beach with the Esterel Hills far in the background, the Iles de Lerins closer in, the open sea beyond, and finally on the left, Juan les Pins and the Cap d’Antibes. What a world-class panorama across 180°!

The apartment itself consists of a wide and light living room with lovely large windows which open onto a narrow balcony, an open kitchen with a spectacular view, modern and fully equipped, and a guest toilet on the 2nd floor. On the third floor are two bedrooms with round porthole windows as well as a skylight each in the sloping roof. Each bedroom has a very attractive bathroom, (one of them is actually a shower room).

Everything in this apartment is of the highest quality – it is quite unique.

• Two / three bedroom townhouse.
• South facing terrace.
• Construction 1880 – 1900.
• Orientation south.
• Views of Le Cannet.
• Street level garage & storage.
• Ground floor living room & kitchen.
• 1st floor two bedrooms and bathroom.
• Top floor studio & terrace.

This is a charming old home right in the heart of Old Town Le Cannet, authentically French with all of its elegance lovingly and carefully restored. It is a quaint and picturesque piece of history – and very low on maintenance. Everything has been renewed, from the plumbing to the electrics and a complete new roof, and we are left with unspoilt Provencal charm entirely intact!

As it is built on a hillside there is a street level, and a ground level. From the street one enters a garage which is quite tricky to get into because the streets are typically narrow! However the garage is spacious. Also on this level is a room which is useful as a storage area, or perhaps it could be used as as a laundry to take that aspect out of the house. There is a spiral staircase leading up to the main entrance hall of the house.

The front door to the house leads to the living room level, above the garage. It is a charming entrance up some old stone steps from a gardened Mediterranean courtyard full of ancient vines. One enters the hall and the large light and bright living and dining room with a fireplace (although the whole building is centrally heated). The kitchen is spacious and fully equipped, and there is a guest toilet on this floor.

Up the charming wooden staircase to the first floor where there are two gorgeous and spacious bedrooms and a bathroom. The main bedroom looks out to Le Cannet and has a recess or study (as it currently is) which could as easily be a dressing room. The second bedroom overlooks the courtyard, its window framed in vines!

The last floor is a room currently used as an artist’s studio which could be a third bedroom or a living and entertaining area because it opens onto a lovely south facing terrace.

The house has been loved, and is still loved. It is full of charm and so is the warm heart of Vieux Le Cannet!

• 13m² of west facing terrace.
• 2nd floor of 5.
• Orientation east and west.
• Large living / dining room.
• Large bedroom with dressing room.
• Bathroom and separate toilet.
• Separate kitchen.
• Garage in the basement.
• Cellar.

This apartment is in the heart of Palm Beach a hundred metres from the famous and lively village atmosphere of the Place de l’Etang. It is in an excellent building with a guardian, and traverses the 2nd floor with the bedroom and kitchen on the eastern side and the living room on the west.

On the eastern side both the bedroom and kitchen open via glass doors to a wide and attractive balcony overlooking gardens. Beyond the gardens is another low building which overlooks the beach – so it does block the view of the sea, but is not at all unpleasant to look at being made up of a little row of small private houses dating back to the turn of the 20th century. The bedroom leads into a dressing room and a very attractive bathroom. The kitchen is sizeable, modern and very well equipped.

From the entrance hall of the apartment the living and dining room extend to the very attractive west facing balcony which is quite big enough for a comfortable table and six chairs. The living room is large, light and like the rest of the apartment is clean, in perfect repair and has a very comfortable and welcoming feel. The bedroom and living room are air-conditioned.

Of course the beaches, shops and all facilities including the Place de l’Etang are just metres away, and the apartment building has its own access direct to the beach.

There is a garage in the basement, and a cellar.

• 26m² of terrace.
• 10m² loggia.
• 6th floor of 6.
• Orientation east, south, west.
• View unobstructed to the sea.
• Construction 1975
• Large living room and kitchen.
• Needs complete renovation.
• Very large garage

Position and view – in a very high quality building. That is what you are buying here, together with the opportunity to create something extraordinary for yourself, and according to your own tastes and wishes.

It is important to stress the quality of this apartment block which is very close to Cannes – a very easy walk – with lovely gardens and a swimming pool for residents, and a guardian of course.

The building is on a steep slope at the base of Basse Californie, one of the most sought after suburbs for its ease of access and proximity to Cannes, and yet it is just in the hills, a little closer to Cannes than its sister suburb La Californie. The top and 6th floor of this building is way above any other building in the area, aided by the fact that it is built high on the slope. It is a beautiful situation.

If this apartment is renovated to a high standard it falls well within the area and quality of residence which can earn very good rental returns from discerning top management attending the many conferences Cannes plays host to. In this regard I refer you to an article by Parmy Olson of Forbes Magazine called Live and Let High. In it she talks of the rental returns from top quality properties in Cannes that can provide the owners with a second home and immense pleasure while earning them significant income too.

I hesitated to put this property in the “Platinum” category only because there is much work to do (and enjoyment to be had) in renovating it to its full potential. Someone will do this, and it will be fabulous – “Double Platinum”. Of that there is no doubt because properties like this in Cannes are sought after.
Click here for more about Basse Californie
Click here to read about La Californie

• 135m² of roof terrace.
• Top floor of 8.
• Construction 1985.
• Panoramic views 360°.
• Glorious living room.
• Jacuzzi.
• Two garages.

This is a truly gorgeous apartment occupying the top and 8th floor of a fairly recent building for the area which is otherwise largely “Old French” in character. As such, and occupying the end of a quiet cul-de-sac on a hill as it does, it has the most fabulous all-round view, including an unobstructed view over Cannes to the sea.

With its incredible 135m² of south facing terrace (which includes a Jacuzzi) this is an exceptional apartment. The vast living room opens onto it on two sides. There are three bedrooms, two bathrooms and a guest toilet, but as the current owners have it, the third bedroom is used as an office / study. The whole apartment has been renovated to luxury standards, and the kitchen is beautiful and of course fully equipped.

What is even more interesting is that whereas apartments of this size and standing are often slightly removed from and in the hills overlooking Cannes, this apartment is very close to the centre – close enough to host executives and delegates to the conferences. This quality of accommodation close to the centre and within easy walking distance of the Palais des Festivals is much in demand because there is so little of it. With this in mind I refer you to the article Live and Let High by Parmy Olson of Forbes Magazine.

Click here for more about Petit Juas

To be sold as a unit or separately as two apartments

Ground floor – One bedroom apartment.

• 65m² of internal living space
• Ground floor
• Orientation south & east
• Double living room
• Open plan equipped kitchen
• 1 Bedroom with walk in closet
• Ensuite bath room
• Shower room and toilet
• Ample cupboards and storage
• Air-conditioned
• Asking price 320 000€

First floor – Two bedroom apartment.

• 75m² of internal living space
• 1st & top floor
• Orientation south & east
• Living room
• Open plan equipped kitchen
• 2 Bedrooms
• En suite bath room
• Shower room and toilet
• Ample cupboards and storage
• Air conditioned
• Asking price 373 000€

Together – 693 000€

This is an early 20th century house in a quiet street in Palm Beach, divided into two completely separate apartments. It is just 150m from the Port Moure Rouge on the peninsula’s eastern shore, and therefore just that far from the beaches and restaurants of this lovely shoreline. The position is marvellous.

There is very little land or garden, although there is a pretty surround of plants. However the ground floor apartment has a terrace area for sitting out and the top floor apartment has a south facing terrace.

The ground floor apartment has one bedroom but two bathrooms, because it did have two bedrooms. One was done away with in order to double the size of the living area. It can easily be restored to its original two bedroom state. The kitchen is open plan onto the living room. It has been lived in permanently, and the style of it is not to everyone’s liking so it offers the possibility of a renovation and modernisation if desired.

The first floor apartment has two bedrooms and two bathrooms and a lovely large living room opening onto the south facing terrace with a view across nearby buildings, and a very small glimpse of the sea and port just 150m away. The equipped kitchen is open plan to the living room, and the apartment also has access to the attic which is a useful storage area and could even be used as extra sleeping accommodation. As with the ground floor apartment, a renovation and modernisation is an option and a choice rather than a necessity.

This house presents a perfect opportunity for a shared investment between family or friends – not that easy to find. Each apartment is however also offered separately.

• 70m² of terraces.
• 170m² of private garden.
• Orientation N/S/E/W (360°)
• Open views – La Croix des Gardes
• Small view of the sea.
• Garden level of 3 floors.
• Construction 2005.
• Large living room.
• Open plan kitchen.
• Separate guest toilet.
• Large garage.

This is a lovely apartment that really should be seen!

Set in the leafy foothills of La Croix des Gardes just a kilometre west of Cannes, in a recent well constructed building (2005) it has very easy access to shops and facilities, to the bus routes, to the endless and popular beaches and amenities of the Plages du Midi, and of course to the centre of Cannes just five minutes away.

Equally close but in the opposite direction to Cannes are La Napoule with its hotels, casinos, and marinas, and Mandelieu with its lovely 18 hole “Old Golf Course” established in 1891 by Duke Mickael of Russia (it is the oldest course on the Riviera and one of the oldest in France, modelled originally on St Andrews).

A little beyond Mandelieu at the foot of the famous Red Hills of the Esterel is charming Theoule-sur-Mer with its secluded beaches and waterside castle and museum. La Croix des Gardes is in the heart of everything the Riviera has to offer, but is itself quiet and secluded in its leafy surrounds.

The apartment is large at 107m² but has the added benefit of a huge terrace and a private garden. The grounds are immaculate and there is a gorgeous pool for residents. The view from the apartment is open across the rooftops of La Croix des Gardes with a small view of the sea.

The living room faces south and looks straight onto the main terrace. There are three bedrooms each with a bathroom (one of them is a shower) and toilet, and there is a guest toilet. The open plan kitchen is spacious, modern and fully equipped. All rooms are air-conditioned and double glazed.

Part of the terrace lends itself to being enclosed and there are no rules to prevent it, so the option exists to create another room if desired. There is a large garage and ample secure guest parking.

• 18m² of balcony.
• Construction 1990.
• Orientation south west.
• 1st floor of 4.
• Garage.
• Cellar.

This apartment is in a quality building in a quiet section of Palm Beach just 100m from the Port Moure Rouge on Palm Beach’s eastern shore. It is therefore just a stone’s throw from the beaches of Gazagnaire which form the eastern bank of the peninsula and run all the way to the point, the restaurants and facilities that these beaches offer, and the shopping village of Sablons at the heart of Palm Beach.

The view from the terrace is across gardens with neighbouring apartment buildings set back.

The apartment traverses the building with the living room opening onto the spacious balcony and overlooking the gardens. The bedroom wing which is separate from the living area and equipped kitchen opens onto its own wide balcony looking north. There are ample cupboards in the apartment, and one complete bathroom and toilet, and another shower with toilet.

There is a garage in the basement, and a cellar – both useful and valuable.

What are all these Conferences?

There are many, from dental and medical conferences, to gaming, magicians’ and circus gatherings, but some of the bigger ones are:

MIPCOM: The World’s Audiovisual Content Market
Month: October
Duration: 5 days
No of attendees: 11 000 from 522 companies representing over 95 countries.
MIPCOM is a TV programme market, where mobile networks, character licensors, merchandisers and advertising companies, producers and distributors build alliances for the future; existing producers find new sources of revenue.

Tax Free World Exhibition:
Month: October
Duration: 5 days
No of attendees: 5289 people from 2638 companies.
TFWA World Exhibition brings together the industry’s most prestigious luxury brands and attracts thousands of key buyers, airport authorities, agents, distributors and journalists from around the world. The exhibition is the industry’s key event for recognising new trends & acquiring a global view of the international market.

MAPIC: The International Market for Retail Real Estate
Month: November
Duration: 3 days
Number of delegates: 6 458 delegates from over 55 countries.
MAPIC is the leading market for the expanding industry of international retail real estate. It attracts all the key players, creating a unique community in one place at one time. MAPIC provides an exclusive platform for companies to showcase new concepts and developments.

International Luxury Travel Market (ILTM)
Month: December
Duration: 3 days
Number of delegates: 52 countries.
The Luxury Travel Market (ILTM) is the only global trade event dedicated to enabling specialist luxury travel buyers from the world’s top 52 outbound countries to meet with the worlds leading luxury travel suppliers. Specialists in the luxury travel market have very specific needs which cannot be satisfied by their mainstream counterparts. It is therefore a trade medium that is focused exclusively on this sector.

MIDEM: The World’s Biggest Music Market
Month: January
Duration: 5 days
Number of delegates: 10 000.
MIDEM’s music conference brings the heart of this ever-evolving industry to Cannes. It enables people involved in the music industry to discover new sounds and services, explore business opportunities, learn about tomorrow’s industry, make deals, enjoy live music…. and party!

MIPIM: The World’s Property Market
Month: March
Duration: 5 days
No of attendees: 18 000 from 2051 companies.
MIPIM is The World’s Property Market where advisors, developers, regional authorities, investors and corporate end-users gather information about new building projects and initiate deals and partnerships.

MIPDOC: The International Showcase for Documentary Screenings
Month: March/ April
Duration: 2 days
Number of participants: 1000 participants from 386 companies & 61 countries.
A relaxed two-day event in the lead-up to MIPTV

MIPTV featuring MILIA: The World’s Audiovisual Content Market
Month: April
Duration: 5 days
No of delegates: 12 000 delegates from 99 countries.
The World’s Audiovisual and Digital Content Market attracts all the global movers and shakers in the world of television. This annual event is the context for negotiating programme rights, co-productions and partnerships

Cannes Film Festival
Month: May
Duration: 10 days
No of attendees: 30 000.
The Cannes Film Festival is the world’s most prestigious forum for the exposition of all styles, schools and genres of film. As well as being the most special place for film industry professionals to meet, the festival is especially concerned with recognising the talents of the artists that contribute to the growth of the medium.

Cannes Lions Advertising Festival
Month: June
Duration: 7 days
No of attendees: 75 countries.
The Cannes Lions International Advertising Festival is the only annual gathering of the world’s advertising, creative, direct marketing, interactive, film, radio, media, sales promotion and marketing communities.

Cannes Boat Show
Month: September
Duration: 5 days
Size: 50 000 visitors, 650 Yachts!
For exhibitors from the luxury yachting and pleasure boating community this is the industry’s premier event. There are at least 50,000 boating enthusiasts that visit the show and one can expect to see 450 boats in the water – including 360 motor boats and 90 sailing boats – and 200 boats on land.

Extracts from an article by Parmy Olson who is the London Bureau Chief of Forbes Magazine.

Plenty of people like the idea of owning a second home in Europe for regular, cultured vacations. Many stop fantasizing once they realize they’ll also have a second mortgage on their hands. But what if that second property could make them money?

Canny investors can put a second property to work on several conditions: They’re willing to rent it out to short-term tenants for the times they aren’t there, they can afford property in the $1 to $2 million range (€730,000 to €1.5 million) and, crucially, if they buy in the right locations.

Prime real estate broker Debbie Dove says there are two European hotspots offering short-term rental yields upwards of 5%: London and Cannes. Each city requires a different approach.

Short-Term View

London is a transient rental market, with thousands of people passing through every year on business trips that can last for months on end. It’s these folks, the ones who’d rather avoid the sky-high rates offered by London’s hotels, who make good potential renters throughout the year.

There’s no peak season for short-term letting in London, so a buyer has the flexibility to decide when they want to stay for their own vacation.

Rents in Cannes soar during the Monaco Grand Prix

Ms. Dove, who has built up an £80 million fortune and a property empire that includes the former homes of Robert Louis Stevenson and Charles Dickens, says the idea of short-term buy-to-let in what real estate agents call “prime London” is already popular with Middle Eastern property buyers.

But there are caveats to London. Stamp duty on British real estate rose this April to 5% from 4%. Also, to capture juicy yields from short-term buy-to-let, buyers must fork out for the most top-notch property in some of the city’s most exclusive areas. Ms. Dove typically brokers houses in Mayfair, Hampstead and Knightsbridge, which play host to some of the most expensive properties in Europe, much less the world. “There’s no demand in London for anything that’s not top notch,” she says. “Everyone is looking for quality.”

Yields? Cannes Can

Ms. Dove’s second recommended hotspot is Cannes in Southern France. The area is a little more complicated for letting, but it offers sunny local weather for regular vacations while a stream of glittery events through the year make for a transient market that’s perfect for short-term letting.

Properties in and around Cannes can fetch eye-wateringly high rental income during the annual Cannes Film Festival, the Monaco Grand Prix and during the regular conferences like property trade fair MIPIM or MIDEM, the world’s largest music industry trade fair.

A three-bedroom apartment on the highly desirable Boulevard Croisette will set you back an initial £1.5 million, but bring in £7,000 a week in rent during the three weeks of the Cannes Film Festival, says Ms. Dove. The same goes for the Monaco Grand Prix, which takes place in Monaco but sees many of its participants stay in Cannes. The trick to achieving rental yields of 5% in Cannes is timing the letting of a property around the many events that take place nearby.

The prime period is the summer months of May, June, July and August, meaning you could leave the property vacant for your own holiday there in September, and rent it out again for the remaining months of the year at a lower rate. Winter months will achieve 50% of the very high rental rates of the summer. But even a year that’s spotty with high yields is better than letting on a 12-month contract, says Ms. Dove.

Property investors will find it almost impossible to find similarly-high yields from other parts of France where buyers might be tempted by the prospect of a cosy chateau or picturesque vineyard. The market for short-term letting of these properties is almost non-existent. “People take root in these properties,” Ms. Dove explains. “It’s a totally different market.”

Then there’s the market for ski properties, including chalets and ski apartments in places like Switzerland. The problem here is that achieving any sort of decent yield requires properties with purchase prices in the €20 million range, well beyond the budgets of most property investors. “For the short-term letting and good yields, its prime London and Cannes,” says Ms. Dove. “It’s as limited as that.”

The number of properties for sale on the Cote d’Azur priced over €1m decreased by 8.89% in October. It is expected that the sale of luxury properties will continue to increase however as prices are coming down.

> The average price for a luxury property has dropped by 3.76% due to the euro-crises and new tax laws

> Property sales have increased by as much as 8.89% since September, mainly due to property price reductions

> Quality property in prime location is still in strong demand

• Single storey – built 1975.
• Orientation full south and north.
• View – garden.
• Large living room.
• Open plan kitchen.
• Huge cellar / downstairs bedroom.
• Parking.

This apartment or small villa is “atypical”. It is a single story beach-house in a short row (maybe 8 units) of similar beach houses with another row in front of it obscuring the view to the sea and the beach. However access to the beach is through the garden gate and 30m down a path directly to the beach without crossing any road.

The small development is well secured and entry is to residents only. It lies between the coastal road and the sea. Villenueve-Loubet lies between Antibes and Cagnes-sur-Mer, then Nice, so it is very conveniently placed 10 minutes from the airport at Nice, and 10 minutes from Antibes and Juan-les-Pins to the west. Cannes is another 15 minutes west of Antibes. It is a magnificent coastline, but inland it is equally exceptional, with the mediaeval towns of Haut-de-Cagnes, St Paul and Vence all within 15 minutes.

The feature of Villeneuve-Loubet that everyone who has ever thought to buy property in the south of France, or gazed out of the window of the plane on descending to Nice airport will have noted is the semicircular development of 3 massive triangular apartment blocks built around Baie-des-Anges Marina in the 1970’s. It is a development so unlike anything you’ll see anywhere else on the French Riviera, and so huge that it is still controversial today, but love it or hate it Baie-des-Anges (Bay of Angels) is a major landmark.

The beach house is less than 500m east of the Baie-des-Anges development and a well tended wide and scenic pedestrian walkway runs all along the front to the Marina, and eastwards too, through an estuary to Cagnes-sur-Mer. The beaches along this stretch are part sand and part pebble, and the extraordinary clarity, and the colours of the water over the pebble seabed are what give the Cote d’Azur its name! They are spectacular in the sunlight.

The cottage itself, when approached from the beach, starts with a very private garden and terrace, leading into a large and light living room with an open plan kitchen (which in our view could do with a bit of improvement). Next come the bathroom which is perfect, and two small bedrooms leading off a long passage which terminates at the front door. The door opens onto the parking lot with private parking conveniently next to the door. In the living room, and at back close to the kitchen, is a circular staircase leading to a room below which is very well lit, clean and white, air conditioned and perfectly dry, and twice the size of the bedrooms! It is most unusual, but greatly adds to the space available whether one uses it as a bedroom, a dormitory, a games and TV room, or for storage.

Cannes loves putting on a show. The French Riviera resort does exactly that every year, with what has become, since 1946, the world’s most prestigious film festival. So hosting the latest G20 summit is the sort of big international event the city can take in its stride.

Of course some of its 80,000 or so local residents will inevitably complain of the disruption the G20 will provoke, with all its security measures and motorcades of heads of states and their entourages.

After all, this is a time of year when the city, with its promenade (the “Croisette”), its grand hotels and casino, its marina stuffed with fancy yachts, its markets and smart shops, becomes rather pleasantly quiet yet still sunny after the hustle and bustle of the summer season.

But then Cannes is no longer the exclusive winter resort of the old British aristocracy that flocked to the Riviera after Henry Brougham, the lord chancellor of Great Britain, discovered this sleepy Mediterranean fishing village in the 1860s and put it firmly on the high society map.

Later, American literati, including the writer Scott Fitzgerald, made Cannes and its immediate surroundings even more fashionable and famous.

These days, the city relies on its film festival, boat show and other big events and conventions to keep its economy, which relies mainly on tourism, turning all year.

The tourist season has now shifted from winter to summer, but Cannes’ good transport facilities – the busy international airport at Nice is close by and high speed TGV trains serve its station – have made it an attractive convention centre competing with its much bigger neighbour Nice and, a little further down the coast, Monaco.

The seaside city also serves a high-technology cluster in the neighbourhood, even though the Sophia Antipolis technopolis has never really lived up to its early ambitions of becoming a French Silicon Valley.

But Cannes can boast a role in the European space industry with the headquarters of the Franco-Italian Thales Alenia space venture a few miles away at Mandelieu. It is one of Europe’s leading satellite manufacturers.

Cannes’ balmy climate – tender indeed are its nights, as Scott Fitzgerald noted – and privileged position have also made it increasingly popular with French and European retirees, helping to prop up local property prices even during the current economic downturn.

The Carlton hotel is still there, with its twin domes representing the breasts of the belle époque courtesan Caroline “la belle” Otero, and so are the other Croisette grand watering holes – the Martinez, the Majestic and the Grand Hotel, and at the tip of the Cap d’Antibes Eden Roc.

These hotels no doubt will be teeming with heads of state, their mandarins, central bankers, ministers, security guards and journalists during the summit.

It is undoubtedly occasions like this that help maintain the profile of Cannes and the Riviera at large on the international stage. It also seems appropriate that President Nicolas Sarkozy chose Cannes to host the present G20 meeting.

It is bound to provide as much drama and suspense as the Cannes Film Festival itself but without, some may regret, quite the same colourful and frivolous cocktail of glamour, gawpers, baubles, bangles and beads. Yet you never know.

Holidays and the sheer pleasure of owning a villa on the Cote d’Azur for example can be combined with a healthy income stream even in difficult financial times.

We are unlikely to see the back of this recession for a few years but we who are personally invested in both property and shares, and at the risk of annoying those readers who are heavily or professionally involved in the shares market, my own experience is that top quality property has held its value considerably better than shares have.

This may be because bricks and mortar are more tangible than shares, or because our property is in a prime area and very much in demand, or because companies can stop paying dividends while prime property will continue to achieve a rental return, albeit on a reduced basis in tough times.

Most likely it’s a combination of all three, but for me investment in property in the south of France continues to be the wisest choice.

This from a recent article I read on the South African based “Moneyweb” site:

“Generally, however, property does attract the investor anxious to avoid any significant risk and possibly lacking the resources to go it alone without gearing. By contrast, shares can be right for the person who studies the Securities Exchange daily and is really well informed on the likely future performance of every share he buys. This can be a very time-consuming operation and therefore again not suited to the amateur or inexperienced investor who is probably best advised to stick to property.”

My feeling entirely after what has happened in the last few years.

Cannes has been chosen to host the 6th annual G20 Summit during the week of 3rd/4th of November. The Palais des Festivals will host the heads of government of the 19 core members of the G20 major economies and the European Union which will be represented by its two governing bodies, the European Council and the European Commission.

In all they represent 85% of the world’s gross national product, 80% of world trade and two thirds of the world’s population.

Also attending in their official capacities will be a number of invited states, and international organisations such as the European Central Bank, the IMF, the African Union, the United Nations, the World Bank, ASEAN and many others.

Here’s a part of their agenda for you to think about – it is no small task ahead!

• Coordinating economic policies and reducing global macroeconomic imbalances.
• Strengthening financial regulation.
• Reforming the International Monetary System.
• Combating commodity price volatility.
• Improving global governance.
• Working on behalf of development.

Comment posted on 1st November 2011.

With the G20 about to kick off in Cannes we are in almost complete lockdown for a few days. This morning Vicky and I tried to run along the Croisette but the whole centre of Cannes is barricaded off so we were turned around.

There are road closures, police and army parked up every side street ready to react if required, and the helicopter traffic is constant. We have never known it like this in our quiet and peaceful Cannes – but given the guest list (25 heads of state and their huge entourages) it’s not surprising.

We just hope that all this preventative security is just that, and that the G20 turns out to be positive, and useful to us all. They certainly tackle the biggest issues, and need to.
Watch this space….

Herewith extracts from their 30th year of producing their authoritative index:
“Countries are ranked in 10 categories – Cost of Living, Culture, Leisure, Economy, Environment, Freedom, Health, Infrastructure, Safety and Risk, and Climate.

As usual, the rankings have provoked equal shock and happiness from different quarters – Brits seem exceptionally upset, although not surprised, that their ranking has dropped below that of the Czech Republic.”

In the 2010 Quality of Life Index, 194 Countries were Ranked and Rated to Reveal the Best Places to Live.
“Every January, we rank and rate 194 countries to come up with our list of the places that offer you the best quality of life. This isn’t about best value, necessarily. It’s about the places in the world where the living is, simply put, great.

For the fifth year running, France takes first in our annual Quality of Life Index. No surprise. Its tiresome bureaucracy is outweighed by an unsurpassable quality of life, including the world’s best health care.

France always nets high scores in most categories. But you don’t need number-crunchers to tell you its bon vivant lifestyle is special. Step off a plane and you’ll experience it first-hand.”

What it says quite clearly is that investment property in Cannes is some of the most sought after property in the world and a very safe investment in a world where we all know that, love it or hate it, “the rich get richer and the poor get poorer”. We know that Cannes and Saint Jean Cap Ferrat and other key enclaves on the French Riviera did not feel the effects of the recession as the rest of the world did. Because the wealthy are cushioned from many of the ill effects the markets quietened but hardly dipped. The same we know to be true of other destinations on the list below:

1. Monaco
2. London
3. Saint Jean Cap Ferrat
4. St Tropez
5. Paris
6. Courcheval
7. Cannes
8. Tokyo
9. Hong Kong
10. Singapore
11. Cyprus
12. Sardinia
13. Guernsey
14. Geneva
15. Aspen
16. Moscow
17. New York
18. Cortina (Italy)
19. Mosquito Island (Caribbean)
20. Meribel

Q.
Should I buy property in the South of France in my own name, in the name of my offshore trust, or should I create an SCI?

A.
It was bad before but under new legislation (August 2011) it just got worse for trusts in France if the constituents or beneficiaries are French resident, or if they own any asset in France.

Constituents or beneficiaries will be taxed under common law.
If the constituent dies and the beneficiaries are not known (or remain anonymous) then the estate will still be taxed at 60%.

After death the beneficiaries automatically become the ‘new constituents’ of the balance of the estate after taxes, and the same law applies.
Therefore it perpetuates itself down the generations.

The problem is that Trusts are not recognised under French law, being regarded as a foreign juridical creation specifically for the purpose of placing assets under an administrator in the event of the constituent’s death, in the interests of one or more beneficiaries, and for the realisation of the single objective – tax avoidance.

So it’s a very bad idea to transfer property in France into a trust, or to buy property in the name of a trust. Period.

Q.
But there’s an apartment for sale in Cannes at the right price, in the right location, what should I do?

A.
The SCI is another story, and used properly it is the perfect vehicle for property ownership in France including shares and investments. It can hold all classes of assets under the same conditions.

• One is able to dilute the ownership by allocating shares in the SCI amongst family or other interested parties / partners.
• The constituents of an SCI need only own a very small percentage of the “nue propriete” or “bare ownership”, even as little as 1%.
• In a typical example parents might own 5% each and their three children own 30% each on the assumption that the parents are likely to pre-decease the children. (That is of course an individual choice and calculation.)
• If any one of the parents were to die taxes are calculated on their share of the “nue propriete”.
• In most cases their 5% wouldn’t even reach the threshold, so their assets would pass free to their children.
• After death the children are free to bring their children in to the SCI on the terms below.

Important point – it is not advised (although not illegal) to bring minors into an SCI if there is a loan – if the SCI owes money it might be deemed that the risk of leaving the children with debt is too great.

However if the SCI doesn’t owe money (or if the children are older) one can donate 156 000€ per parent, per child completely free of any tax. So each child can receive 312 000€ free, providing the parents are less than 61 years of age.

The calculation of the value of any property is done on a simple market valuation (by a registered estate agent).

The total cost of the exercise of bringing in the children might reach 5 000€ but may be less, and it is comprised of notary fees, transfer fees, registrations and some admin.

The parents are able to retain 100% of the usufruct of the SCI until death, so all decisions are theirs to make, and they have lifetime use of the properties, total jurisdiction over them, and the sole use of their fruits. i.e. they have 100% of the vote.

If there are any specific questions please ask – I will get answers from the advocate if I don’t know the answers myself.

French law distinguishes between two categories of “person”:
• Personnes physiques or “natural persons”
• Personnes morales or “juristic persons” (in English law). SCIs are regarded as personnes morales. They have a legal existence and can own assets. They have a name, and an address, and a function. They can make contracts and take legal action.

Real estate is not the only possible reason for setting up an SCI – it can also be used for holding “moveable property” such as valuable objects, a share portfolio, or shares in a holding company intended, for example, to make it easier to pass on a family business.

The most common form of SCI is the SCI de gestion bringing together (at least two) people and owning one or more properties.

The founders draw up a written contract or the articles, or governing rules of the proposed SCI – they are the statuts. This document sets out the purpose of the SCI, its name, its registered office, how long it is being set up for and the rules on how it will function.

The new SCI is required to register at the court registry (the greffe du tribunal), the registry of commerce, and with the tax authorities.

SCI’s are subject to the “tax translucency” regime (regime de translucidité fiscal) meaning partners must pay personal income tax on profits received from the SCI. SCI’s can however also be subject to corporation tax (impôt sur les societies) if they are involved in any activity seen by the tax authorities as commercial – furnished rentals qualify. This is a reason to incorporate usufructs into the articles of the SCI, and rentals would be made in the name of the usufructee and not the SCI, leaving the SCI without income.

Once the SCI exists it is necessary to hold minuted partners meetings and not to forget tax obligations, even if it is a nil return.

Deductible expenses include loan interest and setup fees, repair and modernisation costs, management costs, and land taxes (taxes foncières).

When an SCI sells a property the capital gain is worked out according to the real estate capital gains regime for private individuals.

Partners can leave the partnership by transferring (e.g. selling) their shares or, if they cannot find a buyer, by withdrawing.

An SCI can be wound up and, in the event, capital gain is calculated on the SCI’s assets in just the same way as in the event of a sale by the SCI of some of its real estate.

Couples married or not, benefit from creating an SCI.

An SCI can facilitate the lifetime passing on of one’s estate by gift or on death (gifts are not taken into account in tax calculations providing they have taken place at least six years before the giver dies). Setting up an SCI before such a gift can reduce the tax burden.

An SCI can make it easier to share out property among one’s children – it is easier to divide up shares than actual real estate.

Parent donors who often hold a small minority of the shares usually keep, in the form of a usufruct, use of the property until their death so as to retain their lifestyle and their means of existence, as well as decision making over important management and policy issues. The usufruct is extinguished without further taxation at the death of the holder.

Watch this space – we are all hoping the G20 meeting in Cannes in the first week of November passes off without violence. Preparations are well under way all over town and it promises to be an unsettled time of virtual lockdown for residents. We are all a bit anxious, and will be keeping as low a profile as possible while the bigwigs are in town.

1. Life in Cannes – One Woman’s Story.

By Mary Bakke
Azur Accom Interior Design

About four years ago, I decided to change my life, slow down and enjoy! Having come to France for many years for business, I decided that it would be the south of France. While I love the small villages, I do know that I can be easily bored, so I decided better to live in a city with charming villages surrounding it. Cannes met all my requirements which were moderate climate, a city with energy, security and a very relaxed, but interesting lifestyle.

After living in California for most of my adult life, I wanted a climate that was neither too cold, nor terribly hot. Cannes meets that expectation…The summer is lovely and everyone soaks in the sun and enjoys life at the beach and eating in beach side cafes. Winter has a chill in the air, but it is never that bone splintering cold that I remember as a child growing up in Boston. I have sat in outside cafes in the middle of winter and I have sipped a glass of champagne on the lovely Croissette New Years Day. I find Cannes equally as enjoyable Summer and Winter.

I like the energy of a large city, but the feeling of a village and this is not an easy balance to find. Cannes does have this balance….all the amenities of a large city, such as shopping, good transportation and cultural activities and I have never been bored.

It also offers the relaxed quality of life that one wants when moving to France.

As a woman living alone, security is a concern for me…..In Cannes, not only am I quite confident walking during the day, I also feel quite safe walking home from dinner with friends, at 2:00 in the morning.

There you have it, Cannes met all my “basic” requirements….……..now other “biggies” for me and which I have managed to also find here are: A coffee shop within 5 minutes from my apartment, a fresh open air market every day within walking distance, great cafes to sit for hours and read, or people watch, should I desire, and good food and wine. Really, what else does one need to truly enjoy life???

•

2. French Lending Policy and Interest Rates Update.

Uncertain markets such as we are experiencing worldwide tend to highlight the classes of asset investors are most likely to favour as safe havens. Gold prices have gone through the roof but investment in quality property has once again become more interesting, and prices have NOT gone through the roof.

Consequently investment property in the south of France and other top locations such as London and Paris continues to be popular among investors. It is absolutely the case that the French property market when compared to other markets around the world has performed consistently and well throughout the last few difficult years and the remains broadly positive. Property for sale in Cannes which is our own specialty continues to attract a great deal of attention and investor interest.

Banks continue to lend to foreign buyers albeit they are a little more careful in their due diligence before offering a loan than they used to be. Added to which there is competition to lend and interest rates are very competitive as a result, and have even fallen slightly.

The market is certainly slower than it was but property which is well priced is selling. It is without doubt a buyers’ market however, and we find that “offers” are the order of the day.

Sellers prepared to meet buyers at a lower than perceived market price are the ones who are making sales, and some potential buyers are losing out on keenly priced properties in a very favourable market.

Interest rates on a loan over 20 years are:
• Variable – about 3% and even a little less.
• Fixed – just under 4%
It is worth noting that variable loans today come with many attractive “extras” – to name a few:
• Interest rate fixed for the first 5 years.
• Fixed monthly repayments with variations in interest diminishing or extending the term of the loan. This is very useful for budgeting purposes of course.
• No early settlement penalties, or in some cases no early settlement penalty after 3 years (depending on the negotiation and depending on the bank).

•

3. Renovation Projects – A Few Pointers.

Over our 10 years in Cannes property sales we have done a few dozen, ranging from minor to total renovations from floor to ceiling.

Why would you consider doing it?
• If a property needs renovation it is often priced accordingly and value, sometimes great value can be added by doing the renovation.
• The need for renovation puts you in a very good negotiating position.
• The fact that the property has not been renovated probably means that the seller is short of funds, and needs to sell.
• If you are in control of the renovation and furnishing yourself you have the chance to express your own preferences in your new property. It is creative and satisfying.
• We are here and will oversee it for you if you wish us to.
• Mary Bakke (who wrote the article on “Life in Cannes” above) works with us as “Azur Accom Interior Design”. She is a talented and very experienced project manager and decorator and a great communicator with clients every step of the way if they are not able to be here. Have a look at the website:

http://www.azuraccominteriordesign.com/#!__portfolio

What is the cost of doing it?
Rule of thumb:
• Minor renovations can cost between 400€ – 800€ per m² of living space.
• Major renovations – 1100€ – 1500€ per m² depending on the quality of the finishes.

Here are some examples of total renovations we have done on investment property in the south of France over the last few years.
I have identified those that were done by Mary.
These are all available for rental, so please feel free to book!

Place Vauban. A deceased estate – a doctor’s home and not touched for 40 years. It was very old, much worn, and very dark, but it had potential, now realised.
Mary’s work:

http://www.azur-online.com/property_detail.php?pid=641

Mandariniers. Featured in the photos above.

http://www.azur-online.com/property_detail.php?pid=330&

Palais Napoleon. Was a 2-star rental unit in the centre of Cannes – nothing had ever been spent on it and it was very sad. Now it is a 5-star apartment just a stone’s throw from the Palais des Festivals, and one of the most popular apartments on the books.
Mary’s work:

http://www.azur-online.com/property_detail.php?pid=14&

Le Piree. This was a pig’s ear which became a silk purse. It is one of the most beautiful apartments in Palm Beach today.
Mary’s work:

http://www.azur-online.com/property_detail.php?pid=14&

Capri II. A very old, tired, disappointing apartment that has found new life.

http://www.azur-online.com/property_detail.php?pid=85&

Commodore Cape. A favourite little project. It was a large but unloved studio apartment that we converted into a light, bright and very popular one bedroom apartment.

http://www.azur-online.com/property_detail.php?pid=28

That’s enough for now!
Please take the time to look at these properties, because it’s most instructive for anyone wondering what renovation can involve and what sort of results one can expect.
There are others I could show you, but as a random sample just to show you what is possible, I hope you find it useful. In most cases we have “before” photos if you are interested – particularly of Mandariniers, Commodore Cape, and Place Vauban. Just ask and I’ll send them to you.

With kind regards,
Guy.

GOLDEN PROPERTIES August 2011.

All of the property for sale on the Cote d’Azur listed below is in ascending price order.

• The prices quoted are asking prices.
• The selection offered represents a few properties chosen from many, so if what you are looking for is not here we can tailor-make our search for you.

If you are interested to buy property in the south of France one day please follow the links. You will be able to read about the properties, look at a gallery of photos, and see the position of each property on a map.

•

Centre.
One bedroom apartment .
• 46m².
• West terrace.
• Good building.
• Parking.
• Asking 265 000€.
Details and photos to follow in the next Property Letter – coming soon.

•

Le Suquet – Old Town.
Two bedroom apartment.
Renovation project – renovation optional.
• 85m² of living space.
• 1st floor.
• Bourgeois building (1900).
• Aspect north and south.
• View of city.
• Asking price 420 000€.

Please click on the link for more photos and a map:
http://www.azur-accom.com/apartment/le-suquet-old-town/

This apartment is in Rue Felix Faure which is the western extension of the Rue d’Antibes, before you arrive at the Hotel de Ville or Town Hall, and opposite Place Brougham and the Marché aux Fleurs which becomes the flower, antiques and open air art market every weekend. This in turn overlooks the Old Port and the Palais des Festivals. It is, simply put, in a fantastic position for rentals, or to enjoy the warm heart of Cannes! And it is being offered a very attractive price!

The entrance to the charming period building is clean and as they say “correct”. Nothing fancy as none of these older buildings are, but well maintained, painted walls, and good stairwell. The apartment is on the 1st floor and works today as a rental apartment for delegates to the many conferences that Cannes hosts. It has two bedrooms and one bathroom, and the downside is that one has to walk through the first bedroom to get to the second, and back through the first bedroom again to get to the bathroom. Not ideal!

However, the apartment has not had much done to it for a long time and begs to be re-thought, and given a new life. Hence my proposal that it be renovated; with ample floor space which it has, a second bathroom is essential as is a separation of the first bedroom to give it privacy.
It is all possible. With a starting price so low, and if it can be lowered further (which would be my suggestion), you’re going to end up with a two bedroom and two bathroom fully renovated apartment in a great building and a fantastic position for well under 6000€ per m². It’s brilliant.

•

In the Hills overlooking Cannes.
Gorgeous one/two bedroom apartment for sale in Cannes – La Californie.
• 65m² of living space.
• 4m² balcony (can be enlarged)
• Constructed in 1879.
• 1st and top floor of 2.
• Aspect south.
• Two bedrooms and two bathrooms possible.
• Views unbroken across the Bay of Cannes from all rooms.
• Cellar and ample parking.
• Asking price – 424 000€.

Have a look at this option with a view to what you get and what you can still do.
I would not hesitate to make some simple changes to achieve something really special.

As it stands it has one bedroom and bathroom, but it has a dining room too, which invites changing into a second bedroom. There is already a guest toilet attached to the dining room, and ample space to install a shower. It is a simple conversion to a second ensuite bedroom unit.

The strongest point of all is the very beautiful and unimpeded view across lower Californie and Cannes to the sea, and the beautiful Esterel Hills in the west, home to the world’s most wonderful sunsets!
The weak point is that although the view is stupendous from all rooms, the balcony at 4m² is small. It is fine for a table and two chairs, but anything more than that – dinners for four or six outside for example, cannot be done. HOWEVER the balcony can be extended to the same dimension as the balcony on the floor below. I have looked at it very carefully, and have extended balconies before – it is not a difficult or expensive option. One would need to get agreement from the co-propriety for this extension, but we are assured that it would be forthcoming.

The apartment in question comprises the middle door and two open windows (one either side) and the small balcony on the top floor. From the front of the building it is on the 2nd floor of 3, but the main entrance to the building is from the car park at the back, and with the slope of the ground, this main entrance is on the middle level, so the apartment in question is on the 1st floor above entrance level.

Please click on the link for more photos and a map:
http://www.azur-accom.com/apartment/in-the-hills-overlooking-cannes/

The balcony on the floor below is wide and spacious and it is something that can be achieved on the top floor too.

There are a total of 7 apartments in the wonderful old building, in the west wing, in the east wing, directly below with the big balcony, and on the garden level. The gardens are lovely and the parking area for residents and visitors is spacious. The property is gated and there is a cellar in the basement.

This is a very attractive option for anyone wanting a home, second home, a comfortable bolt-hole in an exclusive suburb of Cannes, great security, marvellous views, and a perfect lock-up-and-go. It is not over-priced by any means, but obviously, it is also subject to offers.
It ticks many boxes!

The apartment below is also for sale. That is the apartment with the big balcony on the middle level when looking at the building from the front. The difference is that it is twice the size at 120m² and includes the west wing of the building. I do not yet have much information or photographs, but will get more information soon.
The asking price is 850 000€.

•

Le Cannet – Les Bréguières.
Very spacious two bedroom apartment for sale in Cannes – Le Cannet.

• 94m² of living space.
• Extensive of south facing terrace.
• 2nd floor.
• Aspect north and south.
• Views across Cannes to the sea, and north to the mountains.
• Two bedrooms and two bathrooms.
• Guest toilet.
• Garage in the basement.
• Cellar.
• Swimming pool and sauna.
• Excellent security.
• Asking price – 447 000€.

Please click on the link for more photos and a map:
http://www.azur-accom.com/featured/le-cannet-les-breguieres/

Whether you are looking for investment property in the south of France, a second home or a holiday retreat this apartment ticks so many boxes. It is high up because of the natural slope of the land and its views are wide and deep in all directions. It is spacious with a very large and open living room, lighted by huge glass doors facing south and a lovely picture window facing north, overlooking the swimming pool from a height, and the hills tumbling away across Mougins and beyond to the north.

It’s a very liberating feeling just being in this apartment, added to by the large bedrooms and bathrooms, and the south facing balcony that runs the length of the front – both bedrooms and the living room open directly onto it.

The residence is of high quality, secure and extremely well cared for with its gardens, and its lovely pool and sauna. It is a 20 minute ride down to the centre of Cannes and the beaches, but Le Cannet itself is a lovely historic village far older than Cannes because centuries ago people favoured habitation a little higher up the hillsides because it was cooler, and mosquitoes and malaria less of a menace. There are shops, galleries and classy out-of-the-way restaurants in the Old Town, and the famous gastronomic centre of Mougins is just a few minutes further up the hill.

The apartment comes with a cellar in the basement and a lockable garage.

The price is very good.

•

Inside the Banane, at its very heart, is the “Carré d’Or” or “Golden Square”. This is the few blocks between the Croisette and the Rue d’Antibes, and stretching from the Palais des Festivals to the Carlton Hotel. Here real estate is most sought after – it is the heart of the Banane.

Carré d’Or – Bivouac Napoleon.
Two bedroom attic apartment.
Renovation project – renovation optional.

• 70m² of official living space.
• 85m² total living space including areas under 1.8m in height.
• 4th floor of 4.
• Lift to the 2nd floor and good wide stairs to the 4th.
• Views across rooftops.
• Very spacious living room.
• Two small bedrooms.
• One bathroom and separate toilet.
• Asking price – 480 000€.

The position of this apartment in the heart of Cannes, in the “carré d’or”, is amazing. From the west windows one can see the Palais des Festivals less than 100m to the left and the Cathedral Notre Dame right ahead. Rue Bivouac Napoleon is one removed from the Croisette and has recently (this year) been entirely resurfaced and pedestrianised, and a 5-star hotel in a classic renovated building has just opened after years of work. This apartment is really in the heart of it all, and what a heart!

Please click on the link for more photos and a map:
http://www.azur-accom.com/apartment/carre-dor-bivouac-napoleon/

The period building from the early 20th century is in very good condition and the common areas are clean and fresh, the stairs perfect and floored in Old Provencal red hexagons or “tomettes” and the small lift goes as far as the 2nd floor.

The apartment is in the spacious attic or loft with original wooden beams stretching the width of the apartment. The main room is the living room which is huge, with a kitchen off it under the eaves – some of the space in the kitchen and the two bedrooms comes in under the 1.8m official height limit, so can’t be counted although it is all used (see photos). In contrast, in the centre of the apartment the ceiling is extremely high towards the apex reaching probably 4m.

The owner bought the apartment newly renovated 15 years ago and has used it for rentals ever since. It’s OK but basic – and is rented out in its current condition. But we have seen other apartments in this part of town and in Bivouac Napoleon in particular which are beautifully renovated and now cater to a far higher market.

http://www.azur-online.com/property_detail.php?pid=14&

The apartment in this link is also in Bivouac Napoleon a few doors down and about four years ago it was in a similar condition and doing 2-star rentals. Today it is most definitely 5-star and flourishing. But the choice is there, to renovate, to partially renovate, or to improve through better furnishing and carry on.

What I foresee for this apartment is three bedrooms (or two) and two bathrooms. At the moment it has two bedrooms and one bathroom. The floor space is there to allow this, and the position deserves it!

Vicky and I love apartments like this because we can recommend them without hesitation, because we know they are good – very good. If we use the 85m² the asking price is under 6 000€ per m², but even if we use the official 70m² its well under 7 000€.
Make an offer!

•

Croisette Apartment – Palm Beach.
Large and light one bedroom Cannes apartment for sale.

• 64m² of living space.
• West facing terrace.
• Ground floor.
• View across La Croisette and Bijou Plage.
• Spacious living room.
• Separate kitchen and pantry.
• Large bedroom.
• Shower and separate toilet.
• Asking price – 740 000€.

This apartment is just around the corner from us in Palm Beach, in a very good smaller building (10 units), set back and with lush gardens separating it from the road. It is on and overlooks the Croisette, and the address is La Croisette. Just the other side of the road – directly opposite – is Bijou Plage!

Bijou Plage is THE BEST! It is on our doorstep, but it is the most exclusive public beach in Cannes. It is quiet and sheltered, warm and spotlessly clean, serviced by two top-class beach restaurants offering sun-beds and umbrellas, and a kiosk serving baguettes, drinks and coffees. It is away from the road and encircled by gorgeous gardens, and at the southern end has Cannes’ only “handiplage” allowing specialist facilities and access to the water to handicapped people of all levels of incapacity.

The apartment has been completely renovated – new kitchen, bathroom, floors, lighting and ceiling. It is double glazed, and the shutters for the entire apartment are centralised for convenience on entry and exit of the apartment. The very spacious living room with large light windows and doors opens onto a small but very warm and appealing west facing terrace from which the view is of gardens, then La Croisette, and the gardens of Bijou Plage with glimpses of the sea through the gardens just beyond. It is a lovely situation.

Please click on the link for more photos and a map:
http://www.azur-accom.com/apartment/croisette-apartment%e2%80%93palm-beach/

In addition to walking straight out the door onto the Croisette and across the road to Bijou Plage, there is a gravel footpath from the back of the building leading directly to the Place de l’Etang, the central “place” of Palm Beach with shops, bakery, pharmacy, etc., as well as 4 restaurants.

The No.8 bus passes down the Croisette every 20 minutes and takes one to Cannes for a euro, and if one chooses to walk through the gardens and along the beachside to get there, it is 15 minutes to the centre.

•

The “Banane” is the arc of Cannes that curves along the seafront from the Old Town in the west to Palm Beach in the east, a total distance of about 3km, and it is made up of the most desirable and sought after property. All along the seafront edge runs La Croisette, which with the Champs Elysées is the richest and most famous boulevard in France. The Banane is only a few blocks wide at its widest point, demarcated on its outside edge by the Voie Rapide, the expressway allowing traffic to bypass the centre of Cannes. Unsurprisingly this sliver of prime real estate is banana shaped!

Banane apartment .
Very large central Cannes apartment for sale.
Major renovation project.

• 150m² of living space.
• 25m² of terrace.
• Ground floor.
• Bourgeois building – 1900.
• Aspect north and south – “traversant”.
• 3 to 4 bedrooms.
• 2 bathrooms.
• A big garage.
• Asking price – 788 000€.

Please click on the link for more photos and a map:
http://www.azur-accom.com/apartment/banane-apartment/

What you have is 150m² of space to work with, inside the Banane, for 5 250€ per m². That is very low and we know the seller is desperate to sell, so it is also very negotiable.

You are going to renovate this and still come in at just over or just under 6 000€ per m² assuming a reasonable negotiation of the purchase price.
You have a large lockable garage in the centre of Cannes and that’s an extra. It can be sold separately and its value is anywhere between 50 000€ and 70 000€.

The position on Rue Jean Jaures is right in the centre of Cannes, just a few metres from the Rue d’Antibes, and extremely well positioned for conference rentals. Given the space available and a complete redesign of the interior one imagines creating four bedrooms and three (or possible four) bathrooms, a large living room and a lovely kitchen. The terrace is up a few steps and north facing, and open, but it looks towards the Voie Rapide (expressway) which is the other side of some rooftops, so not immediately “in your face”.

It is not a terrace that offers much although there are signs that it has been used as a recreational terrace and for barbecues before. The northern side of the apartment will need good double glazing – and it already has that. The southern side opens onto Rue Jean Jaures which is a good street and like most of the centre of Cannes undergoing a great deal of improvement and semi-pedestrianisation. The centre just gets better and better, more and more attractive and pedestrian friendly.
This is a good project.

Sorry, I only have reasonable photos of the outside – the owner is away for a month and sent me very poor photos of the interior!

•

Platinum Properties.

CARLTON HOTEL – LUXURY APARTMENT.
• Two bedrooms.
• Two bathrooms.
• Lovely living room and kitchen.
• Additional guest toilet.
• Fully furnished – luxury finishes.
• New building (January 2011).
• Part of the Carlton complex and Carlton service and management.
• Use of Carlton facilities and beach.
• Garage and cellar.
• Asking price about 1.6m€
Details and photos to follow in the next Property Letter.

CROISETTE CORNER APARTMENT.
• Two bedrooms.
• Two bathrooms.
• Magnificent terrace.
• Glorious views.
• Luxurious finishes.
• Garage and parking.
• Top residence.
• Asking price about 2.25m€.

Details and photos to follow in the next Property Letter – soon.

• Renovation project – renovation optional.
• 1st floor.
• Bourgeois building (1900).
• Aspect north and south.
• View of city.

This apartment is in Rue Felix Faure which is the western extension of the Rue d’Antibes, before you arrive at the Hotel de Ville or Town Hall, and opposite Place Brougham and the Marché aux Fleurs which becomes the flower, antiques and open air art market every weekend. This in turn overlooks the Old Port and the Palais des Festivals. It is, simply put, in a fantastic position for rentals, or to enjoy the warm heart of Cannes! And it is being offered a very attractive price!

The entrance to the charming period building is clean and as they say “correct”. Nothing fancy as none of these older buildings are, but well maintained, painted walls, and good stairwell. The apartment is on the 1st floor and works today as a rental apartment for delegates to the many conferences that Cannes hosts. It has two bedrooms and one bathroom, and the downside is that one has to walk through the first bedroom to get to the second, and back through the first bedroom again to get to the bathroom. Not ideal!

However, the apartment has not had much done to it for a long time and begs to be re-thought, and given a new life. Hence my proposal that it be renovated; with ample floor space which it has, a second bathroom is essential as is a separation of the first bedroom to give it privacy.

It is all possible. With a starting price so low, and if it can be lowered further (which would be my suggestion), you’re going to end up with a two bedroom and two bathroom fully renovated apartment in a great building and a fantastic position for well under 6000€ per m². It’s brilliant.

• Major renovation project.
• 25m² of terrace.
• Ground floor.
• Bourgeois building – 1900.
• Aspect north and south – “traversant”.
• 3 to 4 bedrooms.
• A big garage.

What you have is 150m² of space to work with, inside the Banane, for 5 250€ per m². That is very low and we know the seller is desperate to sell, so it is also very negotiable.

You are going to renovate this and still come in at just over or just under 6 000€ per m² assuming a reasonable negotiation of the purchase price.

You have a large lockable garage in the centre of Cannes and that’s an extra. It can be sold separately and its value is anywhere between 50 000€ and 70 000€.

The position on Rue Jean Jaures is right in the centre of Cannes, just a few metres from the Rue d’Antibes, and extremely well positioned for conference rentals. Given the space available and a complete redesign of the interior one imagines creating four bedrooms and three (or possible four) bathrooms, a large living room and a lovely kitchen. The terrace is up a few steps and north facing, and open, but it looks towards the Voie Rapide (expressway) which is the other side of some rooftops, so not immediately “in your face”. It is not a terrace that offers much although there are signs that it has been used as a recreational terrace and for barbecues before. The northern side of the apartment will need good double glazing – and it already has that. The southern side opens onto Rue Jean Jaures which is a good street and like most of the centre of Cannes undergoing a great deal of improvement and semi-pedestrianisation. The centre just gets better and better, more and more attractive and pedestrian friendly.

This is a good project.

• Large and light
• West facing terrace.
• Ground floor.
• View across La Croisette and Bijou Plage.
• Spacious living room.
• Separate kitchen and pantry.
• Large bedroom.
• Shower and separate toilet.

This apartment is just around the corner from us in Palm Beach, in a very good smaller building (10 units), set back and with lush gardens separating it from the road. It is on and overlooks the Croisette, and the address is La Croisette. Just the other side of the road – directly opposite – is Bijou Plage!

Bijou Plage is THE BEST! It is on our doorstep, but it is the most exclusive public beach in Cannes. It is quiet and sheltered, warm and spotlessly clean, serviced by two top-class beach restaurants offering sun-beds and umbrellas, and a kiosk serving baguettes, drinks and coffees. It is away from the road and encircled by gorgeous gardens, and at the southern end has Cannes’ only “handiplage” allowing specialist facilities and access to the water to handicapped people of all levels of incapacity.

The apartment has been completely renovated – new kitchen, bathroom, floors, lighting and ceiling. It is double glazed, and the shutters for the entire apartment are centralised for convenience on entry and exit of the apartment. The very spacious living room with large light windows and doors opens onto a small but very warm and appealing west facing terrace from which the view is of gardens, then La Croisette, and the gardens of Bijou Plage with glimpses of the sea through the gardens just beyond. It is a lovely situation.

In addition to walking straight out the door onto the Croisette and across the road to Bijou Plage, there is a gravel footpath from the back of the building leading directly to the Place de L’Etang, the central “place” of Palm Beach with shops, bakery, pharmacy, etc., as well as 4 restaurants.

The No.8 bus passes down the Croisette every 20 minutes and takes one to Cannes for a euro, and if one chooses to walk through the gardens and along the beachside to get there, it is 15 minutes to the centre.

It’s not very long since my last Property Letter in June but I want to get some properties out to you “because they’re worth it!”

1. International Living

I have quoted from “International Living” magazine before; herewith extracts from their 30th year of producing this index:

“Countries are ranked in 10 categories – Cost of Living, Culture and Leisure, Economy, Environment, Freedom, Health, Infrastructure, Safety and Risk, and Climate.

As usual, the rankings have provoked equal shock and happiness from different quarters – Brits seem exceptionally upset, although not surprised, that their ranking has dropped below that of the Czech Republic.”

2010 Quality of Life Index: 194 Countries Ranked and Rated to Reveal the Best Places to Live

Every January, we rank and rate 194 countries to come up with our list of the places that offer you the best quality of life. This isn’t about best value, necessarily. It’s about the places in the world where the living is, simply put, great.

For the fifth year running, France takes first in our annual Quality of Life Index. No surprise. Its tiresome bureaucracy is outweighed by an unsurpassable quality of life, including the world’s best health care.

France always nets high scores in most categories. But you don’t need number-crunchers to tell you its bon vivant lifestyle is special. Step off a plane and you’ll experience it first-hand.”

•

2. The Connexion

“The Connexion” is a weekly that calls itself “France’s English language newspaper”.

It is full of interesting articles on holidays and travel, local, national and international news, politics, sport, interviews and profiles, events, the economy, property for sale in Cannes, villas for sale on the Cote d’Azur, arts, theatre and festivals, healthcare and anything else that might interest English speaking residents or visitors.

If you want to subscribe to keep in touch with what’s happening in France generally, or if you want eventually to buy property in the South of France this is the link. They do mail internationally.

Here are a couple of extracts that caught my eye:

On Property
After the amazing events in the housing market last year, where prices rose by nearly nine per cent – and 18 per cent in Paris – estate agents Century 21 say sales look to be settling down this year to a steady three per cent rise.

Prices hit record levels in 2010, but agency president Laurent Vimont said impending rises in the mortgage interest rate would take some of the heat out of the market.

However, that has not stopped the building trade; the record low interest rates, combined with increased incentives to buy housing, especially new energy-efficient housing, have led to a boom in building projects and a rise in the number of construction permits being issued.

From “Talking point”
“For reasons that still elude me, my wife and I bought a small house, actually an old butcher’s shop, in the sleepy town of Esperaza in the Aude Valley in 2007. Having had the initial rush of excitement pass, we thought that our interest would wane.

However, precisely the opposite has happened; as we get to know the local community better, both French and expat, we appreciate the place more; we find the withdrawal harder, and work increasingly difficult to concentrate upon! Our plans to spend a month there from time to time stretch to two months, and I am gradually trying to do more and more work virtually to allow more and more time in Esperaza.

Otherwise, learning the language, day dreaming and understanding more about the soul of life in France is wonderful, energising and we can’t wait to get back!”

•

“We had been travelling to France on 1 week vacations for 20 years until we could no longer resist the urge to buy property in the south of France. Six years ago, we fell head over heels in love with the Cote d’Azur. Although we could not find an apartment or house in our price range at that time, we settled on a timeshare for 2 months out of the year. Now we count the days between each visit. In between, we study French, read French magazines and books, read the local town news on the internet, endlessly search for affordable real estate, and hope for better currency exchange rates.”

•

“The British I find very strange are those who come to live in France on a permanent basis and then want to make their bit of France the British Isles. They want to set up an English speaking community; fish and chip evenings and the like. They import in their 4x4s as much British food as it will carry when they go back to the UK. They moan about the bureaucracy, usually because they can’t speak the French language. They dislike the idea that some shops still close at lunchtime and hate the whole idea that shops close on a Sunday. They love the fact that vans will now import UK food for them, and that it is now very easy to buy clothes from Marks and Spencer’s online! I ask you, France is known for its fashion. I met a man a while ago who said, “I don’t speak any French. If they don’t speak English, then I don’t want to know them.”

There are many more on a similar theme. Once people get to France, they love it!

•

3. The Euro

The Euro and its very existence have been under discussion in the financial pages, and a few recent articles have caught my eye – here are extracts from some with links to the articles in full for those who are interested.

The verdict? “The Euro is here to stay”.

•

Here is the concluding paragraph of an article by Steven M. Rogé, Author and Portfolio Manager with R.W. Rogé & Company.
While the future of the euro is currently undecided, the stakes in the current crisis are inevitably high and would impact the global economy. Indeed, although it is often times assumed that European countries will play the definitive role in deciding the fate of laggard economies , the IMF, United States and China have already pledged key economic and fiscal support to affected countries that suggests a post of stability in the storm…
This is Stephen Rogé’s article in full.

•

Kevin Cook is Senior Stock Strategist for Zacks Investment Research.
…The euro and the monetary union will survive I believe, with some possible adjustments that we can’t yet know. Sure, smarter minds than mine have ideas about it, but it’s such a field of unknown unknowns that I say “just watch the market — it will tell you what’s going on.”

Right now, the currency market is saying “We’re not sure, but a semi-crippled Europe looks as good, if not better, than a spendthrift US.”…

…Still think the euro is going away anytime soon? I’m gonna go with a big, fat “Think again.” Especially when I read a quote like this one from the Bloomberg story that decries the sense of massive structural changes necessary in anyone’s fantasy of going backwards to the German deutschemark:

“The theme for this decade is that millions of people in China want to live like Europeans,” said Herbert Perus, head of equities at Raiffeisen Capital Management in Vienna, who helps oversee about $36 billion. “The ‘Made in Germany’ brand is going to be very strong in this market.”

When you look at this way, and visualize all the assets and investment machinery built and priced in Euros now, it’s probably not a stretch to think they will find a way through this debt crisis and emerge stronger five to ten years from now. At least that’s what the market is telling us now.

Here is Kevin Cook’s article in full:

•

The last word comes from Holger Schmieding, former economist at Merrill Lynch/Bank of America, now chief economist at Berenberg Bank. (23rd June 2011).
The euro will survive. The risk that France and Germany will divorce and return to separate currencies is significantly smaller than the risk that England and Scotland will divorce and introduce national currencies.

Europe is, as we speak, strengthening its consensus against contagion by raising the borrowing capacity and by preparing the permanent European Stability Mechanism from 2013.

•

European Stability Mechanism?
From 2013, this will provide a permanent lending facility for countries that are unable to pay their debts. The new mechanism will raise money to lend to countries in trouble and will be backed by the European Commission and International Monetary Fund.

4. Luxury Real Estate Worldwide

Five of the top 7 luxury real estate markets in the world are in France, and Cannes property sales come in at No 7 according to a joint study by Knight Frank and Citi Bank published on 6th July 2011. Here is the original article in L’Express – in French.

What it says to me is that investment property in Cannes is some of the most sought after property in the world and a very safe investment in a world where we all know that, love it or hate it, “the rich get richer and the poor get poorer”. We know that Cannes and Saint Jean Cap Ferrat and other key enclaves on the French Riviera did not feel the effects of the recession as the rest of the world did. Because the wealthy are cushioned from many of the ill effects the markets quietened but hardly dipped. The same we know to be true of other destinations on the list below:

1. Monaco
2. London
3. Saint Jean Cap Ferrat
4. St Tropez
5. Paris
6. Courcheval
7. Cannes
8. Tokyo
9. Hong Kong
10. Singapore
11. Cyprus
12. Sardinia
13. Guernsey
14. Geneva
15. Aspen
16. Moscow
17. New York
18. Cortina (Italy)
19. Mosquito Island (Caribbean)
20. Meribel

With kind regards,

Guy.

• Large terraces front and back.
• 1st floor of 5.
• Construction 1983.
• Guest toilet.
• Orientation north and south.
• Parking and cellar in the basement.

This apartment in the centre of Cannes, in the so-called “Banane” which is the area which is between the Croisette and the “voie rapide” or “speedway” which divides Cannes and for all its unfortunate connotations provides us with traffic solutions – life without it would be hell!

The apartment is in a well maintained building very close to our rental offices at Everything Cannes and very close indeed to the Hotel Carlton, and being so close to the Croisette it is a perfect rentals unit. It has the bedrooms, the bathrooms, the guest toilet, and a lovely south facing living room and terrace. Added to which it has been very well renovated to new condition.

• 3rd floor of 5.
• South facing balconettes.
• Unparalleled views!
• Oriented full south and north.
• Constructed in 1900.
• Garage in the basement.

Magnificent Two Bedroom Apartment.

La Californie is undisputedly the suburb of choice in Cannes and the whole French Riviera, and this elegant and exceptionally gracious building adds a touch of added class to what is already the jewel of the region. Designed and built by the same ground breaking architect who built the other two great masterpieces of the time, the Carlton Hotel in Cannes and the Famous Negresco in Nice, this noble residence, timeless in design and crafted to perfection, also has the pick of position. The views are simply inspirational.

The spacious apartment itself with a double living room facing south towards the sun is on the third floor of five, and as one can see from the photographs, it has been loved. The finishes are of supreme quality and style, of real Bourgeois elegance and distinction, and turn the clock back to age old elegance. The gardens are as old and celebrated as the building itself and are “listed” – protected by the state from further development of any sort, and given heritage status.

Please go to the website for a selection of photographs which are too many to put into this letter.

• 1st floor of 5.
• 30m² of terrace.
• Two bathrooms and three toilets.
• Sweeping views of the Port Moure Rouge and the sea.
• Orientation east and south.
• Construction 1995.
• Two garages in the basement.

This spacious and relatively recent apartment (1995) overlooks the Port Moure Rouge on the eastern side of the Palm Beach Peninsula.

Its views across the Port and the Bay beyond, with the Iles de Lerins are wonderful, and the apartment being set back from the road as it is benefits from being relatively quiet. It is just a couple of hundred metres to the Beaches of Palm Beach, the restaurants on the beach, and the restaurants and village life on the Place de l’Etang.

Even closer is the little village of Sablons at the heart of the Peninsula with its patisserie, butcheries, grocery shops, post office, hairdresser, pharmacy, laundry and newsagent. You want for nothing within a few hundred yards! It is a truly great position and will make someone a luxurious and very comfortable home or second home.

There is ample storage space in the apartment and in a store room on the landing, plus a very generous double garage in the basement capable of taking two large 4×4’s easily.

• 5th floor of 5.
• 145m² of magnificent roof terrace.
• Three bathrooms, three toilets.
• 360° Views.
• Construction in the Belle Époque.
• A parking space.

This property is unique.
This dazzlingly different apartment on the 5th and top floor is renovated to the highest possible standard with a state of the art Miele kitchen off a spacious living room with ultra-modern finishes, clean cut design, and quality electronics throughout. The three bedrooms have bathrooms en-suite and the main bedroom has a separate child’s bedroom or dressing room, which has a separate entrance and can quite easily be considered as a fourth bedroom.

There is a lift which arrives in the apartment and has its own security – nobody without access can exit the lift at the 5th floor.

On the 5th floor level there is a terrace off the living room, and the views from the terrace and the living area are of the city and the hills beyond.

You buy a home and a venue.
One mounts a staircase to get to the roof and there is 145m² of entertainment space, or private space, with views through 360° and no overlooking building anywhere. It has been entirely floored in hardwood; it has a summer kitchen and workspaces of professional catering dimensions and a restroom with toilet and basin for the use of guests. There is also a plunge pool and shower to add a touch of outrageous luxury.

There is the aluminium support and structure (dismantled and neatly stored on the roof when not in use) and the tents to cover half of the rooftop including the catering facility, and the space allows for entertaining 100 to 120 people.

None of those people need ever enter the apartment! On the 5th floor landing the door to the apartment can be closed, as can the doors from the apartment to the 5th floor terrace and ultimately to the roof. Guests to functions therefore emerge from the lift or the stairwell and go straight to the function on the roof, where everything they need including restroom is available – the apartment stays pristine and private if that is what is required.

The current owner has spent 5 years improving the apartment and the venue, and has lived in the apartment when it was not rented out. He has been overwhelmed with demand for the rooftop venue during almost all conferences and festivals, and rented the apartment very well too. Figures are available.

Not to mention the location.
It’s a no-brainer – investors please take note.
You have 21st century living in an inspiring apartment, a conversation piece in the heart of just about the most luxurious street in France. Only the Champs Elysee in Paris can compare. It is right on the Rue d’Antibes, a stone’s throw from the famous Croisette, set above some of the most fashionable shops and restaurants in the world, and just a few minutes’ walk from the iconic Palais des Festivals.

• 55m² of terrace and garden.
• Orientation south.
• View of the garden.
• Ground floor of 5.
• Private parking.
• Cellar.

A beautiful apartment in a very good building, it has a south facing terrace with awnings to provide relief from the direct sun. It also benefits from the exclusive right to the ground floor garden and a private parking space. It has a really very attractive outlook and quiet, sunny feel.

The area is a quiet residential nook, poised on the landward side of Palm Beach and just east of the Croisette. It is a very short walk of about 250m to the shops of Palm Beach. It is also just 300m from the Croisette at its eastern end. The little “quartier” around Parc de Madrid is just about two blocks wide and four or five long and is also served by great shops on Marachal Juan and on Alexandre III either side; grocers and patisseries, florists, newsagents and cafés that are even closer than Palm Beach if one wants to pop out for a baguette, and English newspaper or an espresso.

The apartment itself is beautifully renovated and comprises a large entrance and a living and dining area with an open plan kitchen, all of which communicate directly through big glass sliding doors with the terrace and garden. There is a guest toilet. The main bedroom has a bathroom en-suite with toilet and the second smaller bedroom has a shower room with a toilet.

The apartment is air conditioned, and all the shutters and awnings are electric, and windows double glazed against colder weather and sound.

• 10m² of balcony.
• 3rd floor of 6.
• Orientation north and south.
• View of Palm Beach suburb.

The address is “La Croisette” and the entrance to the very prestigious building is via “La Croisette”, however the apartment is on the northern flank of the “L” shaped building so that it looks north instead of directly across the Croisette and west.

From the good sized balcony one looks across the suburb of Palm Beach and obliquely to the left are the lawns, trees and beaches of the Croisette – it is a very attractive outlook.

The apartment traverses the building so that the frontal view from the living room and balcony is north and the view from the bedroom is south, across a narrow corridor and a quiet courtyard.

The apartment has not had a facelift for some time and although it is clean, it could do with some modernising in the equipped kitchen and the bathroom, and a fresh coat of paint. It does not require major renovation but a freshening will turn it into a desirable rental property. We have another investment property on the same floor, also looking north, which has been a very successful rental unit for some years now as well as having given weeks of pleasure to the friends and family of the owner.

1. The Cannes Film Festival.

(I know so many people far more qualified than me to write about this, so I hope they will forgive me.)

The Cannes Film Festival hasn’t just produced six and a half decades of fabulous films, but each year it has also created a unique and artistic representation of the worlds most prestigious and glamorous film festival. The Cannes Film Festival Poster has become an iconic symbol of the history of the city and its homage to cinema, and the 64 posters so far, all printed in limited edition, are collector’s pieces in their own right.

As I write the Cannes Film Festival is entering its second and last week. For many it is little more than a spectacle (love it or hate it), but the fact is that it is the most important business gathering in the world for a global industry:
• Revenues 2009 (USA only) – $10.6 billion
• Revenues 2009 (world) – $29.2 billion
• Employment generated (USA only) – 2.5 million jobs!
• Employment generated (world) – I don’t know, just try to imagine!

There is a lot more to the Cannes Film Festival than eye-candy!
The first festival was set to be held in September 1939. The German attack on Poland on 1 September 1939, followed by the declaration of war against Germany by France and the United Kingdom on 3 September, ended the first edition of the festival before it started (but not before they produced a poster!)

It was re-launched after World War II and in 1946 the Cannes Film Festival was finally inaugurated. It has become the most media-covered film event in the world. There is nothing else quite like it.
It has long established itself as the single most important showcase for films from around the world, and is the most invaluable venue for film producers to launch their new films and to sell their works to distributors who also come from all over the globe.

Over the years the Festival with its glamour, its extravagances and its scandals has forged for itself a place and a reputation at the top of the league of world events, but behind the facade there is intense competition between the world’s greatest in cinema for fame, fortune, and hard-earned recognition of their talents.
The most prestigious award is for the best film of the year.

It is the famous and coveted Palm d’Or awarded by a jury of professionals which is this year headed by Robert de Niro. However there are numerous lesser but equally coveted awards for Best Actor, Best Actress, Best Director, Best Screenplay, Best Young Talent, Best First Feature, and many more. There are even awards for Best Student Film and “Palm Dog” for the best canine performance! It really is an all-embracing industry-wide event.

Celebrities! It might be easier to list those who are not here in 2011, but these are a few (out of hundreds of worthy professionals) who’s names I happen to know: Dustin Hoffman who amused the press and onlookers by photographing them from the red carpet, Jane Fonda looking amazing at 73, Robert de Niro who is president of the panel of judges, Uma Thurman on the panel with De Niro, Johnny Depp, Brad Pitt, Tom Cruise, Angelina Jolie, Gwyneth Paltrow, Penelope Cruz, Lady Gaga, Paul McCartney and his new fiancé, Woody Allen, Mel Gibson, Jodie Foster, Jude Law also on the judges panel, Antonio Banderas, Cheryl Cole not covering up much, Mariah Carey, and the list goes on. And on….

2. Le Palais des Festivals.

The conference facility is integral to the success of the Film Festival and all the other events staged there every year. It is a complex of 35 000m² of exhibition space and multiple halls with 18 auditoriums, the largest of which seats nearly 3000. It was originally built in 1949 to host the Cannes Film Festival, the success of which, combined with the success of such business conventions as the MIPTV Media Market (since 1965), MIPIM the property conference and others has led to its becoming what it is today – a technological marvel with ultra modern and sophisticated equipment, surpassing even that of the Palais des Congrès de Paris.

The almost continuous renovations and improvements over the years have resulted in its being awarded honours in the fields of Quality, Environment and Safety and plans are already in place for future expansion.

3. The G20 hits Cannes in 2011.

Cannes has been chosen to host the 6th annual G20 Summit during the week of 3rd/4th of November. The Palais des Festivals will host the heads of government of the 19 core members of the G20 major economies and the European Union which will be represented by its two governing bodies, the European Council and the European Commission. In all they represent 85% of the world’s gross national product, 80% of world trade and two thirds of the world’s population. Also attending in their official capacities will be a number of invited states, and international organisations such as the European Central Bank, the IMF, the African Union, the United Nations, the World Bank, ASEAN and many others.

Here’s a part of their agenda for you to think about – it is no small task ahead!
• Coordinating economic policies and reducing global macroeconomic imbalances.
• Strengthening financial regulation.
• Reforming the International Monetary System.
• Combating commodity price volatility.
• Improving global governance.
• Working on behalf of development.

4. A French Mortgage – Bullet Points:

• The mortgage will be in Euros secured against French property.
• Mortgages up to 90% can be obtained (slightly less for South Africans).
• Lenders assess the applicant’s ability to repay the mortgage and outgoings including the new mortgage should not exceed 30% of income.
• Lenders will lend to individuals or an S.C.I. (go to The SCI Guide.pdf for more information on S.C.I’s.)
• If the cost of proposed renovation is to be applied for quotes are required from French builders.
• Interest only and repayment mortgages are available.
• Fixed rates or variable rates are available over short 5 year terms or longer 30 to 40 year terms but loans must be repaid by age 80.
• With most loan agreements today, early redemption penalties do not apply or if they do only for the first five years.
• Applicants must submit proof of income and outgoings, recent bank statements and proof of identity and residence (a tax return for example).
• A life assurance policy is normally required, and most lenders will arrange their own provider for you if needed.
• A French bank account from which to arrange a debit order for monthly repayments needs to be opened.
• Completion should take about 3 months from beginning to end.
• The bank’s fees are typically 1% up to a maximum of 2000€.
• The notaire’s fees are typically 6.5% of the purchase price.
• Estate agency fees are always included in the purchase price and are normally 6%.
• For people transferring funds into France there are options at 0% commission, and fixed forward contracts for up to two years can be arranged, protecting you from movements in the currency market. (Please enquire for more information).
• You do not need to be present at signing; your notaire can represent you under a Power of Attorney.

Interest rates and repayments:

Typically you will be able to access loans at the rates below and to help you to visualise what it means in money terms I have done examples based on a mortgage of 250 000€ over 20 years on a loan to value ratio of 80% (lower interest rates may be possible at lower rates of borrowing):

Fixed rate Interest only 4.20% 875€ monthly
Variable rate Interest Only 3.00% 625€ monthly
Variable rate Repayment 2.60% 1 337€ monthly
Fixed rate Repayment 4.25% 1 548€ monthly

5. Tax Reforms and Foreign Investors:

Wealth Tax:
Recent tax reforms announced by the French Government do not include the abolition of wealth tax (ISF or Impôt sur la Fortune) as widely hoped for, but the threshold has been raised from the previous level of some 780 000€ to 1 300 000€ lifting many out of the bracket. In addition the proposal visualises just two tax brackets of 0.25% between 1.3m€ – 3.0m€ and 0.5% thereafter. That will be a lot simpler than the many levels one had to deal with previously.

New tax on non-resident holiday homes:
Non-resident holiday home owners will (assuming it goes through parliament and starting in 2012) pay a new tax over and above the taxe foncière, of 20% of the rental value, even though they might keep the house for their own use. The “cadastral” rental value may be calculated using the same formula as is used to calculate taxe foncière, or the tax may be based on “real” rental value. The details are still to be worked out and announced, and it may and probably will extend to all non-resident owned properties, rented or not.
The reason given is that holiday home owners should contribute towards services and infrastructure from which they derive benefit when they are in France.
There is debate to come and there are legal challenges ahead before it becomes law.
There are other changes: Succession tax between spouses and partners was abolished and the regime reworked to include generous allowances particularly between close family; there is a 5% increase in inheritance tax rates for inheritances valued over 1.8m€; and the survival period required for tax free gifts has been extended (6 years goes to 10).
But the main issues remain – some good news on wealth tax and some bad news on second homes.

6. Area Profile:

Le Suquet (The Old Town of Cannes) :

Le Suquet is the historic centre of Cannes situated directly opposite the Old Port which served the town in days gone by and still does today, and the Palais des Festivals symbolising the modern era. With buildings and architecture dating back to the 10th century, climbing, winding, cobbled streets, shops, stalls and traditional restaurants, and sitting at the western end of the ultra-chic Rue d’Antibes, Le Suquet is predominantly pedestrian, offering a genuine village ambiance within the city.

At the summit is an ancient church (not a cathedral so Cannes can’t be called a city) topped by a clock tower visible from almost everywhere in the valley – a genuine landmark. The mediaeval protective wall still encircles parts of the summit, and the original fisherman’s houses tumble across and around one another today, inside and outside the old walls, and spill down the hill towards the Old Port. This charming and multi-coloured Provencal fishing village is sought after real-estate today. Its proximity to the heartbeat of the Riviera, the Palais des Festivals, La Coisette, and the Rue d’Antibes, and its profusion of world class restaurants make it an international attraction in its own right.

At the base of Le Suquet is the famous Marché Forville, open six days a week for fresh local Provencal products prized by the residents of Cannes and “star” restaurateurs from all over the valley and further afield. (Only on Mondays is it not open for produce, but it becomes a wonderland of antiques and bric-a-brac, a market that many visitors to Cannes take pleasure from visiting.) The market is covered and extends across an entire block, and a visit to Cannes without a visit to Marché Forville is an opportunity missed. Fresh fruit and vegetables, pastas, preserves, charcuterie, cheeses, fish and shellfish, speciality meats and flowers all so mouth-wateringly fresh are on offer and the place is a buzz of activity and colour. Surrounding the market are more specialist stalls, bakers and patisseries, coffee shops and wine specialists where it is a local tradition to sit at the tables on the pavement and enjoy a glass of wine or champagne with some oysters opened on the street, or olives from the region, and talk, enjoy the sunshine and watch the activity all around. The area is currently being upgraded and the streets immediately around the market are being further pedestrianised adding to the ambiance.

It is a feature of Cannes that the ancient and the traditional sit comfortably with the ultra modern and the chic. One only has to sit at a well worn square of rough and dusty gravel ground atop Le Suquet and watch the locals excitedly partake of a match of pétanque (boules) in age-old fashion, and then walk down the hill to see some of the world’s most expensive super-yachts in the Old Port not five minutes away, or wander past the state-of-the-art Palais des Festivals, along the Croisette or the Rue d’Antibes with their super-modern touches amongst the ancient, to realise that the ancient is preserved while the modern is all around. And there is harmony, quality of life, and an absence of conflict.

7. French Property – Recent News Clips:

“In February, searches for international property on Primelocation rose by 72% with French property enquiries increasing the most, growing by 113%, and making up 29% of all the international searches on the site.”
*
“European property sites are reporting some of the biggest jumps in searches for French real estate recently—increases as high as 133 percent compared to the same time last year. With better accessibility and falling prices, property firms as well as the media are predicting that France will be the 2010/11 investment star. The South and South-west of France topped the Telegraph’s list of “The World’s Best Places to Live.”
*
“While France has always been a prime investment destination, experts are saying that the recent re-interest may be attributed to a trust law that passed last month, in which foreign trustees are now allowed to invest in property within France. This is also good news for wealthy investors, who can use offshore funds for property transactions without heavy taxation, as well as for investors in tax havens such as Jersey, Guernsey, the Isle of Man, the British Virgin Islands and the Cayman Islands, who are now exempt from a previous three percent tax penalty.”
*
“Also reported is a surge in the number of mortgage applications for residential properties in France. Some of this has been due to a slight ease in bank lending, but those who are fortunate enough to, are still paying in cash.”

8. “From Pitt to Penn to Woody at Cannes”

All the big names, some art films and a few blockbuster movies make film festival the place to be
By JAY STONE, Postmedia News May 10, 2011

The Cstory at the Cannes Film Festival is that many years ago, a man attending a press screening in the capacious Debussy Theatre was saving a seat for his friend, who was late. As the lights went down, he yelled his friend’s name: “Raoul.”
It must have been a haunting and plaintive cry because it has echoed down through history like the howl of some strange werewolf of cinema. Every year, as the lights dim in the Debussy and the Cannes theme – The Carnival of Animals by Camille Saint-Saens – begins to play, someone will cry out “Raoul,” partly in homage and partly as the “Play ball!” of the festival. It usually brings a laugh of recognition and relief from the assembled journalists, for it means they’re home again.
Cannes is where the new – cutting-edge movies from the world’s foremost directors – and the old – “Raoul” – live in happy disharmony, a melding of high and low culture. “It seems that floating on the Croisette is a scent of lightness, desire and peace,” festival director said in his introductory notes to the 64th festival, which starts Wednesday. But you could argue it’s a perfume comprised of ocean breezes, fresh baguettes, and 200 photographers in their tuxedos standing in the heat and shouting for Brad Pitt to turn around and smile. Its sweaty work, but they never fail to deliver.
Pitt will be there again this year; he co-stars with Sean Penn in Tree of Life, the much-anticipated new film from Terrence Malick, the reclusive – i.e. paparazzi-shy – director of such poetic meditations as Days of Heaven. Tree of Life, one of 20 films in competition for the Palme d’Or, is a said to be dreamy film about a young man coming of age in Texas, and cinephiles are already drooling, although that could be the baguettes.
Tree of Life is just one of many gloriously promising titles, starting with Wednesday night’s opening gala Midnight in Paris, Woody Allen’s latest love letter to a city that is NOT New York. It stars Owen Wilson, Rachel McAdams, and Carla Bruni, wife of French President Nicolas Sarkozy, and just to add to the lustre of the occasion she is rumoured to be pregnant – at age 43 – with twins. (For those who can’t get enough of this sort of thing, Cannes will also feature The Conquest, a biopic of Sarkozy that includes the Bruni romance.)
Bookending the festival is the closing-night romantic comedy The Beloved, with another French icon, Catherine Deneuve.
Neither of those movies is eligible for the Palme, but between them is a juicy menu of choices for Robert De Niro and his jury, which includes Uma Thurman and Jude Law. Here’s a look at some of those movies:
–The Skin I Live In, Pedro Almodovar’s creepy drama, stars Antonio Banderas as a plastic surgeon who creates a new, injury-proof skin and needs someone to test it on. It’s also reported to be about a man who takes revenge on the man who raped his daughter. Almodovar calls it a horror movie without frights.
–Melancholia is a science-fiction film starring Kirsten Dunst and Kiefer Sutherland and directed by Lars von Trier, who turned Cannes on its ear two years ago with the sexual violence of Antichrist. Melancholia is a psychological disaster film – family trouble on the eve of the apocalypse – being promoted as “a beautiful movie about the end of the world.”
–We Need To Talk About Kevin, directed by Lynne Ramsay – one of four female directors with competition films, the biggest contingent in Cannes history – is based on Lionel Shriver’s best-seller about a mother (Tilda Swinton) who has to deal with her grief when her son goes on a killing spree at school.
–This Must Be The Place, directed by Paolo Sorrentino, stars Penn as a former rock star – the publicity shots show him in dyed black hair and Goth whiteface – who sets out to find the ex-Nazi guard who killed his father.
–Drive, directed by Nicho-las Winding Refn, stars Ryan Gosling in an action-film-turned-art-house-entry about a Hollywood stunt driver who moonlights as a getaway driver.
Not a lot of lightness, desire and peace so far, but Cannes also serves as a showcase for blockbusters – this year, the Johnny Depp/Penelope Cruz movie Pirates of the Caribbean: On Stranger Tides will have its debut – and animated comedies.
In 2007, Jerry Seinfeld dressed up as a bumblebee and slid down a wire strung across the Croisette to promote his otherwise forgettable Bee Movie. It was, as everyone strained to write, a new way to create buzz. There are no bee suits this year, but le buzz is thick on the ground. Footage of the Shrek spinoff Puss In Boots will be shown, and Salma Hayek and Banderas will be here to discuss its cultural implications. Critics will also see Kung Fu Panda 2, then talk to cast members Jack Black, Angelina Jolie and Dustin Hoffman. In 2008, during the Cannes promotion of the first Kung Fu Panda, Black revealed to the world that Jolie was pregnant with twins – hello, Carla Bruni – and Hoffman announced her due date.
And there’s more: A special award to French actor Jean-Paul Belmondo, another one to Italian director Bernardo Bertolucci, and a salute to the films of Egypt, which show – in the words of Fremaux – “how cinema moves to the rhythm of world events.”
All that and Brad Pitt too. We’re not sure we can save you a seat this year Raoul, so get here early.

With kind regards,

Guy.

• 60m² of terrace!
• Chambre de bonne (maid’s quarters) 10m².
• Orientation south.
• Sea and garden view.
• Cellar and parking.

This sleeping beauty has oodles of promise.
It’s a very pleasant smaller residence, just off Avenue Roi Albert in La Californie (arguably the best suburb in Cannes). It has a guardian and guest parking, is well maintained and just a two minute walk down the hill to coffee shops, patisseries and everything you could want. It has been years since anything was done to improve this apartment, and it just begs for someone to come in with imagination and make it beautiful again! With the incredible space available, and the largest south facing terrace you’re ever likely to find, the possibilities here are endless!

I would just love to be a part of this restoration, which needn’t be enormously expensive as the basics are all there.

I think the price is a little high and would recommend a lower offer.

• Elegant Luxury and very good value in today’s market.
• This is a rare find.
• 14m² of south west facing balcony.
• Views of sea and La Croisette gardens and palm trees.
• 1st floor of 7.
• Construction – 1975.

This is a beautiful apartment, refreshingly different.
It was recently renovated to an exceptionally high standard in one of the most beautiful residences in Palm Beach. In fact it dominates the entrance from La Croisette into Palm Beach, and the views from the apartment across the gardens to Bijou Plage (Jewel Beach) just 100m away are magnificent.

Bijou Plage is a favourite for people wanting to be a little away from the glitz of the beaches right in the centre of Cannes, the restaurants on the beach are renowned for providing the most wonderful ambiance and excellent menus, and it has one of the few “handiplages” in Cannes with wheelchair access to the water and rest rooms to suit disabled people.

There is a full time resident care taker in the building, dedicated parking and a very clean and substantial cellar.

One enters the apartment through a lovely entrance hall with concealed lighting, and into the quietly elegant living room with an uplifting view out and over the gardens to the sea. Each “coin nuit” is separate with a private passage to each bedroom, one with a bathroom and shower and toilet, and the other with shower and toilet. There is also a guest toilet.

The apartment is being sold furnished, absolutely as you see it in the photos – ready to move in.

For someone this is a dream second home, and one capable of earning substantial rental income annually from top-flight visitors to help offset the costs, if desired.

• 50m² of magnificent terrace.
• Orientation full east, south and west.
• Construction in the Belle Époque.
• Inspirational views to the sea.
• Parking space on the premises.

Grasse is perched in the hills overlooking Cannes and Mougins, and taking traffic into account it is just half an hour from Cannes, but it is also well served by busses and a recently established rail link. Started in March 2005, the line connects Grasse to Cannes (in 25 minutes), and on to Antibes, Nice, Monaco, Menton, and Ventimiglia, all without changing. The hourly trains are modern TER double-deckers and the top level allows one excellent views of the countryside and villages, rose plantations and olive groves, ancient “mas” (stone farmhouses), stone aqueducts and wild flowers.

Grasse has been the perfume capital of France and the world since the 17th century and still accounts for two thirds of France’s production. The three historic perfume manufacturers – Fragonard, Galimard and Molinard – welcome visitors and provide free guided tours.

The centre of the town is a melee of narrow winding streets and stairways, a square Saracen tower, remains of the 16th century ramparts and medieval homes dating to the 17th and 18th centuries. There are also superb private mansions (Hôtel de Cabris, Hôtel de Pontevès, and Court de Fontmichel) and magnificent 18th century villas … as well as the Belle Époque casino (now converted into a conference centre).

This apartment is in one of the most “magnifique” of these Belle Époque buildings, recently renovated (2010/11) to restore its exterior to its original historical elegance – it is a landmark of the eastern edge of Grasse.

The apartment is on the first floor when one enters from the back, but the land and the building fall away towards the valley below, so from the apartment which is on the front of the building one it is far higher than that.

Few apartments or residences in this grand old building have terraces! But this one has the most magnificent terrace of all with views of old Grasse, rolling Provence, and in the distance the Bay of Cannes, the Cap d’Antibes and the sea.

The owners have renovated with incredible love, warmth and to exceptional levels of taste and quality, combining the ambience of old and new, opulent in mood but entirely functional in design, and for such a rare and uplifting home or second home, the price is really affordable to many.

There is a parking space with the apartment, and it is a five minute walk to the town.

• 25m² of balcony / terrace.
• Orientation west and east.
• 1st floor of 7.
• Views of Croisette and sea.
• Cellar and closed collective parking.

This apartment is in one of the most beautiful residences on the Croisette, in Palm Beach, and enjoys lovely views across the Croisette and carefully tended gardens to Bijou Plage (Jewel Beach).

There is a generous entrance hall with a fully equipped kitchen opening onto the living room and the lovely view. The spacious front bedroom has its bathroom en suite and a smaller back bedroom looks out over a gardened area at the back. (The back bedroom has a frosted glass window and we would recommend lightening it by removing the frosted glass and metal bars and putting in a clear window.) This bedroom has its own bathroom, with shower and toilet. There are cupboards in both bedrooms and quite a big extra cupboard off the hall.

There is a cellar in the basement, and although there is not a garage or designated parking bay allocated to this apartment there are about 20 parking spots inside the premises at the back – we went to see and at least half of them were open for use. This parking lot is first-come first-served for residents.

• 40m² of rooftop terraces.
• Orientation full east and west.
• 5th and top floor.
• Fabulous views.
• Construction 1995.

This unique apartment with views across the bay eastwards to Juan les Pins and the Cap d’Antibes and south across the Isles de Lerins and beyond sits atop a relatively modern building, close to the tip of the Palm Beach peninsula, or Pointe Croisette as it is known locally.

The apartment is large with a huge living room with spectacular views, leading onto magnificent rooftop terraces. There are three bedrooms and two bathrooms, and a spacious equipped kitchen.

The popular Gazagnaire beaches are right below, the famous 1930’s Palm Beach Casino is 100m away, with its restaurants, pool, beaches and entertainment, and it is a very short walk to another 5 restaurants on the Place de L’Etang, the heart of Palm Beach.

What a position!

• Lovely open terrace.
• Orientation south west and north east (“traversant”).
• 3rd Floor of 7.
• Fabulous views across Port Canto and the Bay.
• Cellar and garage.

This is a luxury apartment overlooking extensive lawns and gardens before reaching the Croisette, with the exclusive Port Canto and the Bay of Cannes beyond. Needless to say it is a prestige property in a very prestige block, quiet because it is set well back from the road and with spectacular views from the third floor. The centre of Cannes is a short walk westward along the Croisette, and the iconic 5 Star Hotel Martinez which opened its doors in its most recent incarnation as a luxury hotel in 1929, is just five minutes away.

The apartment has been renovated to a very high standard, the kitchens and bathrooms are luxurious, and the south west facing balcony is spacious. There is a cellar in the basement, and a garage which is always a valuable asset in Cannes.

• 200m² of garden and terrace.
• Orientation south and west and north.
• Sea views.
• Swimming pool.
• Garage and cellar.

This apartment in La Croix des Gardes on the eastern side of Cannes is in a very small residence constructed in 1990, and comprising just 9 or 10 co-proprietors. There are lovely views across the leafy suburb and the sea, no vis-à-vis and absolute quiet.

It is an excellent apartment on the western corner of the building closest to the pool, and quite exceptionally has 200m² of private terrace and garden, which is why the girls in the agency describe it as “comme une villa” (like a villa).

It is quite possible to create a third bedroom by creating an open plan kitchen and utilising the space gained, or by applying to the co-propriety for permission (which should be granted) to enclose a section of the covered veranda which lends itself perfectly to enclosing.

• 21m² of terrace.
• Orientation south and north.
• 4th Floor of 7.
• Uninterrupted View of the Bay of Cannes.
• Cellar in the basement.
• Garage available.

This 4th floor apartment with commanding views across the Croisette and the Bay of Cannes has just been renovated to very high specifications. We know the person who did it as he does it as a business, and his reputation is very sound. As you can see from the photos the materials he uses, the workmanship and and the finishes are of top quality. All the appliances are Siemens, the sliding doors and finishes on cupboards, and the window treatments and blinds are of high quality, the lighting, the centralised electric shutters and their controls are new and silent. Everything about this apartment is perfect. It is basically furnished (with quality furniture) which can go with the sale – that is optional.

The position right on the Croisette is of course about as desirable as real estate gets in France, the views are sublime, and the wide and deep terrace are built to maximise them. From the 4th floor one looks right over the top of the Croisette and the palm trees, so the road below is actually invisible when one sits on the terrace.

The living room is spacious and benefits from the lovely views, the kitchen is large and beautifully equipped, the bedrooms are comfortable with generous cupboards, and each has a bathroom.

The building and the common areas are of quality – clean, light, open and welcoming, with a guardian.

• 87.5m² of living space.
• One little balcony – 4m².
• Two bathrooms, two toilets.
• Orientation east and west (“traversant” in French).
• Construction 1997 (Modern!).
• View of the Rue d’Antibes below and rooftops behind.
• 4th Floor of 5.
• Cellar in the basement.
• Large lockable garage in the basement.
• Asking price – 630 000€
• Garage – 30 000€

This apartment is in a new quality building in the Rue d’Antibes. There are not many, and “new” has its advantages in maintenance and upkeep terms. The entrance and common areas are clean and spacious and very attractive, and the lift “huge” by French standards (6 people at least).

The apartment has been used as offices until recently, so it needs some basic renovation – under the dark parquet flooring is white marble that could be exposed by taking out the false parquet. The walls are painted wallpaper and it would be good to go back to the plaster underneath and a new coat of paint. The kitchen and bathrooms should be redone, new. All the windows are in place, double glazed, and air-conditioning and electrics and plumbing up to standard, so to achieve its potential is not a big project – it is cosmetic.

There are a lovely big living room, two big bedrooms with bathrooms, and a big kitchen. The position is fantastic in the heart of the Banane, and the address is Rue d’Antibes. The price is very fair and we have seen garages go for up to 80 000€ in the centre….

THIS IS AN INVESTMENT PROPERTY DESERVING OF SERIOUS CONSIDERATION.

• 10m² of terrace.
• Orientation south and north.
• View – fantastic!
• 2nd floor, but from a very high base.
• Garage and cellar in the basement.
• Extensive guest parking.
• Beautiful pool and tennis court.

In our favourite area linking Cannes and Golfe Juan, with views to die for!

This spacious one bedroom apartment in a top quality building traverses it so the northern views from the kitchen and bedroom are entirely quiet and private too, looking at a hillside, trees, birds and without a sign of any other buildings whatsoever.

The guardian, the security, extensive gardens, pool and tennis court are extras!

MIPIM

In the week 7th to 11th March Cannes played host to the annual MIPIM conference. It describes itself as “the world’s premier real estate event for professionals” bringing together the most influential players in real estate to explore major international property development projects, connect with potential partners, and strike deals over 4 intensive days.

All our apartments were full and the rentals team were at capacity, working day and night.

MIPIM is one of the major conferences each year, others being MIDEM the music industry festival in January, MIPTV in April, MILIA, the Cannes Film Festival, the Cannes Lions Advertising Festival, the Cannes Boat Show, MIPCOM, Tax Free, MAPIC and ILTM.

Go to http://www.everythingcannes.com/events.php for more details and descriptions of all the major events hosted in Cannes each year.

MIPTV

The world’s audiovisual and digital content market attracts the global movers and shakers from the world of television. It starts this weekend, running from 4th to 8th April.

2011

- Japan is struck by a 8.9 magnitude earthquake and resulting tsunami with 13m waves, nuclear reactors are devastated causing some meltdown and worldwide concern, and a total of over 27,000 people are killed or missing, the largest ever toll (by nearly 4 times) for a highly developed nation.
- Seismic political changes are happening in North Africa, the Gulf and the Middle East.
- Change of any real significance in Sub-Saharan Africa seems far less likely, although certain of its most despotic leaders must be looking nervously around their own camps for signs of trouble, and eliminating it early if reports are to be believed.
- The global economy started to pick up in the last quarter of 2010 and the risk of a double dip recession became smaller and continues to look less and less likely in 2011.
- Slow growth in Europe means interest rates will remain low for a while yet, although they are likely to start to edge upwards with inflation later in the year.
- 2011 will be full of surprises, certainly turbulent, fast moving, and probably all too exciting!

Four unusual dates: 1.1.11, 11.1.11, 1.11.11, 11.11.11, and that’s not all.

Take the last two digits of your year of birth, now add the age you will be this year, and the result will be 111 for everyone!

This year October will have 5 Sundays, 5 Mondays, and 5 Saturdays. This only occurs every 823 years.

THE FRENCH PROPERTY MARKET – (Update)

Most of us would rather invest in a market that is secure than in one that is uncertain, and we search for the best properties in this very secure market.

It’s what we do all the time.

Vicky and I have invested ourselves, then refinanced, and invested again. So like many of you we own properties here and we need them to succeed, and for the benefit of all who follow our activities in any way:

- We seek out attractive options whether for return on your investment or for pleasure, or a mixture of both, in what is a buoyant but safe and very mature market.
- Then we help you through the processes of obtaining finance and achieving possession of your new investment.
- Finally, we take care of it for you as if it were our own (if you wish us to), and administer it, and market it for rentals if that is your plan.

We are very frequently asked, “Are you there for the long term, we need to know?” The answer is “yes, we are”. We have been here nine years and everything we personally have is invested here now. This is where we have chosen to live and work.

The Time Magazine article below represents good news for those of us who have taken the plunge and invested in France, but good news also for those of you who have yet to make that decision…and it should not discourage you. On the contrary, the article should encourage those who have bought already, and give confidence to those who are still trying to make up their minds, perhaps frozen in that frustrating state of “should I” or “shouldn’t I”? It’s a big decision and fear holds us back sometimes, we miss opportunities while we hesitate, and many people have said to me “I should have”. My advice has not changed in the years we have been in Cannes – it is to make your positive decision, and “Do it”!

(For South Africans I would add, don’t count on the Rand staying strong forever, or interest rates in Europe remaining so low.)

What Recession?
Why France’s Housing Market is Soaring.
By Bruce Crumley / Paris Wednesday, Dec. 29, 2010

Score another one for l’exception française. First, France-bashers were forced to admit that the nation’s oft-criticized labor regulations, enormous state sector, and generous social-welfare system had spared the French much of the pain experienced elsewhere during the world’s economic meltdown. Later, those same factors were credited with helping France exit recession far faster than most of the rest of the world. Now the French are enjoying another piece of news likely to turn “Anglo-Saxon” critics green with envy: As real estate prices continue to slump in many other countries, the value of French homes is on the rise, with appreciation in Paris set for a whopping 20% in 2010 alone.

A new study by the Paris Chamber of Notaries (PCN) found that, unlike in countries such as the U.S., Britain, Ireland and Spain — where burst housing-price bubbles have caused values to plummet — prices for French homes already sold or contracted for sale before the end of December had increased by nearly 6% nationwide in 2010. And the PCN projects the first months of 2011 to bring similarly robust activity, which — barring any sudden pikes in interest rates — could make it as profitable to French property owners as 2010 has been.

The advances in France’s housing market over the past year were, in part, a natural adjustment after national price declined by 5.6% in 2009. But French homeowners still have more reasons to smile than most of their international counterparts. The U.S. real estate market continues to struggle from the freefall it experienced when the housing bubble exploded in 2007, with reports putting the decline in U.S. house prices at 10% this year. British homeowners saw nearly 25% of their property values evaporate in the wake of the 2007 financial crisis, and though prices have risen since, that progress has plateaued. And the Spanish and Irish real estate sectors still haven’t recovered from the utter ruination they suffered when the global financial system almost collapsed.

Back in France, however, housing investors are still loving life. The reason: price gains in 2010 pushed the median square-foot price in the capital to over $650 for the first time ever — a level that’s set to increase to $742 within a year.

“Paris is above all a classic example of a glaring shortage of supply in the face of roaring demand,” says Christian Lefebvre, president of the PCN, noting that a similar, though less severe, shortfall of around 800,000 homes is what’s lifting the real-estate market nationwide. “Annual construction targets for new units in the Paris region of 60,000 typically produce half of that,” he says.

That means the current effervescence in France isn’t due to the kinds of speculative bubbles that created so much economic damage when they popped in other countries.
But new construction — if and when it starts — will take a long time to produce habitable dwellings. Meaning, for the time being, French homeowners can look at the sorry situation their foreign counterparts are in and feel a tad smug.
Read more: http://www.time.com/time/business/article/0,8599,2039840,00.html#ixzz19sTFB3Qd

RENTALS: 2011 AND BEYOND
(From Lao at Everything Cannes)

There is no doubt that this year is looking far better than the past few years; it is already showing signs of starting to get back to 2007 levels of demand.

Many of the congresses dropped in attendance by up to 60 to 70 % in the years 2008 through 2010. We are just seeing demand beginning to rise again.

We have also as at January this year rolled out new marketing campaigns specifically targeted toward holiday and short break customers, to compliment our already strong congress campaigns. Enquiries have rocketed up. We have about 50% more enquires coming in now than we did for the same period last year, and this is a major opportunity for Property Owners who want to engage deeper in the process (see below in the section on Owners Direct Marketing).

As of today many properties are already 60% or more of the way towards last years (albeit disappointing) income figures and we are only 3 months into the year.

We are bullish. We believe the worst is over, our rentals company is strong where many others have bankrupted, and we have adjusted correctly to the new environment. Demand and prices should be rising, and I have every reason to believe that this year should be 20% to 30% improved over last year.

OWNERS DIRECT MARKETING AND SERVICE
(From Lao at Everything Cannes)

We have worked hard on, and have recently rolled out what we call the ‘Owners Direct’ service.

We have watched the market change over recent years. People are less inclined to book with an agency and are seeking to deal directly with owners. There has been an explosion in “rentals direct by owners”, and a multitude of websites catering to this trend.

We have identified, and put into place partnerships with the most important of these – some you may have heard of, and some not.
http://www.tripadvisor.com
http://www.flipkey.com
http://www.holidaylettings.co.uk
http://www.holiday-rentals.co.uk
http://www.fr2day.com
and others.

For any owner who wishes to become involved, enquires though these websites will be channelled directly to you. You will then personally respond to the enquiry and ‘close the deal’!

With our support and the information that we will provide to you, it is very easy to start taking these enquires, responding to them and (hopefully) closing a deal. Once a contact has agreed to rent your property, you simply pass their details over to us and we take care of the rest from billing, through to meeting and greeting, any necessary support, and the cleaning and laundry – all as if they were our own, direct clients.

What you are actually doing is acting as your own “sales agent”. The renter will be happy to be dealing directly with the owner, you will become more in touch with your apartment, with what we do, and you will develop closer relationships with our Rentals and Management teams here. Most importantly you will also increase your revenues (we estimate using existing data by around 20% per year) and IT JUST MIGHT BE FUN!

If you cannot, or do not want to do it, then perhaps a daughter, son, nephew, cousin or friend may like to take up the challenge for some small remuneration, or even in exchange for a week in the apartment at some time in the year!

To discuss this, and to get the ball rolling, please contact me anytime on

Email: lao@azurelive.org
Phone: + 33 4 925 925 96
Skype: laowatsonsmith

A personal note from Vicky:

This year I started to respond to enquiries for our own apartments. At first I found I had rather a lot of enquiries and very few “closings” and thought I might be wasting my time! Things have improved however, and to date I have confirmed three bookings which we would otherwise not have had. I have found it much easier to do than I thought, and as soon as I have someone who has agreed to rent, I hand over to Lao’s team, who collect the deposit, and take over the nuts and bolts of the booking. (On speaking to Lao, it seems that a 20% ‘close rate’ is normal, which is to say that only 1 in 5 enquires becomes a booking. It may even be less than that! So don’t get despondent when you don’t hear back from your first enquirers!)

AZUR ACCOM INTERIOR DESIGN

In an ongoing drive to improve our service to investors, we have entered a partnership with Mary Bakke with whom we have completed many renovations and interior designs over the last four years. She is now working with us under the Azur-Accom umbrella, and we are all excited about the new opportunities this provides for us to streamline the (perceived although not necessarily stressful) experience of renovation for the benefit of our clients.

Mary has 30 years of experience in Europe and the U. S. although most of her working life was spent in California where she specialized in developing interiors for prestigious residential, commercial and investment properties. Her experience which includes project management from the ground up embraces new construction, renovation, historic restoration, exterior living areas, kitchen and bathroom design, and the custom design of elegant furnishings. She is able to capture her clients’ vision and create design infused with ambience.

Mary has prepared a first page for the new (under construction) Azur-Accom Interior Design internet site, under the heading “Construction and Renovation – Helpful Tips”. It is jam-packed with her insights, experience and expertise, and relates particularly to working here in France, in a foreign language and with a very different culture to that which most of us are used to. There will be many more useful articles to follow.
Please visit www.azuraccominteriordesign.com

She concludes on this positive note: “The construction and/or renovation process does not need to be stressful. The goal should always be the quality of the finished project, no matter what your budget. Do your home work and you should be able to enjoy your property and/or the income there from, in a timely manner.”

Azur-Accom Interior Design might do well to adopt that or the sentiment expressed in it, as our mission statement. I will be working on the wording!

CURRENCY TRANSFERS

With currency transiting into and out of France and the Euro, it makes sense to try to make savings for our clients on those movements if we can. To that end we have recently begun to recommend the services of a professional dealer, well established in the market since 1996. We have found them to be helpful, very quick, and on transactions of anything from a few thousand Euros upwards, to save you money. They charge no commission, will fix forward contracts, and you are free to (and should) check and get quotes from your bank for comparison.

Savings can be significant.

Until very recently South Africans were unable to make use of their services which was frustrating. The impediments which all derive from international restrictions and money laundering fears have now been removed and they can offer personal international transfers, assistance with regular international payments (such as for education), assistance with people’s R4m investment allowances, applications to SARB for individuals wanting to take out more than their investment allowances, and any other currency related assistance and advice.

If you are planning to transfer money, even a few thousand Euros or Pounds equivalent from or into any currency, please get in touch and let me send you their contact details. They have offices (amongst other countries) in France, the UK, Canada, the USA and South Africa.

It’s worth looking into.

With kind regards,

Guy.

• 8m² of west facing balcony.
• 2nd and top floor.
• Aspect west.
• View of quiet street and gardens.

This is a very neat and much loved studio apartment in the heart of Palm Beach, just a couple of hundred metres from the beaches, the harbours, the shops or the Place de l’Etang. It is in and overlooks the quietest street in the whole of Cannes, because it is the only street in Cannes which is gated at both ends with an access code for residents.

The apartment on the second and top floor of a low apartment building has a separate equipped kitchen, a bathroom, and the main living room opens onto a lovely balcony. It has been beautifully looked after so there is nothing to do to it after transfer. It is in a good position for rentals, and perfect as a little pied a terre for people wanting to visit Cannes from time to time.

• Swimming pool.
• Open view of gardens and hillsides.
• 1500² of land and gardens.
• A boules (petanque) court.

The single level villa was built in the 1970’s or 1980’s and has recently been completely renovated to modern and high specs, and electric shutters have been fitted throughout, so it is described as contemporary.

It is in a very quiet residential area and street. The entrance leads to a huge, open and light living area of 50m² with an equipped open plan kitchen. There are three bedrooms with en-suite bathrooms and a guest toilet.

The garden is attractive and there is a boules court. The very spacious terrace leads onto the lovely swimming pool.

There is a spacious cellar for storage.

• Charming Bourgeois Villa from the Belle Epoch – Circa 1900.
• 300m² of garden.
• 6 bedrooms.
• 3 bathrooms.
• Aspect south and west.

I sent a photo to a very good friend of ours who knows so much more than me, and I asked her to tell me a little about what she saw. This is what she has just replied:

(Bear in mind that until 1860 this region of France was an Italian dominion. The city of Nice celebrated 150 years of being part of France last weekend and Vicky and I went through there to enjoy some of the festivities that were put on for the occasion. The point is that Italian influences are everywhere in this part of the world).

What a fabulous villa. The carving is often called a “Festoon”, which is carved out of cement, plaster or porcelain. It can be left natural, or it can also be a painted ornament usually in the form of a garland of fruit and flowers tied with a ribbon and suspended at both ends. It can also be called a “swag”, and in Italy it is often referred to as “della robbia”, from original designs made by Andrea della Robbia, and thus named after him. It is very often found on Italian villas and the design can be the “family crest” or coat of arms. They also use this design in porcelain figures, large porcelain jugs, etc. They can be left in the natural cement, or porcelain, or they can be painted bright colours.
The painting looks like a “fresco” design. There is a last layer of mortar that is placed over stucco that is called “Intanaco”, upon which a fresco is painted. Fresco is a technique of painting in which paint, usually watercolours, is applied onto fresh wet cement, stucco, plaster, or Intanaco, and the colours are absorbed into the surface.
Frescos can be painted inside or outside of a building. You often find them inside on walls and also entire ceilings painted with them in old buildings in Italy. The old frescos are really magnificent.
What a wonderful property….a real treasure. Thanks for sharing the photo with me.
Thank you Mary for your insights!

Right in the heart of the lovely suburb of Petit Juas, just 10 minutes or less on foot to the Palais des Festivals and the shops, restaurants and beaches of central Cannes is this truly beautiful villa.
It was built in approximately 1900 and used as a hotel for a part of its history, but has been a family home for many years now.

The villa is set amongst classic buildings in a classic suburb – perhaps the prettiest and certainly the most authentic suburb of Cannes. It consists of three floors, and the ground floor consists of a large and light and comfortable (and air conditioned) living room which opens onto the front terrace and garden. The old living room is a lovely dining room today, with a separate kitchen, and a guest toilet.

On the first and second floors there are three rooms and a bathroom on each level, and separate toilets.
In the basement there is a large storage area and a laundry, and another complete bathroom – useful when the house is full. Once long ago this lower level must have been servants’ quarters.

Also on the ground floor and at the back where the hotel dining room used to be is a two car garage – the dining room floors are still there!

The garden is easy-maintenance, with lovely old trees and palms and automatic watering.

This is a beautiful building, oozing with charm, just 500m from the very heart of Cannes. Look at the decoration – the mouldings, the frescoes and the intricate woodwork under the eaves! It is in beautiful condition and whilst it has preserved all the charm of the belle epoch in France, it is a comfortable modern home today.

• 6th Floor.
• Exposition east, south and west.
• View is panoramic of the whole of the Bay of Cannes. Breathtaking.
• 50 m² of terraces.
• Enormous living room.
• Three / four bedrooms.
• Equipped kitchen.

This apartment is on the 6th floor of one of the most prestigious apartment blocks, in prime position just above Cannes in the hills known as La Californie. It has everything – winter and summer swimming pool, garage and cellar, double glazing, air conditioning, round the clock guardian, beautiful gardens etc.

The current occupants have knocked out walls to make huge living and dining rooms, and most buyers would want to re-create the bedrooms that were there before. It is all easily achievable. The “fourth bedroom” is in fact a complete studio apartment right next door, included in the price. At present it is not connected, but if required it is a small matter to open a door to bring it into the apartment. Some people may prefer to leave it separate as the current owners did.

• 20m² of terrace.
• Views across the Croisette and the Bay.
• Exposition west.
• 3rd floor of 8.

This apartment is in one of the most renowned apartment buildings on the Croisette. It directly overlooks the Croisette from the 3rd floor (with gardens in between) with the Port Canto and Cannes just to the left of centre, the Bay straight ahead and the red Hills of the Estoril directly across the Bay.

The view is partially broken by the canopy of the famous and magnificent cedar trees that line the Boulevard, but to my mind the mixture of trees and sea, gardens and boats make for a more interesting and peaceful view than pure sea – that’s a subjective view of course! The trees are a lovely feature of this famous Boulevard, and will be there for ever.

It is an inheritance and the widow is still living there with an apartment over-filled with valuable art and artefacts making it almost impossible to photograph to advantage, but the apartment is very sound, with a large living room and a bedroom both opening onto the spacious terrace. The other bedroom and the kitchen open onto separate back terraces (one small terrace for each) with an attractive and unbroken view east across Palm Beach.

There are two bathrooms and a dressing room, and in the basement a garage and a cellar. The apartment has air conditioning and electric shutters and awnings.

This is a rare find on La Croisette, perhaps the most sought after addresses in France. The lady is keen to sell.

• Top floor of 4. (Lift – yes)
• Exposition north.
• View across the city.

What this little street has is position and great character. Just a few months ago I wrote about an apartment in Rue des Freres Pradignac and it sold almost immediately.

The street is named after two brothers, heroes of the Resistance who died at the hands of the Nazis, and is only two blocks long and one block removed from the Croisette, right in the centre of town, close (two minutes) to the Palais des Festivals.

It consists of early 20th century character buildings with cast iron filigree balconettes lining a tiny one-way street that almost never sees a car. Apart from deliveries it is to all intents and purposes pedestrianised. It buzzes with life and local colour issuing from the string of small cafes and restaurants that spill out onto the pavement for its entire length.

It’s a very good little street, and a very attractive position for rentals to conference delegates.

The apartment on the 4th floor (with a lift) has been renovated and includes air conditioning and double glazing. I think all existing furnishing which has been provided for the conference market could be thrown in too if required. It comprises a living room and open plan kitchen on the main floor and a bedroom and shower on the mezzanine.

• 20m² of terrace.
• Construction – Bourgeois.
• 1st and top floor.
• Aspect south.
• Views across Cannes to the sea.
• Two separate 25m² studio apartments.
• Garage.

This is a wonderful Bourgeois (late 19th century) building in Californie overlooking some of the most noble suburbs and homes of Cannes. The residence is part of a security “domaine” which comprises the main villa now divided into four apartments, and about 10 quality villas in extensive and luxurious grounds, all beautifully maintained with a high degree of discreet security. A guardian looks after the domaine.

The apartment is exceptional, and measures 150m² with a 20m² terrace, but it comes with two studio apartments and a garage and cellar.

It has been renovated to a very high standard and comprises a large entrance hall and grand living room with fireplace, which opens onto the spacious terrace with sweeping views across Cannes to the sea. It has an equipped open plan kitchen and two large and one small bedroom each with bathrooms; one bedroom opens onto a beautiful terrace.

The studios are on the ground floor and one has been renovated, the other requires some renovation. Both have kitchen and bathroom, and both are suitable for rental if that is an attractive option. They are not connected to each other, or to the main apartment.

• Front faces west and south.
• View – unbroken over the attractive suburb of Petit Juas from the top apartment.
• View broken by buildings from the lower floors.
• Small 6m² balconies off the two upper floors.
• Garden terraces off the two lower floors.
• Exactly 800m on foot to the Palais des Festivals.

3 bedroom duplex apartment with balcony. 91.41m² loi carrez*.
2 bedroom apartment with balcony. 61.85m² loi carrez*.
2 bedroom apartment with garden terrace. 63.4m² loi carrez*.
Studio basement apartment with terrace. 33.95m² loi carrez*.

*”loi carrez” is the legal interior covered surface area after deducting any area occupied by walls, partitions, steps and staircases, panelling or encasing, door openings and window recesses. Surface area with headroom of less than 1.8m is not included in the loi carrez.

Petit Juas is a quaint and old suburb on the hill overlooking Cannes from the north west. It is on the opposing hill to La Californie which overlooks Cannes from the north east. Behind Petit Juas one climbs further into the hills and into the exclusive suburb of La Croix des Gardes.

Petit Juas is made up of little streets, many of them one way, and gorgeous houses which are proudly looked after and preserved. It is more “French” than La Californie and La Croix des Gardes which had a lot of foreign (English and American) influence a century and more ago, and some huge and wonderful villas and residences.

Petit Juas is less imposing, and for this reason it is an up-and-coming suburb in Cannes. There is a great deal of building and renovation taking place and the character of the suburb is largely respected. We have seen values rise considerably in the area because it is very much in demand.

A lot of young people live there because it is “vibey” and affordable, and very close to Cannes, considerably closer than our own suburb of Palm Beach in fact.

This “villa” or block of four apartments was constructed in the first half of the 20th century and the young owners live on the top floor. The building is on a small plot of land on a fairly steep hill, which is typical of the area. There is no allocated parking, so street parking is at this stage the only option. The entrance to the building from the street is through a gate at the back of the house – the east side.

It is semi-detached, adjoining the house next door on the southern side – the west, north and east walls are not attached to another building.

The top (first) floor is a lovely, spacious, light and bright apartment and the owners have made a very comfortable home there. The three floors below are not inhabited and the owner has been renovating slowly, with limited results. All would benefit from a degree of thought and attention.

• Entrance hall.
• Living room.
• Kitchen.
• 3 Bedrooms.
• Bathroom.
• Separate toilet.
• Shower room.
• Storage room.
• Balcony facing south west.

The upper ground floor is a two bedroom apartment with a balcony facing south west.

• Entrance.
• Living room.
• Kitchen.
• 2 Bedrooms.
• Bathroom.
• Shower room.
• Separate toilet.
• Balcony.

The lower ground floor is a two bedroom apartment which opens onto a 60m² garden terrace with established trees, palm trees and lawn.

• Entrance.
• Living room.
• Kitchen.
• 2 Bedrooms.
• Bathroom.
• Separate toilet.
• Garden terrace.

The basement is a large studio apartment with a sleeping alcove separate to the living room. It opens onto a front garden also with trees and lawns.

• Living room.
• Kitchen.
• Alcove.
• Shower room and toilet.
• Garden terrace.

• 90m² of terrace, south and west.
• Views unimpeded across the Bay of Cannes and the red Esterel Hills in the west.
• 4th floor of 5.

Croix des Gardes is a prestigious and historic suburb just to the north west of Cannes, looking south over the Bay from the Isles de Lerins to the Esterel Hills in the west. It is a suburb of prime villas and apartments some dating back to the earliest developments in the late 1800’s and some thoroughly modern, all of the highest quality.

This superb residential block is beautifully maintained, with a permanent guardian of course, and the apartment in question is high on the 4th floor of a block of five floors. The impression one has is of greater height than four floors because of the fact that the ground falls away in front, quite steeply, to the beaches five minutes below, and Cannes which is to the left (or east) of centre. There is a swimming pool and tennis court for residents.

The apartment comprises a double living room and the south east corner of the building, with a large office with wonderful views (or it can be a bedroom again if preferred), two large separate bedrooms, three bathrooms, dressing room, large and very useful laundry – and a lovely equipped kitchen, with glorious views, opening directly onto the wide and private terrace. The apartment is immaculate.

The terrace runs the entire lengths of the apartment on the western side and the southern side, and is wide, spacious and the views from every angle are stupendous.

There is a garage and a cellar in the basement and ample parking for guests inside the security domaine of the residence.

• Construction – 1930.
• Extensive terraces on differing levels.
• 110m² of garden.
• Exposition south and east.

This villa is in a line of a few beautifully constructed stone villas built at the same time, in the 1930’s. The little suburb of Montrose sits just to the west of La Californie and between Cannes and Le Cannet. It’s a lovely and quiet residential area, close to the centre and much sought after by the Cannois (the people of Cannes).

The villa itself has been beautifully renovated over years to a very high standard, with much love and great care. The result is exhilarating, light and spacious. (Vicky fell in love at first sight!)
It is composed of a double living room with fireplace, a dining room and a lovely open plan kitchen on the middle floor. All of this opens onto a charming, quiet and protected terrace overlooking the garden. There is also a separate T.V. room.

On the upper level is the large master bedroom with a lovely bathroom. The bedroom also opens onto its own private “tropézienne” or secluded terrace. The second bedroom is lovely too, with its own shower and an office which could be a single bedroom if required.

On the garden level there are two bedrooms sharing a bathroom, a laundry room and a kitchenette meaning that this level can be self contained if required, or part of the main house. The option is there. This level opens onto the private garden.

• 170m² of garden and driveway.
• Ground floor of a superior 4 floor block.
• Aspect – west.
• Views of the garden.
• 4 Cellars (yes, four! I don’t know why).
• A garage in the basement of the building.

The apartment in the heart of Palm Beach peninsula is just a stones throw from the village and shops, the beaches east and west, and the Croisette. It has position. It has also been very recently renovated to a high standard, with a lovely big living room opening onto a deck in the garden and air conditioning. There are two bedrooms and two bathrooms and a very modern and fully equipped kitchen.

The apartment traverses the ground floor and the garden wraps around from west, to north and east, and both bedrooms also open onto it. The garden is simply and economically designed to be clean and easy to look after. There is a garden gate so it is quite possible to drive many cars into the premises if required. One has an overriding impression of being in a villa, or a house and not an apartment.

The building was constructed in 1965 and is very sound, clean and looked after with a full time guardian.

• 3000m² of land.
• Aspect south.
• Views of the countryside and village.
• Stone construction – 1975.
• Swimming pool.
• Pool house.
• Independent apartment.
• Double garage.
• Parking for 8 cars.

This is a lovely villa built of quality materials in the 70’s. It has been upgraded, renovated and loved, and has all the additional amenities one would expect such as electric shutters and blinds, automatic gates etc.

The villa feels spacious with large volumes – it comprises an entrance hall and large living and dining room with fire place, and an office on a mezzanine with access to a terrace. There is an independent equipped kitchen, and three bedrooms each with bathroom en-suite. A large terrace leads onto the pool, and there is a pool house with shower (and possibilities for an extra apartment or summer kitchen), and an independent studio apartment with its own entrance.

The well maintained garden has established and lovely trees, and there is a double garage and parking for about 8 cars if required.

This villa should be seen.

• 1200m² of land
• Spacious gardens and pool
• Aspect south west.
• Fabulous views over Cap d’Antibes and the sea.
• General condition excellent

Cap d’Antibes is just about the most beautiful and exclusive “Cap” on the Riviera and along with St-Jean-Cap-Ferrat is some the most sought after real estate on the planet. The Cap is remarkably well wooded in spite of the demands placed upon it by humans, and this atypical “bastide” measuring 300m² on the inside is beautifully situated amongst the greenery with fabulous views of the sea.

The villa was built in 1982 and now sits amongst 1200m² of established and natural garden.

On the ground floor are a vast living room and dining room, a fully equipped modern independent kitchen, and two of the bedrooms. On the first floor there are two bedrooms with dressing rooms. On the lowest level there are two more bedrooms. All six bedrooms have bathrooms or shower rooms en-suite and ample cupboard space and / or dressing rooms attached.

Also on the lower level is a laundry and a cellar, and there are numerous outbuildings and garages.

On the top floor the XVII century floor absolutely has to be seen!

• 1,670m² of land
• Spacious gardens and pool.
• Set amongst ancient olive groves.
• Aspect south.
• Fabulous views over Golfe Juan, and to the east, the snowy Alps.
• General condition excellent.

This villa delivers absolute tranquillity in the prestigious suburb of Super Cannes looking south over Vallauris and Golfe Juan to the sea. However to the east the spectacular perennial snows of the Alps rise above the coastline which is visible to Nice and beyond.

In addition to the 196m² of villa there are 70m² of outbuildings.

On the ground floor of the villa is a lovely double living room with fireplace and separate kitchen. Also two bedrooms with bathrooms all opening onto the terrace

On the first floor are two bedrooms (one with dressing room) with bathrooms, a study, and a solarium. All windows are double glazed.

There is a double garage and ample parking, and of course a swimming pool with a barbecue and magnificent views set amongst the ancient olive groves.

Pure investment properties. Those that you and I might not necessarily buy for ourselves and our friends and family, but wish to own as income generating units that have the ability to increase in capital value too.
Personal properties and second homes. Others of you ask us to source property or help you navigate the paper trails for the acquisition of properties that you wish to keep as second or holiday homes. Here you would generally be less interested in rental prospects and more in the potential for capital appreciation, and your own enjoyment and use.

As far as investment property is concerned, all the investment intelligence we have gathered points us at Cannes. Consequently most of the 100 or so apartments we have bought for investors are within a stones throw of La Croisette (Cannes’ famous frontal promenade), and within 15 minutes walk of the Palais des Festivals, the main conference facility.

For those who want a home or a second home on the French Riviera, there is no need to explain – you already know why you want to be on the most sought after and exclusive coast in the world. You’ve done your homework.

With rental properties in mind:

We saw very little chance of covering mortgages from summer and occasional out of season rents. We had to be able to offer accommodation to festival and conference delegates. Hosting delegates and business people is big business in Cannes, and accommodation can be difficult, especially for those who don’t feel comfortable speaking French. Also surprisingly the service and backup offered is generally shoddy, so with a little Southern African attention to detail, we have found that our customers and guests are generally delighted.

We are very comfortable with our present business model where most of our investors, many of whom are close friends or family, enjoy complete ownership of their own property or properties. Interestingly though quite a number of investors have got together with family or close friends and bought a little “team project” to start with. Individual (or team) owners can enjoy their investment from time to time, while renting when they are not in residence if they wish, they can sell their property when they are ready to, or roll over into a bigger investment and do it all again. The freedom to choose is theirs.

The rental business is a snowball and as we have been doing it for nine years now we continue to see steadily increasing numbers of repeat visits and people coming to us because we have been recommended to them. It has taken time and we continue to do all we can to speed it up still further.

Who are we and what do we all do?

Guy and Vicky – communicate with you, the investor or potential investor, and many property agents in order to find the best value properties possible. We look at hundreds of them, year round. When we locate a good property we try to match it to the needs of those who are waiting and wanting to buy, or we put the details of the property out in a letter for those who are on the “Property Letter” mailing list to consider. Once someone has decided to make an offer we will negotiate on their behalf, agree a price with the seller if possible, and then sign an agreement. Then we help the buyer through the bureaucratic landscape of agents and notaries, through the loan application process, to the signing and transfer of ownership into their name. Some apartments need renovation, furnishing and decoration. We obtain quotes for the work from reliable firms that we regularly employ, and liaise with the new owners about plans and costs. In other words we facilitate a turnkey solution even for investors who never come to France, and many have not yet been.

Lao (our son) – is in charge of the marketing of the apartments for rental and Lizzie, Lene and Sarah are at his right hand taking bookings and dealing with requests as they come in. He built the Azur-Online and Everything Cannes rental websites and I urge you to have a look at them. He adjusts and changes aspects of them most days to keep them up to date and they appear on the first page of most search engines such as Google. He forges marketing partnerships with other organizations where it will benefit our investors and controls the servicing and cleaning of the apartments, the meeting and greeting of guests, and the day to day running of them.

Vicky – with her vast experience is in charge of the accounts, producing statements (balancing to the bank statement) for every owner each month, and keeping it all in line with French regulations. Our management company Azur-Accom is a registered French Company, and subject to French laws. We administer our investors’ affairs in France from banking and necessary payments to the electricity and water suppliers, bodies corporate for levies, insurance providers, and local government for rates and local taxes. We also take care of annual French income tax returns, as well as attending to minor and major maintenance issues as they arise – all this of course only for those who wish us to do it for them.

Vicky also works closely with a very talented decorator who does an impressive job within the budget she is given to create a home away from home, or a comfortable and clean working rental unit, by furnishing and decorating with skill, care and originality. She is a professional with real understanding of the costs, and the financial constraints of investors, and yet manages to create something original and lovely every time.

On capital appreciation:

We have experienced an increase in property values along the Cote d’Azur and in Cannes in particular, of between 12 and 20% per annum over the last eight years. We have been able to measure this personally, and our own records are consistent with regional and national statistics. Of course the recession of 2008 and 2009 were a worrying time but the market started to pick up again in the spring of 2010 and has slowly improved again since.

Please contact us for up to date information and market statistics?

This is an exciting part of Europe, and whereas we all know that past performance is not necessarily a reflection of future performance, the French Riviera has been a “Star” in Europe for well over 120 years, and there is no doubt that you can not put a price on sunshine and fabulous weather. Importantly however, the contrast with other heavily marketed “sunshine spots” in Europe in terms of exclusiveness, cleanliness, environment, planning, history, culture, services, food and wine, and the list goes on…..is huge. We are so much better!

France receives more visitors than any other country in the world! (Fact)
We are convinced that the French Riviera and Cannes in particular are the right place for us to be focusing our investment energies. This is the place to be, the place to own property, and very many agree, which makes Nice (our local) the busiest airport in France after Paris’ Charles de Gaulle.

Quote from TIME Magazine 29th December 2010:
Score another one for l’exception française. First, France-bashers were forced to admit that the nation’s oft-criticized labor regulations, enormous state sector, and generous social-welfare system had spared the French much of the pain experienced elsewhere during the world’s economic meltdown. Later, those same factors were credited with helping France exit recession far faster than most of the rest of the world. Now the French are enjoying another piece of news likely to turn “Anglo-Saxon” critics green with envy: As real estate prices continue to slump in many other countries, the value of French homes is on the rise….

A new study by the Paris Chamber of Notaries (PCN) found that, unlike in countries such as the U.S., Britain, Ireland and Spain — where burst housing-price bubbles have caused values to plummet — prices for French homes already sold or contracted for sale before the end of December had increased by nearly 6% nationwide in 2010. The predicted rise ranges from 10% in the suburbs surrounding Paris to 20% in the capital. And the PCN projects the first months of next year to bring similarly robust activity, which — barring any sudden pikes in interest rates — could make 2011 as profitable to French property owners as 2010 has been

Financing:

When we started in 2002 we were borrowing at 4.1%.
In 2005 rates dropped as low as 2.75%.
They rose briefly but today standard mortgage rates are down in the very low 2’s.

A very attractive characteristic of the standard mortgage is that once the monthly repayment has been calculated it does not change irrespective of what happens, making budgeting very easy. If rates change it is the duration of the loan that varies upwards or down by a few months, and not the monthly commitment. It is also normal to “cap” rate increases.

There is great flexibility with regard to early repayment of loans after a short initial period, transforming them into different types of loan, revaluing, re-mortgaging, and rolling over and upgrading. Many of our investors are now enjoying the benefits of this flexibility as new and innovative products are introduced. The financial sector in France is modernizing, becoming more competitive, and increasingly customer-friendly at a rapid rate.

Borrowing at 2 or 3%, capping it at 5%, partly self financing through rentals, and reaping a 12% capital growth has proved to be an attractive and profitable investment option for many. Will it continue? France, particularly the most valuable areas of France (the Riviera being top amongst them) was considerably less affected than the UK and the USA by the recession of 2007 – 2009, and there is no reason why it should not.

This ever-popular region is most likely to remain so for many good reasons.

How much do you need to start investing?

Some people choose to buy an apartment outright, some to seek finance, and some share an apartment with friends or family members. We are still able to find smaller investment properties for under 180 000€, but the average for a one bedroom apartment now is between 280 000€ and 330 000€. A typical investment looks like this:
Cost of apartment – 250 000€ (always includes agent’s fee)
Deposit (50%)                                                    125 000€
Transfer Duty (+/_ 6.5%)                                  16 250€
Our consultancy fee (2.5%)                                 6 250€
Some renovations (not always required)      10 000€
Furnishing (not always required)                   12 000€
Total investment                                                169 500€

The investment may be less if the mortgage is higher.

Where more significant refurbishments are required the bank may finance part of those improvements if the buyer wishes.

Why is property good?

Here are a few thoughts:
You don’t need the entire purchase price in cash to buy the property you want.
You can buy property worth far more than you are paying for (using the bank’s money).
You can often increase the value of the property you buy significantly without spending much on it. (Forced appreciation by way of simple improvements).
You don’t have to sell the property to reap the benefits of your growth. (Re-mortgaging or refinancing – further leverage).
You don’t have to monitor your properties closely from day to day because the market is not volatile. (As the stock market is).
Property prices tend to increase smoothly and consistently. (Natural appreciation).
Property has exceptional and privileged tax advantages.
Fluctuations of any one property’s value relative to the average for any area are very slight. (20 square meters in Adderley Street is likely to be priced similarly to any other 20 square meters in Adderley Street)
It is not difficult to locate a geographical area or region or city where you are going to do better than the national average.
It is a relatively simple, reliable and consistent investment, with great cash and wealth building potential. (From rentals and capital appreciation respectively).

Why France?
Financial Mail – “If you really want to get out of rands and into property, go to Euroland. French property for instance, is going at bargain prices.”
There is an increase in demand for rental property combined with a decrease in supply. For this reason the French Government have instituted schemes designed to encourage supply.
Many millions of tourists visit France each year – more than visit any other country in the world. This is not a passing phenomenon, and with new improved and cheaper transport links, the demand for self catering accommodation in France continues to grow.
Easyjet, Ryanair and others offer Nice-Paris for €22, and London, Bristol, Frankfurt, Geneva, Stockholm connections for similarly ludicrous prices. Low cost airlines are certainly sustaining demand for property in France.

And why specifically the Cote de Azur?
It is a fact of Europe today that people are demanding more and more access to sunshine and to privacy, wherever they may live and work.

The Cote d’Azur has superb beaches, a beautiful sea, a stunning backdrop of mountains and snow, and quaint and ancient villages boasting fabulous cuisine. It is only an hour and a half by car to some of France’s famous ski slopes. What is not so well known is that 1.8 million business trips are made to the Cote d’Azur each year. There are year round congresses, conventions and trade fairs, and over 200 national and international professional events. The development and infrastructure to cope with this growth has been put in place over the last 50 years, and continues to improve. Cannes is undoubtedly the centre of it all.

Management:
There are so many facets to property management that it is clear that one needs first class and full time management on the ground, and we are geared to provide that.

In addition we are established as major players in property rental in Cannes, offering guests an excellent service, and our owners significant and pleasing returns on their investments. Those have been and remain our aims and objective.

Tailpiece:

A little place in the country: Quite a number of people – mostly from Southern Africa – are asking if the notion of finding a little inexpensive place with work to be done to it is a possibility. In other words; “Can I find somewhere cheap, cheerful and charming, do it up, and live in France?”

This is a difficult one to answer because “yes” anything is possible; however there are some “ifs and buts” that spring to mind:
At least one spouse should have a British or UK passport without which it is very difficult to get residence and work permits. However if just one of you has it, then it’s very simple for all the family to have residence in France.
Once you have a property and assuming you don’t have an E.U. passport in the family, it is possible to apply for long term (3 to 5 year) visas. It remains an application not a right, but the application will be viewed very sympathetically.
The Cote d’Azur (the French Riviera) is not the cheapest part of France to buy in. It is the best place to live (in the opinion of many); it has the warmest climate, and it is safe. However it is also popular, and therefore very sought after.
If you plan to seek employment, an isolated village although charming might not be practical. If you don’t plan to work, and you plan to have a car, then the remote options are available.

• Spacious gardens and pool.
• Neo-Provencal (traditional) style.
• Construction 1990.
• Aspect south.
• Land area 800m²
• View over Cannes to the sea.
• Separate one bedroom apartment.
• General condition – excellent.
• The villa is constructed in the provencale style and to high specifications.

The main house is on two levels with an extensive garden, terraces and swimming pool. On the lower floor the entrance leads into a large living room and dining area with a lovely working fireplace. The living room opens south and west to two spacious terraces with lovely sea views.

The west terrace is covered and shaded with a barbecue and makes for a very attractive and sheltered outdoor living and eating area. Also on the lower floor is a fully equipped modern kitchen.

A staircase leads to the top floor which comprises three bedrooms, the main one having a bathroom en-suite, dressing room, and a terrace with sea views. There are two spacious secondary bedrooms, and a shower room and toilet.

At garden level there is a 60m² one bedroom (with dressing room) apartment with its own shower, toilet, kitchen and living room. It opens onto the swimming pool and garden, and is or can be independent from the main house if required.

There is a wooden lockable garden shed, garages for up to 4 cars, guest parking, and the established gardens are equipped with automatic watering. In the charming back garden is an old stone well and grotto which are part of an ancient monastery.

This property has a great deal of charm and is in perfect condition. It is less than 20 minutes from Nice International Airport, and sits directly between Cannes and the historic Old Towns of Mougins and Grasse. It is close to the A8 motorway, although the motorway is not visible, and as it is well above the motorway, and shrouded in thick and well established greenery, hedges and gardens, the sound of the motorway is not obtrusive.

The house itself is entirely double glazed and all rooms are air conditioned.

• Fully restored.
• 12m² of top floor terrace.
• Aspect – east.
• Panoramic view across the Old Town and valleys to snow capped mountains.
• Style – original stone house.

This charming village house on four levels is in the heart of the Mediaeval Old Walled Town of Mougins. It is one of the most famous and adored traditional hilltop Provencal villages that ranks with St Paul, Eze and a select few others. Mougins is particularly famed for its exceptional gastronomic restaurants, and galleries.

The house is located in a quiet pedestrian street at the heart of the town, two minutes walk to excellent restaurants, bars, shops and galleries. It is only a short drive down to the beaches of Cannes and the Croisette, 25 minutes to Nice airport, and 10 minutes to three of the best known golf courses on the Cote d’Azur. Italy, Monaco and world class ski resorts are all within easy access.

The house has been carefully restored to retain all of its original charm, but equipped with up to date fixtures and equipment to meet every need of modern life. The original wooden beams, stone walls and Provencal terracotta floors have been carefully preserved.

The narrow street is quiet and without any bars or restaurants although they are only a couple of minutes away. Free parking is available in the village car parks.
On the lower ground floor is a lovely big living room with an open fireplace.

On the ground floor is a twin bedroom with shower and toilet en-suite.
On the first floor is a double bedroom with a luxury bathroom and toilet.
On the second floor are a spacious modern kitchen and a dining area opening directly onto the sunny terrace which is spacious and begs to be used for as many meals as the weather permits.

The view is spectacular and very French! The rooftops of the Old Town fall way to the rolling valleys and hills, and beyond are the snowy peaks of the mountains.

The owner has run a website and has achieved holiday rentals from delighted guests to the value of 18 779€ in 2008, 13 370€ in 2007, and 17 975€ in 2006. So holiday rentals are a very real option.

• Looks east, south and west.
• View of the suburb and sea.
• 3rd Floor of 6.
• 20m² of terrace.

Right in the heart of the popular suburb of Basse Californie this two bedroom apartment has an east, south and west view across buildings and gardens to the sea. It is in an excellent building of quality, with well maintained gardens and a guardian.

It has a very good terrace at the front onto which the living room and main bedroom both open, and a smaller one off the second bedroom. There is a garage in the basement, and a cellar. Additional parking for residents is communal.

The apartment needs renovation. It comprises a very spacious main living room opening onto the terrace, a bathroom with toilet, and a separate toilet for guests. The space and structure is such that it is a fairly simple matter to create a second bathroom.

The kitchen requires remodelling and could become open plan increasing the living space. It already has electric shutters, double glazing and air conditioning which is useful in containing the cost of the renovation.

Basse Californie is a very good and desirable residential suburb just east of Palm Beach. It is a short walk to the beaches and an even shorter walk to shops, patisserie etc. It is just too far away from the centre of Cannes for conference rentals, so would need to be rented out on an annual basis to a young person or a couple.

There is real demand for affordable accommodation close to Cannes and in such a good building and with excellent position this apartment will rent well. However it was before, and could again be a wonderful second home just minutes from the beaches and the centre of Cannes.

• Balconettes.
• Aspect east and west.
• View of the tree lined boulevard.
• 2nd floor of 4.
• Large cellar in the basement.
• Old servants quarters / storage area on the top floor.

Boulevard Carnot is a wide and wonderful architectural gem which forms the main entrance to Cannes and terminates close to the railway station, a short walk from the Palais des Festivals and the Old Port of Cannes.

This apartment on the eastern side and looking west is in a beautiful 1900 bourgeois building with high ceilings, on the 2nd floor – fully renovated and sold partially furnished.

The sellers are a young family who have made a superb job of renovating over 15 years, and are themselves moving just around the corner because they love the area and the situation. Their reason for moving has to do with the age and lack of mobility of Madame’s mother who can no longer handle the stairs.

The apartment is less than 500m on foot to the Palais des festivals and is in an excellent position for conference rentals. It is also ideally suited as a second or holiday home, or lock-up-and-go.

The large light entrance hall leads into the living room with high double glass doors leading onto traditional balconettes on the western side of the apartment.

The living room also has a period fireplace which is in working order. The main bedroom is also on the front side with high glass doors. The second bedroom looks east across a treed square and other period buildings which make up the neighbourhood.

There is one bathroom and an independent toilet, and a lovely and fully equipped Provencal kitchen with a view east – through trees and beautiful classic buildings.

• Exposition east and west.
• Views of the heart of Cannes.
• 2nd floor.

This apartment is exceptional in so many ways – firstly in its sheer size! This position, just a few metres from the famous Croisette, virtually across the road from the red carpeted steps of the Palais des Festivals, and a stone’s throw (literally) from France’s second most renowned shopping street the Rue d’Antibes, is gold dust.

The magnificent apartment with high ceilings, and in a classic Bourgeois building, traverses it from east to west allowing a through passage of air.

It is full of character and comprises a vast living room which opens onto small balconies, a beautiful light kitchen which you can live and entertain in, three large bedrooms, one with bathroom en-suite, and the other two sharing with a separate toilet.

There is a storage room in the apartment, ample cupboards, and it is sold with an additional and independent room and a large cellar.

• 10m² enclosed veranda / terrace adding to the living space.
• Exposition north and west.
• View across a school and the suburb of Basse Californie.
• 3rd floor of 5.
• Garage in the basement.
• Cellar in the basement.

A great studio for the rental market in Cannes – situated just 200m from the beaches of the Croisette it suits either short or long term rentals.

The apartment on the 3rd floor of a good building looks out unobstructed across a very open view of the pleasant suburb of Basse Californie.

It has a living room with a Provencal open plan kitchen, and a shower and toilet. But it also has a large terrace which has been glassed in adding significantly to the useable living space, and making a comfortable studio apartment into a large and comfortable studio apartment.

It is double glazed, fully furnished, fully equipped, and comes with a garage in the basement and a cellar. A garage in this part of town has real value and can be sold separately (if desired) as it is a separate “lot” on the title deed.

There is a tenant in the apartment paying a regular monthly rental and it is the buyer’s choice as to whether he stays or goes, but if it seems interesting to take over a “going concern” then we would recommend keeping him as he pays well.

• 3 000m² of beautiful gardens.
• Separate guest house.
• Separate guardian’s accommodation.

This is a beautiful property. It nestles on the slopes above the hamlet of Auribeau sur Siagne. The river Siagne runs through the village, just two minutes down the hill from the “mas”. One presumes it once was a “mas” or farmhouse, but it may have been an inn. Original stone floors, walls and wooden beams are part of the charm today, all lovingly restored and made comfortable over many years.

For those who do not know it, Auribeau is wonderfully situated just 20 minutes from the centre of Cannes (Vicky and I drove down from there in 20 minutes during working hours just the other day). To be more precise, Cannes is 13km away, Nice airport is 30km, Grasse is 8km, Mougins is 7km, and Valbonne is 13km. How much more centrally located can one get than that?

The main house comprises an entrance hall with a lovely stone fireplace, a double living room with a mezzanine or open gallery which is currently used as an office, dining room, lovely kitchen and a guest toilet. The master bedroom had an en-suite bathroom and a dressing room, and a second double bedroom also has its own bathroom en-suite.

There is an adjoining two roomed flat which is part of the house, but has its own entrance if it is required to be separated. There is a marvellous deep wine cellar cut into the rock, and a laundry.

The guest house is separated from the main house by a lovely small stretch of garden with centuries old olive trees, and a pond and trickling fountain and water feature complete with giant multi coloured “koi” fish. It is in identical style to the main house and comprises a living room and two double bedrooms with bathrooms.

The guest house overlooks the pool.
The caretakers’ house comprises a sitting room and kitchen with two bedrooms sharing a bathroom.
The villa and guest and caretakers houses are very efficiently oil centrally heated with a recently installed unit.
The glorious sunny swimming pool is heated, and has an efficiently retractable cover.
The gates are electric and the lovely garden is served by an automatic watering system.

A word on running a home such as this as a second home.
The first thing to remember is that many have done it before you – and do it all the time!

Accommodation can be offered to a caretaker or a caretaking couple in exchange for certain responsibilities such as a few hours of gardening per week and pool and general light maintenance – the villa is so close to the major centres of Cannes and Grasse that commuting to work for one or both of the caretaking couple is no impediment.

The current owner has professional landscapers in twice a year for two or three days to do the heavy work of trimming back excess foliage and lower palm fronds, and top dressing of lawns and gardens. You can see from the photographs that the system works!

An Early 19th Century Mas in Provence.
Renovation in Progress.

An Overview:
This lovely property belongs to very good (French) friends of ours who bought it two years ago for themselves. A huge amount of love and work have already gone into it and 80% of the renovation of what was a ruin is complete. Circumstances have changed, they are both working in Cannes, and it is just a little too far for commuting daily, so they are selling at what can only be described as a very attractive price.

The house takes its name from the “Domaine Grande Bastide” of which it once was a part, and with whom it now shares a common boundary. The Domaine is a well known producer of fine Vins de Provence in the Department of the Var and is now owned by Danish people. One can (and we did) buy their wines and fine Provencal preserves and tapinades etc. in the beautifully appointed “farm shop” just down the road. (One can take one’s own container and buy their wines in bulk too, at €1.50 per litre!) Please have a look at their website

The earliest written record of the house is a sub-division registered in 1880, but it is believed the house was built in about 1820. The setting in the middle of vineyards and with an uninterrupted view of the twin mediaeval villages of Tourettes and Fayence on their opposing hilltops; this is true Provence. A third well known and much visited hilltop town is just a few kilometres east and also visible from the villa – this is the village of Montauroux.

As a result of the 1880 sub division, the house was split and the two halves back onto each other today. The other half is occupied by a family and looks in the opposite direction; there are no windows or communication by sight from one to the other and separate entrances and driveways. One is not aware of neighbours.

Tourettes is just 40 minutes from Cannes, 30 minutes from St Raphael and 50 minutes from St Tropez. It is also only half an hour from the Gorges du Verdon a river canyon that is considered by many to be Europe’s most beautiful. It is the world’s second and Europe’s largest gorge, 25 kilometres in length and up to 700 meters deep with the startling turquoise-green Verdon River snaking through the base of it.

For golfers – The “Domaine de Terre Blanche” which includes a Four Seasons Resort and Spa and two famous golf courses including the Terre Blanch Golf Club, is just 4km from La Grande Bastide – on the doorstep, almost literally. This is what the website has to say:

“Terre Blanche: Provence and the Cote D’Azur have always been an essential part of any grand tour of Europe. Straddling these two great regions of France, Terre Blanche Golf Club is now an essential part of any golfer’s grand tour. The Chateau and Rioux championship courses are classical undulating woodland layouts, guaranteed to test and probe every department of your game. After the golf, the onsite Four Seasons Resort Provence provides a full range of luxury facilities to soothe the body and satisfy the appetite. Just a short drive from Terre Blanche and the Four Seasons resort are the cities of Cannes and Nice, and a host of other top-quality golf courses.”

Here are two sites to look at:
http://golftravel.about.com/od/europeandestinations/ss/europe-10_9.htm
http://www.fourseasons.com/provence/

Now, to the property itself:

• On 3600m² of land.
• A large terrace off each of the two main bedrooms (40m²).
• An office area or boudoir.
• Large open and light living room.
• Large modern kitchen.
• Swimming pool (15m x 6.5m)

In addition:

The total area of land is 6600m². The property is partitioned, and the other 3000m² is in front of the 3600m² contained in the offer. It is “inconstructible” and as such has absolutely no use to the seller now or in the future. I believe that it could quite easily become part of the sale. It would make for a very large garden!

I have in front of me the “permis de construction” from the “Mairie de Tourettes” authorising 1) the current work on the house, 2) a “pool house” of surface dimension 8m x 5.6m and double storey and 3) a two-car garage.

The “pool house” as it is planned entails a utility room for swimming pool filter and storage below ground, an entertainment area and summer kitchen on ground level, and a one bedroom guest apartment on the first floor.

The house has been renovated to a high standard. All windows and doors have been designed and created to allow maximum light into the building while respecting the original and governing stonework. All windows and doors are double glazed and all slide back into the walls and therefore open to their fullest width. The electrics and plumbing have been completely renewed and many plug points provided, internet access in every room has also been provided for (as have speakers and music, and television). The kitchen has been planned to be equipped with every appliance a modern kitchen might require.

The ground floor is entered from a main door on the side wall or through two very big double sliding doors on the front wall. The main room is the very light and spacious living room, beyond which is the kitchen which has a door onto a back (and entirely sheltered) patio. Part of this terrace is covered by the first floor terrace, and the plan of the seller is to equip it with a summer kitchen or barbecue and to enjoy outdoor meals in all seasons.

The first floor comprises the office area on the landing, two bedrooms and two bathrooms. The main first floor bedroom opens onto a sheltered terrace with a wrought iron balustrade.

The second floor is the magnificent main bedroom and bathroom (and living room) with an enormous terrace plumbed to accommodate a Jacuzzi.

Is the pleasant residential suburb which rises towards the hills from the centre of Cannes, but is so close as to be nearer to the centre of Cannes than Palm Beach. The map will show you how close it actually is – a very easy walk to town.

For investors needing rental income it is popular for holiday or longer term lets rather than conference rentals, but it is also very popular, being so close to the centre of town, with those wishing to own a home or second home. As “pied à terre” in Cannes it would be hard to beat.

The little suburb of Montrose sits just to the west of La Californie and between Cannes and Le Cannet. It’s a lovely, green and quiet residential area, very close to the centre and much sought after by the Cannois (the people of Cannes).

The setting of Golfe Juan just five kms east of Cannes, and 3 kms from Juan les Pins and the Cap d’Antibes is magnificent. The panoramic views of the Bay of Cannes, the Iles de Lerins and the Esterel Mountains are exceptional, and the shoreline breathtakingly picturesque.

In the heart of the village is Quai St. Pierre where the fishing boats still come in each morning with their catch which is laid out for locals to buy fresh while the fishermen repair their nets by hand seated on stools on the pier.

Just across the breakwater, Port Camille Rayon is home to many of the most fabulous super-yachts on the seas – to wander amongst them is to drool and be amazed.

Lining the Quai St Pierre and Port Camille Rayon are many wonderful restaurants, all tumbling onto the waterside when the weather is good (which is most of the time). Fish and Provencal specialities of course top the bill, but some of the best Italian food this side of the border is also available on the Port. Prices are reasonable, and more affordable than in Cannes or Juan les Pins, although for really fine dining two of the region’s most renowned restaurants, “Tetou” and “Nounou” overlook Golfe Juan’s popular and public beach. They have been there for generations are well worth the treat if one ever has the opportunity.

Golfe Juan is twinned with Vallauris whose name is synonymous with pottery. The origins go back to artisans from Genoa who discovered the fine pottery clay in the surrounding forests in the XVIth century, and the industry has flourished here ever since.

Picasso took a great interest in painted decorations on earthenware and supported and sponsored a great revival of this village while he was alive. Today many of his works are exhibited in the Ceramics Museum, the Modern Art Museum and the Picasso Museum just down the road in Antibes. Today there are 200 master potters working in Vallauris and Golfe Juan.

Every year in February Golfe Juan celebrates the “Fete Napoleon” over an entire weekend of festivity and recreation, period clothing and camping on the beaches, cannon rolls and marching bands. It is to commemorate Napoleon’s landing in this port and on these beaches on his return to France after exile in Elba on March 1st 1815. Here he gathered his troops and set off via Cannes and Grasse along what we know today as the “Route Napoleon” to Paris, to reclaim his throne. As far as Golfe Juan is concerned, what an excuse for a party!

Le Cannet is a popular residential suburb close to the eastern edge of Cannes, sitting in quiet hills with panoramic views, and dotted with luxurious villas. It is an extension of Super Cannes and abuts Mougins at its northernmost edge.

Situated just inland from Cannes, Le Cannet was considered a part of Cannes until 1774 when it was separated administratively to become its own commune.

Built on the gentle slopes of seven hills the views of Cannes, the Bay of Cannes, the Islands of Lerins and the “sunset hills” of the Massif Estérel far to the west are breathtaking. The Mairie is proud of Le Cannet and maximises its advantages when it has the chance, most recently by developing a rough track following the contour from above the Old Town east towards Golfe Juan, a path used by the Romans (there are traces of Roman road), and more recently for a water pipeline, into what is now a lovely walk with numerous spectacular viewing points along its length.

We were fortunate to live in Le Cannet for a year when we first arrived in France and we discovered many of its charms in that year, including the old rough track which we refer to as the Roman Road which is much used by walkers, dog walkers, mountain bikers and us (runners). It is still used by all of the above, but there is less chance of twisting an ankle.

We also discovered the “Old Town” of Le Cannet and have been regulars there ever since. It is not frequented much by tourists although it has some notable attractions, among them some excellent restaurants – our favourite is “Le Coin Gourmet”, but a more recent addition is “La Villa Archange” in Rue Notre Dame des Anges owned by renowned chef Bruno Olger formerly of the Majestic Hotel in Cannes, and awarded two Michelin Stars in Le Cannet in 2011. There are many others and dining in Le Cannet is both a well kept secret delight, and affordable!

The Vieux Cannet is a maze of twisting narrow cobbled streets, chapels, artisan workshops, and beautiful 1900 villas surrounded by secret gardens away from the noise of the city. It is rich in culture and history and L’Eglise Sainte-Catherine built in 1556 is a treasure trove, as are Les Chapelles de Notre-Dame and Saint-Sauveur. Within the maze one stumbles across frescos and tromps l’oeils, including the Heritage Orange Tree fresco on the glorious open Place Bellevue showing the family tree of the 140 families from Italy who founded Le Cannet in 1441.

Perhaps the most visited attraction is the Musée Bonnard. Pierre Bonnard who died in 1947 lived and worked in Le Cannet and regularly walked the village streets and the Roman contour path for inspiration. Matisse described him as “the greatest amongst us”. 40 of his major works are on exhibition at the Museum until spring 2012, but the permanent exhibition is well worth a visit anyway.Situated just inland from Cannes, Le Cannet was considered a part of Cannes until 1774 when it was separated administratively to become its own commune.

Built on the gentle slopes of seven hills the views of Cannes, the Bay of Cannes, the Islands of Lerins and the “sunset hills” of the Massif Estérel far to the west are breathtaking. The Mairie is proud of Le Cannet and maximises its advantages when it has the chance, most recently by developing a rough track following the contour from above the Old Town east towards Golfe Juan, a path used by the Romans (there are traces of Roman road), and more recently for a water pipeline, into what is now a lovely walk with numerous spectacular viewing points along its length.

We were fortunate to live in Le Cannet for a year when we first arrived in France and we discovered many of its charms in that year, including the old rough track which we refer to as the Roman Road which is much used by walkers, dog walkers, mountain bikers and us (runners). It is still used by all of the above, but there is less chance of twisting an ankle.

We also discovered the “Old Town” of Le Cannet and have been regulars there ever since. It is not frequented much by tourists although it has some notable attractions, among them some excellent restaurants – our favourite is “Le Coin Gourmet”, but a more recent addition is “La Villa Archange” in Rue Notre Dame des Anges owned by renowned chef Bruno Olger formerly of the Majestic Hotel in Cannes, and awarded two Michelin Stars in Le Cannet in 2011. There are many others and dining in Le Cannet is both a well kept secret delight, and affordable!

The Vieux Cannet is a maze of twisting narrow cobbled streets, chapels, artisan workshops, and beautiful 1900 villas surrounded by secret gardens away from the noise of the city. It is rich in culture and history and L’Eglise Sainte-Catherine built in 1556 is a treasure trove, as are Les Chapelles de Notre-Dame and Saint-Sauveur. Within the maze one stumbles across frescos and tromps l’oeils, including the Heritage Orange Tree fresco on the glorious open Place Bellevue showing the family tree of the 140 families from Italy who founded Le Cannet in 1441.

Perhaps the most visited attraction is the Musée Bonnard. Pierre Bonnard who died in 1947 lived and worked in Le Cannet and regularly walked the village streets and the Roman contour path for inspiration. Matisse described him as “the greatest amongst us”. 40 of his major works are on exhibition at the Museum until spring 2012, but the permanent exhibition is well worth a visit anyway.

Nicknamed the bay of billionaires for its valuable real estate, the Cap d’Antibes enjoys privileged exposure to panoramic views westwards towards Cannes and the Iles de Lérins, eastwards across the sea to Nice and the Baie des Anges.

Cocooned in quiet and seclusion and flanked by sandy beaches, the Cap d’Antibes provides total privacy to its many and varied prestigious residents.

Within it is the mythic Eden Roc Hotel known for being the most discreet, and host to the rich and famous, most notably during the Film Festival and the congresses taking place at the Palais des Festivals.

The price of real estate on the Cap d’Antibes is in keeping with its reputation.

A village in the city situated on the “Pointe Croisette” or the “Tip of the Croisette”, on the Palm Beach peninsula with its beautiful beaches west and east; on the western side the beaches of the Boulevard de la Croisette and the famous Bijou Plage or Jewel beach, and those of Boulevard Gazagnaire on the eastern side, opposite the Iles de Lérins.

The Place de l’Etang which was so loved by Henri Salvador is at its heart and well known for its competition “pétanque” or “boules”. But the peninsula is also home to the famous Palm Beach Casino on the sea front on the point, and the new Port Canto with its billionaires’ yachts lies on the walk into Central Cannes.

Extremely prized for its real estate, for its practicality, its safety, its quiet and its ideal and pleasant life style, the suburb of Palm Beach offers all conveniences (such as commerce, doctors, dentists…) and very fine restaurants including the celebrated Fred l’Ecailler.

Known by many in France as the “New Little Croisette”, Palm Beach has properties attaining prices up to 20 000€ per m², depending on their position on the peninsula. However away from the beaches (although nowhere in Palm Beach is more than 200m from a beach) the prices are still in line with suburbs further away, and there are bargains to be had.

A SHORT PERSONAL DESCRIPTION OF “PALM BEACH” CANNES FROM A RESIDENT.

Vicky and I happen to live and work in Palm Beach and we love it (we also get access to apartments as they come onto the market). In our experience every visitor we ever have to Cannes falls in love with Palm Beach too.

It is the little suburb on the peninsula that forms the eastern end of the Croisette, and points like a finger from the hills above Cannes (La Californie) to the Islands – the Isles de Lerins – a few hundred meters offshore.

It is only three blocks wide with two streets running north-south through it, and three (or four depending on where you draw the boundary) running across it from the beaches and Port Canto on the west looking at Cannes and the Bay of Cannes, to the beaches and Port Moure Rouge on the east looking across the Golfe Juan to Juan les Pins and Antibes.

Palm Beach is prime real estate in France – it is beautiful, safe, warm and sought after, and whereas Cannes has razzmatazz, Palm Beach is quiet and is really a “village apart”. Yet it only takes 15 minutes to walk from our apartment to the very centre of Cannes, along the famous, well lit and lovely Croisette, all the way through lovingly tended gardens along the water’s edge. It is truly a beautiful walk.

At the tip of Palm Beach is the famous 1930’s Palm Beach Casino which serves as a marvellous venue for many world class concerts and events.

Just a little closer in is the Place de l’Etang which is the heart of world “boule” (pétanque). Surrounding the lovely Place are at least five restaurants ranging from a top-class seafood restaurant (Fred l’Ecailler – Google it) to local and affordable French and Italian, and a variety of small shops serving the neighbourhood.

A little closer in still is the Village Sablons which has Cesarine the best boulangerie-patisserie in the world in our opinion (baking the best baguette) and serving magnificent coffees, croissants and pastries, two small groceries, a delicatessen, two traditional butcheries and a specialist poissonerie or fish shop (doesn’t it sound better in French!), a post office, pharmacy, hairdresser, laundry, and a newsagent. It is all charm and one could be a hundred miles from Cannes, not just a stone’s throw.

There is no more land to build on and only one Palm Beach this side of the Atlantic. Safety, value for money and quality of life are the phrases that probably sum it up best, and it is quite beautiful too, whichever way you look.

For anyone who has not experienced the Rue d’Antibes, the second most popular shopping street in France after the Champs Elysee, it is a feast for the senses.

The architecture is a beautifully preserved mix of “belle epoch”, “bourgeois” and “art deco” – some of the best preserved anywhere.

It is a narrow street, only one lane wide with traffic moving from east to west, with very wide pavements and pedestrians most definitely rule! The street is decorated with floral displays and huge and exotic hanging baskets as far as the eye can see.

People from around the world flock to it to shop in some of the most prestigious shops, in galleries, or just to sit and sip espresso or a glass of rosé on the pavement and watch the world passing bye.

It is a street without restaurants, bars and clubs, and with minimal traffic so it goes quiet in the evening. The night life is in the surrounding streets and those leading off the Rue d’Antibes, but not on the Rue d’Antibes itself.

The area in the very centre of Cannes, clearly demarcated by and contained within the “voie rapide” or ring road, is known as La Banane because of its very obvious banana shape, the outer semi-circle being made up of the ring road and the inner semi-circle being made up of the beaches of the Croisette.

La Banane is the very famous and “happening” nerve centre of Cannes; the luxurious hotels of the Croisette and the Rue d’Antibes and the trendy gastronomic restaurants and clubs are all situated in this lively area, known also as “Carré d’Or” or “Golden Square” for the chic and the “richesse” which define it.

The principal interior artery of La Banane is the Rue d’Antibes, running parallel to the Croisette and highly reputed for its boutiques and designer label shops.

The Croisette itself is the southern and the other principal artery, both of them running east / west and both exuding chutzpah. Audacious and unashamed!

This is the area particularly sought after by investors, especially if they have rentals in mind; its proximity to the Boulevard de la Croisette and the Palais des Festivals ensures that it is booked to capacity for each and every congress and event, and its beautiful beaches and famously easy-going lifestyle attracts holiday-makers.

Prices of apartments in La Banane (as opposed to La Croisette itself which is dealt with separately) vary between 5 000€ and 12 000€ per m² depending on the position and the condition of the building.

Le Suquet is the historic centre of Cannes situated directly opposite the Old Port which served the Old Town in days gone bye and still does today, and the Palais des Festivals (a symbol of an entirely different era – the ultra modern).

With buildings and architecture dating back to the 10th century, with climbing, winding cobbled streets, shops, stalls and traditional restaurants, and sitting at at the western end of the ultra chic Rue d’Antibes, Le Suquet itself is predominantly pedestrian, offering a genuine village ambiance within the city.

At the summit is an ancient church (not a cathedral so Cannes can’t be called a city) topped by a clock tower visible from almost everywhere in the valley – a genuine landmark.

The mediaeval protective wall still encircles parts of the summit, and the original fisherman’s houses tumble across and around one another today, inside and outside the old walls, and spill down the hill towards the Old Port.

This charming and multi-coloured Provencal fishing village is sought after real-estate today. Its proximity to the heartbeat of the Riviera, the Palais des Festivals, La Coisette, and the Rue d’Antibes, and its profusion of world class restaurants make it an international attraction in its own right.

At the base of Le Suquet is the famous Marché Forville, open six days a week for fresh local Provencal products prized by the residents of Cannes and “star” restaurateurs from all over the Cannes valley and further afield. Only on Mondays is it not open for produce, but it becomes a wonderful antiques market that many visitors to Cannes take pleasure from visiting.

The market is a covered market extending across an entire block, and a visit to Cannes without a visit to Marché Forville is an opportunity missed. Fresh fruit and vegetables, and such colour, pastas, preserves, charcuterie, cheeses, fish and shellfish, speciality meats and flowers all so mouth-wateringly fresh are on offer and the place is a buzz of activity and local colour.

Surrounding the market are more specialist stalls, bakers and patisseries, coffee shops and wine specialists where it is a local tradition to sit at the tables on the pavement and enjoy a glass of wine or champagne with some oysters opened on the street, or olives from the region, and talk, enjoy the sunshine and watch the activity all around.

It is a feature of Cannes that the ancient and the traditional sit comfortably with the ultra modern and the chic. One only has to sit at a well worn square of rough and dusty gravel ground atop Le Suquet and watch the locals excitedly partake of a match of pétanque (boules) in age-old fashion, and then walk down the hill to see some of the world’s most expensive super-yachts in the Old Port not five minutes away, or wander past the state-of-the-art Palais des Festivals, along the Croisette or the Rue d’Antibes with their super-modern touches amongst the ancient, to realise that the ancient is preserved while the modern is all around. And there is harmony, quality of life, and an absence of conflict.

Prices vary between 4 000€ and 10 000€ per m² depending on the position and the condition of the building.

On the hillside east of Cannes adjacent to the residential suburbs of Super Cannes and La Californie, Oxford, their little sister suburb, is composed largely of residential buildings from the “belle époque” and bourgeois eras, and villas with swimming pools, with open views across the neighbourhood, and some with views or partial views of the Bay of Cannes.

It is just a little further from the centre of Cannes than La Californie and doesn’t generally share the stupendous views of those two, but it is very comfortable, and well serviced both by commerce and by very easy transport links into the city.

All of this is within a quiet, exquisitely clean and extremely green environment and as well as access to Cannes itself, it has rapid and easy access to the motorway. The suburb is also home to a state of the art private clinic.

Prices range between 6 000€ and 10 000€ per m².

Parallel to the principal artery leading in and out of Cannes, the Boulevard Carnot, the chic old suburb of Petit Juas is close to the centre of the city and the Croisette.

It occupies the hill overlooking Cannes from the north west sitting opposite to La Californie on its hillside, and overlooking Cannes from the north east. Behind Petit Juas one climbs further into the hills and into the exclusive suburb of La Croix des Gardes.

Petit Juas is made up of little streets, many of them one way, and gorgeous “bourgeois” and “belle epoch” houses and villas which are proudly looked after and preserved.

It is more “French” than La Californie and La Croix des Gardes both of which experienced a lot of foreign (English, Russian and American) influence a century and more ago, and boast some huge and wonderful villas and residences.

Petit Juas is less imposing, and for this reason it is an up-and-coming suburb in Cannes. There is a great deal of building and renovation taking place continuously and the character of the suburb is jealously respected. We have seen values rise considerably in the area because it is very much in demand and a lot of young people live in Petit Juas because it is “vibey” and affordable, and so very close to Cannes.

The area is quiet, quaint, and has an “old France” character and feel. Parking is a nightmare as you would expect in these narrow streets, but somehow the atmosphere is very relaxed and happy, and the charm is pervasive. People living in Petit Juas never want to move!

The prices of real estate vary from 4 000€ to 8 000€ per m².

A glance at the map shows that the position immediately west of central Cannes and at the base of the prestigious and historic suburb of La Croix des Gardes, is also at the western base of the hill which is home to the Old Town of Le Suquet. It is actually only a very short walk to the Old Port of Cannes and the centre from Basse Croix des Gardes, via the sea front and along the beach-walk with its restaurants and cafés, or alternatively it is just a gentle stroll straight through the quaint and cobbled heart of the Old Town, equally well imbued with cafés, restaurants and opportunities to browse and shop.

There are some classic apartment buildings here dating back to the 1800’s, as there are up the hill in La Croix des Gardes itself, well maintained, protected from prying eyes, and sought after for their desirable position so close to the centre. Many of them have private access to the beaches below, but all of them are anyway very close. There are also some gracious old homes long since converted into two, three or four apartments, and some newer buildings of quality too.

Prices are very similar to those in La Croix des Gardes, varying between 5 000€ and 10 000€ per m².

The area comprises 80ha of hillside that was some of the most sought after land available when Cannes was being developed more than 100 years ago. It enjoys magnificent views south and westward over the Bay of Cannes, the Iles de Lérins, and the Massifs of the Esterel and the Tanneron.

The leafiest suburb of Cannes, La Croix des Gardes exudes a great feeling peace and quiet although it is less than a kilometre as the crow flies from the emblematic Boulevard de la Croisette and the lively centre of Cannes. Residents of La Croix des Gardes generally wouldn’t wish to live anywhere else, and holiday makers love its easy access to everything that they require.

The stately villas and quality residences, many of them classic bourgeois and protected by law, are spacious and private with sweeping lawns and gardens, private access to beaches, and allow for an enviable quality of life.

Prices are from 5 000€ to 10 000€ per m² depending on position and the quality of the building.

It is less treed than La Californie itself but has the advantage of being closer to the centre of the city (known as “La Banane”, or “The Banana”).

It is a highly prized area of Cannes for the multiple advantages of its easy accessibility to town, and for its proximity to the sea, the Rue d’Antibes, the Croisette and all conveniences.

Possessing very high quality residences, and being very well served by public transport, the price of property varies between 6 000€ and 12 000€ per m² depending on the position and the luxury (the standing) of the property.

A very short distance from the Croisette, just across the Bay of Cannes are the two enchanting Islands of Lérins, St. Marguerite and St. Honorat, for which ferries depart from Cannes every half an hour. In addition to the historic and cultural treasures these islands hold, the beaches and pristine azure sea are glorious. It is possible to walk right around either island and find private beaches and magical coves with nobody there, or very few. The bays are enjoyed by many private boat owners who moor for the day in summer.

To pack a picnic lunch with a cold bottle or two of local rosé and head for the islands in a hire boat or the ferry is a wonderful way to spend a day.

The closer island Isle de St Marguerite is named after St. Honorat’s sister of that name who lived here with a group of nuns in the 5th century. Close to the dock where the boat lands is the Fort de l’Ile, built by Spanish troops from 1635 to 1637. Below that is the 1st-century-B.C. Roman town where the unlucky man immortalized in The Man in the Iron Mask was imprisoned.

He remains one of French history’s most perplexing mysteries, a prisoner of Louis XIV who arrived at Ste-Marguerite in 1698. Dumas popularized the theory that he was a brother of Louis XIV, but whoever he really was he died in the Bastille in Paris in 1703. A visit to his lonely cell where one can stand listening to the sound of the sea brings home what a forlorn outpost this was.

Also worth a visit is the Musée de la Mer which traces the history of the island with exhibits of artefacts of Ligurian, Roman, and Arab civilizations, plus remains discovered in excavations, including paintings, mosaics, and ceramics.

Ile St-Honorat is less than 2km long, but richer in history. It remains the site of the oldest working monastery in Europe whose origins go back to the 5th century. Today the Abbaye de St-Honorat combines medieval ruins and early-20th-century ecclesiastical buildings, inhabited by a permanent community of about 30 Cistercian monks. If space is available, outsiders can visit overnight for prayer and meditation only. However, most visitors come to wander through the pine forests on the island’s western side, to buy the highly regarded wine still made by the monks in age-old fashion and tradition, and to sun themselves on its quiet and lovely beaches.

The first festival was set to be held from 1 to 30 September 1939. The German attack on Poland on 1 September 1939, followed by the declaration of war against Germany by France and the United Kingdom on 3 September, ended the first edition of the festival before it started.

It was re-launched after World War II and in 1946, under the auspices of the then Minister of Fine Arts Jean Zay, the International Festival of Film, known as the Cannes Film Festival since 2002, was inaugurated. It has become the most media-covered film event in the world.

The Cannes Film festival has established itself as the most important showcase for European films but in addition, given massive media exposure, the non-public festival is attended by many movie stars from around the world, and is a popular venue for film producers to launch their new films and to to sell their works to the distributors who come from all over the globe.

Over the years, in the month of May, the Festival with its demands, its glamour, its extravagances and its scandals has forged for itself a place and a reputation at the top of the league of world events.

The most prestigious award rewards the best film of the year with the famous and coveted Palm d’Or, awarded by a jury of professionals, artists and intellectuals. However there are numerous lesser but equally coveted awards for Best Actor, best Actress, Best Director, Best Screenplay, Best Young Talent, Best First feature, and many more.

The Palais des Festivals is a complex of 35 000m² of exhibition space and multiple halls with 18 auditoriums. It was constructed in 1949 to host the Cannes Film Festival, the success of which, combined with the success of such business conventions as the MIPTV Media Market (since 1965), MIPIM and others has led to its rapid expansion over the years. Today it is at the forefront of technology with ultra modern and sophisticated equipment, surpassing even that of the Palais des Congrès de Paris.

The Palais has recently been renovated and improved yet again, and been awarded triple certification and honours in the fields of Quality (ISO 9001), Environment (ISO14001) and Safety (OHSAS 18001) and plans are already in place for future expansion.

The most celebrated event held at the Palais des Festivals is the Cannes Film Festival.

Who hasn’t heard of La Croisette? This unique and world famous Boulevard follows the ancient seaside road known as the “chemin de la petite croix” or the “road of the little cross”, from where it derives its name.

It is best known for the many congresses that take place at the Palais des Festivals and in particular the ” Festival International du Film”, and the countless stars that crowd the stairs and the red carpets. The frenzied invasion of the Croisette each May at Film Festival time lends notoriety to the hot spots of Cannes and luxury is omnipresent through the high-end boutiques, the star chefs, and the five star hotels.

However there is much more to it than that. The sandy beaches are meticulously cared for and cleaned both on-shore and off, and the beach bars and restaurants are of a quality to rival any in the world, welcoming and elegant. The very extensive gardens and walks along its 3km length from the Old Port and the Palais des Festivals in the west, to the Pointe Croisette at the farthest eastern end of Palm Beach are beautifully gardened. There is street art on display, there are sections given over to roller skaters, to pavement artists, to exceptional rose gardens and in winter fabulous displays of cyclamen; there are no less than three ports with yachts and boats of all sizes through which one is free to wander if one wishes, and there are fairs, country markets, and world beating fireworks displays set to music.

For the ordinary resident or holiday-maker there is little to beat a leisurely stroll along the Croisette in the warm evening sun in winter or summer, to watch the magnificent sunsets across the bay lighting up the bright red Esterel Hills in the west, and to stop for a glass of chilled rosé and a few olives while quietly observing the world go by. Hundreds turn out, children on their scooters and parents and pushchairs, and yes, the occasional face you may recognise from a magazine or a film.

Not quite as popular but every bit as enjoyable are the mornings when the Croisette wakes up to the beat of early joggers, and the footsteps those who prefer a brisk walk to get the circulation going, and a stretch of their legs before a busy day.

The Croisette is for all people, for all occasions, and for all seasons.

The price of real estate on this most loved and famous boulevard in the world is at the top end and ranges from 8 000€ to 30 000€ per m² for the most exceptional.

La Californie:

The suburb of La Californie in Cannes shares many characteristics with its namesake across the Atlantic: the climate, upscale residential neighbourhoods, luxurious villas and apartments, and residents from all over the world.

Situated just on the eastern edge of Cannes, perched within a screen of greenery and enjoying close proximity to the sea, La Californie is the hide-away of places borrowed from history such as Villa Fiesole, La Résidence du Château de Thorenc, La Villa Fiorentina, Le Château Louis XIII, La Villa Rothschild, and La Villa St Prieste and Le Californie.

La Californie is also known as “la colline des milliardaires” or the “hill of billionaires”, being home to large estates and boasting splendid and panoramic views from the snowy Alps in the east to the red Esterel Mountains in the west, with Nice clearly visible in the distance, and the Cap d’Antibes, Juan les Pins and Cannes just below. The Isles de Lérins lie just off-shore; St Honorat with the oldest working monastery in Europe and St Marguerite home to the fort in which The Man with the Iron Mask was imprisoned for 14 years.

The views are simply breathtaking.

Obviously, prices in La Californie are at prestige levels, similar to those of La Croisette.

(If you know that you want to live in La Californie, you might know you want to live in the Avenue Roi Albert. It is “the” address in La Californie, and some would say in all of Cannes. But there is competition for that spot so I won’t enter into the argument – suffice to say that some of the most historic buildings in Cannes built by the Russians, the Americans and the English and are still there today. Victoria and Albert enjoyed their holidays there, Edward and Wallis Simpson, the Rothschilds, and the Russian aristocracy all lived, holidayed and socialised there, and recent additions to the architecture in the street have respected the tradition and the quality of their forebears’.)

In the week before Vicky and I left Cannes, and right until the morning we flew for Cape Town, we found ourselves visiting a succession of really good properties. I’m not going to include them all, and will inevitably follow up with a Property Letter in January or early February when I am back in Cannes and will again pick out the highlights from what is available.

In addition to what I have written up for you below:
• We have been absolutely bowled over by a stupendous villa in the hills near Grasse with fabulous space, gardens, and a view to take the breath away.
• A property in Mandelieu with three bedrooms, infinity pool and fabulous views over the Bay of Cannes.
• Similar in Le Californie, two bedrooms in a classic building in the heart of this prestigious suburb overlooking Cannes.
• And a fabulous and spacious loft apartment of 200m² and 4 bedrooms in Le Cannet, with commanding height and south facing terrace and views across the bay.
There are others in the Banane and the Croisette which I will deal with in detail in January – some having come in during the week we have been away, and I look forward to visiting them as soon as we are back.

Our personal timetable and movements in 2011.

Vicky and I return to Cannes in mid-January.
As in every year since 2002 we will return to Cape Town three times in 2011 for
• A long April (Easter and the Two Oceans Marathon included)
• A long August (We find it too hot and busy in Cannes and most of the key people we need to see are on holiday – Our son Lao and his rentals team are at full stretch during this period of course)
• A long December (and Christmas with our family in Africa)
It works out that we are about 12 weeks Cannes; 6 weeks Cape Town; 12; 6; 12; 6.

While in Cape Town we are always available and try to see as many people who are interested in investment France as we can. It is a valuable time for us and a chance for interested people to meet us and talk.

Property loan rates in France drop to lowest level in 60 years.
From propertywire.com
Monday, 01 November 2010.

The cost of borrowing for property in France is now at its lowest level since the Second World War with the average rate falling to 3.3% in October. (We have been able to achieve rates as low as 2.4% for borrowers in 2010)

One of the reasons rates are now so low is that the interest rate on long term government debt is at its lowest level for 200 years, according to French specialists Athena Mortgages. “Quite simply, the cost of borrowing money in France has never been this cheap or secure for such a large number of people before,” said director John Busby.

He also believes that potential buyers should not become too fixed on exchange rates. “The euro may be strong now, but the fact that you can access near 100% funding means that it does not matter what the exchange rate is. The long term value of low rates, combined with low property prices, far outweighs any currency considerations,” he said.

“You can always buy Euros when the timing is right and your home currency is strong against the Euro. You can’t always buy property near the bottom of the market with historically ultra low interest rates,” he explained.

“As the French market has fixed rates for the term of the mortgage as well as a wide range of capped products, you can limit your exposure to future rate rises and lock in long term value,” Busby added.

In its latest outlook report Athena also points out that recent figures show that transaction numbers are increasing in France, providing a knock on effect on French house prices. The number of transactions annually stood at around 800,000 or more for the five years preceding 2007, before sales numbers across France began to fall.

The main reason for these falls was a combination of very high interest rates and inflation just prior to the financial crisis and the collapse of confidence thereafter. This continued until the middle of 2009, when annual transaction numbers stood at just over 550,000. It is no surprise that as mortgage finance became more affordable, and the end of the world didn’t materialise, people were drawn back to the market, especially as in some cases buying was cheaper than renting.

Since the middle of 2009, the number of completed house purchases in France has risen by around 100,000 per year. The figure now stands at just under 650,000 with the v-shaped recovery continuing. House prices have followed more or less exactly the same trend, with the middle of 2009 seeing prices starting to rise again, and this upward trend has continued.

“While transaction levels remain below their peak, bargains and discounts will still be possible to find but these will become rarer as the market picks up again,” it says.
And the South African Rand stays strong…
The Rand is 22% stronger vs. the Euro than in January this year, having bought you less than 9 euro-cents then, and being worth almost 11 euro-cents today. (The strong demand for gold is the principal driver of Rand value).

The Société Civile Immobilière or SCI.

The SCI is a popular legal structure and an instrument for managing assets and taxes, and most importantly the tricky issue of inheritance.
French law distinguishes between two categories of “person”:
• Personnes physiques or “natural persons”
• Personnes morales or “juristic persons” (in English law). SCIs are regarded as personnes morales. They have a legal existence and can own assets. They have a name, and an address, and a function. They can make contracts and take legal action.
Real estate is not the only possible reason for setting up an SCI – it can also be used for holding “moveable property” such as valuable objects, a share portfolio, or shares in a holding company intended, for example, to make it easier to pass on a family business.

The most common form of SCI is the SCI de gestion bringing together (at least two) people and owning one or more properties.
The founders draw up a written contract or the articles, or governing rules of the proposed SCI – they are the statuts. This document sets out the purpose of the SCI, its name, its registered office, how long it is being set up for and the rules on how it will function.
The new SCI is required to register at the court registry (the greffe du tribunal), the registry of commerce, and with the tax authorities.
SCI’s are subject to the “tax translucency” regime (regime de translucidité fiscal) meaning partners must pay personal income tax on profits received from the SCI. SCI’s can however also be subject to corporation tax (impôt sur les societies) if they are involved in any activity seen by the tax authorities as commercial – furnished rentals qualify. This is a reason to incorporate usufructs into the articles of the SCI, and rentals would be made in the name of the usufructee and not the SCI, leaving the SCI without income.

Once the SCI exists it is necessary to hold minuted partners meetings and not to forget tax obligations, even if it is a nil return.
Deductible expenses include loan interest and setup fees, repair and modernisation costs, management costs, and land taxes (taxes foncières).
When an SCI sells a property the capital gain is worked out according to the real estate capital gains regime for private individuals. Gross capital gain is reduced by 10% for each year the property has been owned after the fifth one, with complete exoneration after 15 years. Capital gain is taxed at 16% for EU residents and 33% for non-EU residents.

Partners can leave the partnership by transferring (e.g. selling) their shares or, if they cannot find a buyer, by withdrawing.
An SCI can be wound up and, in the event, capital gain is calculated on the SCI’s assets in just the same way as in the event of a sale by the SCI of some of its real estate.

Couples married or not, benefit from creating an SCI.
An SCI can facilitate the lifetime passing on of one’s estate by gift or on death (gifts are not taken into account in tax calculations providing they have taken place at least six years before the giver dies). Setting up an SCI before such a gift can reduce the tax burden.
An SCI can make it easier to share out property among one’s children – it is easier to divide up shares than actual real estate.
Parent donors who often hold a small minority of the shares usually keep, in the form of a usufruct, use of the property until their death so as to retain their lifestyle and their means of existence, as well as decision making over important management and policy issues. The usufruct is extinguished without further taxation at the death of the holder.

With kind regards,
Guy.

• 40m² of garden terrace.
• Luxury residence.
• Top security.
• Aspect south, west and north.
• Cellar.
• Possibility of parking space if required.

This apartment is on the ground floor of one of the top residences in the Palm Beach sector of the Croisette. It is a residence of luxury and security with a guardian. It traverses the building and benefits from a very spacious private terrace and garden. The view is of the Croisette, palm trees and gardens with patches of sea visible through the foliage.

The apartment comprises a large living room opening onto the terrace, an equipped kitchen, and two bedrooms each with a bathroom and toilet en-suite. The apartment is air conditioned, there is a cellar, and should it be required, the possibility of buying or renting a garage or parking space in the building.

• 30m² of terrace / garden.
• Ground floor.
• Aspect west.
• View garden.

A very charming ground floor apartment in a very well maintained black in the heart of Palm Beach.

It is just one short block to the Croisette, the Port Canto and the beaches, and just 100m to the charming little village of Sablons with all its shops and facilities. In the other direction it is a five minute walk to the family beaches of Gazagnaire, the opposite side of the Palm Beach peninsula. Being on the Cannes side of Palm Beach the apartment is a short 15 minutes walk to the Palais des Festivals and the very heart of town, so suits seasonal and conference rentals as well as longer term and holiday rentals.

The apartment consists of a living room with an en-suite kitchen, a small bedroom with double bed, a bathroom and a useful lock-up storage room, but its huge added attraction is its shady garden, entirely hedged in from the pavement outside and with a sunny aspect, full on to the west. It is a lovely outside living and dining area and makes the apartment so much more liveable and spacious – the living room, kitchen and bedroom all flow onto the terrace through wide glass doors.

• The second floor of a three storey Bourgeois building.
• Balconettes overlooking the Old Port.
• 3 Apartments.
• 4 Bedrooms.
• 5 Bathrooms.
• 3 Kitchens.
• Construction 1900.
• Aspect south and north.
• Overlooking the Old Port

*****THREE APARTMENTS IN THE VERY HEART OF Cannes*****

• All three apartments are fully renovated and furnished working units.
• One is large with an enormous living room / meeting room and two bedrooms.
• Another is smaller with one bedroom and its own living space.
• The third is a self contained studio apartment.

Each has its own entry, but all are inter-leading if one wants to use them as one big apartment and living space. There is marvellous flexibility.

The building is a typical three storey Bourgeois building in the Old Town of Cannes, right on the front, overlooking the fountain and the statue of Lord Brougham, the Marché aux Fleurs, the boules courts, and the Old Port of Cannes.

It is also just metres from the famous Restaurants of the front, including “Chez Astoux” which is renowned for its seafood, shellfish platters and oysters:
Opposite the flower market (on Allées de la Liberté Charles de Gaulle), this restaurant, sporting two grinning green octopuses, serves oysters, shellfish and other seafood. Since 1920, this restaurant has been a hot favourite with locals and tourists. Here, freshness is guaranteed and you can eat in or take away. Try the house speciality of Bourride de Lotte Astoux – a heady concoction of monkfish, prawns and mussels in a thick garlic-mayonnaise sauce. A set menu at EUR19.10 can include stuffed mussels a la Provençale, followed by Sole Millefeuille a la Florentine and a cheese plate. The EUR27.20 menu is even more filling.

It is also just meters from Marché Forville, and if one were to throw a stone from the front balconette, I think a strong arm could land it on the Palais des Festivals. It is that close.

The apartments have been renovated and decorated to a high standard by the Italian owners, so many of the components are Italian – fittings, appliances and surfaces. All rooms are air conditioned, and all windows double glazed.

From the rentals perspective this little and versatile group of apartments is perfect for every conference, and for holiday custom too.

The SCI is a popular legal structure and an instrument for managing assets and taxes, and most importantly the tricky issue of inheritance.

French law distinguishes between two categories of “person”:

Personnes physiques or “natural persons”
Personnes morales or “juristic persons” (in English law). SCIs are regarded as personnes morales. They have a legal existence and can own assets. They have a name, and an address, and a function. They can make contracts and take legal action.

Real estate is not the only possible reason for setting up an SCI – it can also be used for holding “moveable property” such as valuable objects, a share portfolio, or shares in a holding company intended, for example, to make it easier to pass on a family business.

The most common form of SCI is the SCI de gestion bringing together (at least two) people and owning one or more properties.

The founders draw up a written contract or the articles, or governing rules of the proposed SCI – they are the statuts.

This document sets out the purpose of the SCI, its name, its registered office, how long it is being set up for and the rules on how it will function.

The new SCI is required to register at the court registry (the greffe du tribunal), the registry of commerce, and with the tax authorities.

SCI’s are subject to the “tax translucency” regime (regime de translucidité fiscal) meaning partners must pay personal income tax on profits received from the SCI. SCI’s can however also be subject to corporation tax (impôt sur les societies) if they are involved in any activity seen by the tax authorities as commercial – furnished rentals qualify. This is a reason to incorporate usufructs into the articles of the SCI, and rentals would be made in the name of the usufructee and not the SCI, leaving the SCI without income.

Once the SCI exists it is necessary to hold minuted partners meetings and not to forget tax obligations, even if it is a nil return.

Deductible expenses include loan interest and setup fees, repair and modernisation costs, management costs, and land taxes (taxes foncières).

When an SCI sells a property the capital gain is worked out according to the real estate capital gains regime for private individuals. Gross capital gain is reduced by 10% for each year the property has been owned after the fifth one, with complete exoneration after 15 years. Capital gain is taxed at 16% for EU residents and 33% for non-EU residents.

Partners can leave the partnership by transferring (e.g. selling) their shares or, if they cannot find a buyer, by withdrawing.

An SCI can be wound up and, in the event, capital gain is calculated on the SCI’s assets in just the same way as in the event of a sale by the SCI of some of its real estate.

Couples married or not, benefit from creating an SCI.

An SCI can facilitate the lifetime passing on of one’s estate by gift or on death (gifts are not taken into account in tax calculations providing they have taken place at least six years before the giver dies). Setting up an SCI before such a gift can reduce the tax burden.

An SCI can make it easier to share out property among one’s children – it is easier to divide up shares than actual real estate.

Parent donors who often hold a small minority of the shares usually keep, in the form of a usufruct, use of the property until their death so as to retain their lifestyle and their means of existence, as well as decision making over important management and policy issues. The usufruct is extinguished without further taxation at the death of the holder.

Further details on request.

Further details on request.

This beautiful hotel commissioned by the Countess of Oxford was completed just two years after the railway first reached Cannes in 1864!

If you are contemplating a rental property in the centre of Cannes with conferences in mind, this apartment is perfectly placed, and renovated to suit the purpose. In addition it is just off the Place Gambetta which is at the end of Rue Hoche, and was recently upgraded to become the most popular little pedestrian precinct in Cannes. The apartment sits on the edge of Place Gambetta which supports a market square every morning, but in line with the uplifting of the whole area is itself part of the City plan. When Place Gambetta is upgraded, and that is to be soon, the area will increase in value.

EXCEPTIONAL! EXCEPTIONAL!

STOP! Have a second look at this property, and a think about it. You really should.

I almost never get asked questions like “how’s the weather?” or “is there much to do and see?” or “are the people friendly?” or “was it a good film festival this year?”….

Without doubt the most commonly asked question (by you) is “how’s the market?” I also get asked about bank lending policy, interest rates, rental returns, the recession; so those are the questions I tend to try to answer at the expense of adding much local colour to these letters, but anyone who has visited the French Riviera knows there’s plenty of local colour to be seen, heard, felt and tasted!

Just last night Vicky and I went to our favourite “Resto des Arts”, a quaint little restaurant in the mediaeval hilltop town of Mougins just 25 minutes from Cannes with some American friends, regular visitors and early morning running partners who come from L.A. twice a year for the MIPTV conference in April, and MIPCOM in October. She is with Fox Films and has been to Cannes on conferences 45 times over 20 years, an amazing record! The owner of the Resto is a great character, the atmosphere and service so pleasant, and the French cooking is superb but affordable. It’s quite beautiful up there and it was an experience and an evening to remember, but that is what this part of the world is all about – quality of life scores 100%.

FR2DAY.

For those planning to visit the French Riviera, or if you just want more local colour than I can give you I strongly recommend you have a look at the FR2DAY website. Bookmark it or add it to your favourites. It has a really informative “Food” section for those looking for quality, quaint or off the beaten track eating experiences. It covers “Showbiz”, “Business”, “Shopping”, “Travel”, the “Conferences” and many other topics

Extracts from FR2DAY’s blog on 8th October:
French Riviera Property market on the rebound: Estate agents in the Alpes Maritimes have announced a record jump in property transactions, up by 33% in July, August, and September 2010. Agents say prices are starting to creep up but only by a percentage point or so. At the same time mortgage interest rates remain very low, and this is bringing buyers back to the market. At the moment the growth is in the principal residence market – second homes are still flat. The main thing to really get the market going again would be for the people that took their property off the market during the recession to bring it back on, because there is a shortage of available homes on offer….

Sundance Kid Robert Redford slept under a pier in front of the Carlton: In 1957 when he was studying painting in Paris, Robert Redford went on a hitchhiking tour. One night he was dropped off by a lorry in Cannes and ended up trying to sleep under the pier in front of the Carlton. “I’ve been back staying in there since”, he smiles. This week he’s been in Cannes spearheading the global launch of his TV channel, Sundance….

“Les Terraillers” in Biot – a real treat of a restaurant! I just love it when I find my new favourite restaurant. It happened when I was lucky enough to join a group of ladies for lunch a few weeks ago. We’d picked a perfectly sunny day so the outside terrace was a must with its beautiful pots of flowers and glass objets d’art…..

MIPCOM 2010 – Celebs, international deals, and Facebook. Facebook was the inescapable word at this year’s MIPCOM, as pretty much all the speakers tried to get to grips with the phenomenon. For example, Facebook Vice President EMEA Joanna Shields told us how Facebook now has more than 500 million users around the world – if Facebook were a country, it would be third in the world behind China and India in terms of population! And 30% of TV audiences are logged into Facebook while watching their favorite shows. So there are plenty of opportunities for interacting with the audience…..
During the show lots of deals were stuck, including Japan broadcaster NHK announced a deal to sell shows to France Televisions; Discovery Channel sold 200 hours to various European outlets; Disney made a deal for movies and series with Orbit in the Middle East; and the BBC’s sold 800 hours of programming to Eastern European clients. Overall this was a huge success for the 12,400 participants, as the industry pulls out of recession.

The Market.
We get a great deal of information from the central registry of Notaries, from FNAIM the industry regulatory body of which we are members, from real estate conglomerates, and from the government.

There are two main factors that interest me and one is turnover or how much is selling, and the other is the price at which it’s selling.

What interests my questioners of course is the price. When is the right time to buy? It is logical that price shadows turnover – as sales dry up prices contract, and when things start to move again prices react by rising.

In my previous “Property Letter” (in July) I showed the price trend as published by the Chamber of Notaries for this region, the Alpes Maritimes (which includes the Cote d’Azur). But I have also been back into our owns sales history and totalled sales for each year since 2006 and the two together show very graphically exactly what effect the recession had on turnover and prices. (Some in the industry have gone out of business as a result of 2008 and 2009.)
The figures are frightening!

Sales Index – These figures show turnover for the period:
Our own figures.
(2006 = 100)

2006 2007 2008 2009 2010
100 59 12 32 55 (9 months)

Price Index –For resale apartments in the Alpes Maritimes:
From the Chamber of Notaries.

2005 2006 2007 2008 2009 2010
+17.2% +12.9% +9.6% +4.1% -5.6% ?

Price follows the volume of sales but lags by a year. Sales were almost non-existent in 2008, but that didn’t reflect in serious price reductions until 2009. The laws of supply and demand are alive and well, the market is moving again, and prices are on their way up as we can see on the ground. However it is slow and it is hesitant.

By this logic I predict:
2010 2011
Sales 70 (12 months) 100
Price +4% +6%

Why do I think prices will rise 4% this year? I have the July 2010 newsletter from the Chamber of Notaries in front of me and the annualised increase in prices for our region during the first quarter of 2010 is 3.1%. Furthermore they state that the volume of sales in resale residential property shows signs of returning to the +800 000 units achieved annually in 2000 – 2007. After what they describe as “chute vertigineuse” (vertiginous falls) in volumes after September 2008, they expect 700 000 resale properties to change hands in 2010, just 100 000 short of pre-2008 levels.

“Century 21” is probably France’s biggest real estate chain, and I heard recently that they are the biggest sellers of residential property in the world! Their July newsletter claims, from their own sales, an increase of 8.48% in the price of resale residential property in France overall if one compares the first quarter of 2009 with the first quarter of 2010, so according to them I’m on the conservative side!

Les prix de l’immobilier ont retrouvé leur niveau d’avant la crise. +8,48% en un an : les prix des logements anciens en France ont fortement progressé entre les premiers semestres de 2009 et 2010, selon Century 21. Une hausse qui approche le record d’avant la crise de 2008, selon l’un des principaux réseaux des agences immobilières.

It is still a buyers market however. Very recently we have seen a couple of excellent buys – for example: an apartment which seemed properly priced for what it was at 630 000€ elicited a very “cheeky” offer of 550 000€. I thought it was too cheeky, but after a very short negotiation we were able to secure it for our buyer for 555 000€! That doesn’t mean we can expect to get 12% off the asking price of every apartment but it is an indicator that some sellers would still rather have a sale if it’s offered to them than wait and wait! Times remain tough, and some sellers are still over-stretched.

Property as an Investment:
Not everyone buying property in the South of France is doing so purely as an investment, but by the same token nearly everyone wants their property to be a good investment whatever the underlying reason for owning it.
We are unlikely to see the back of this recession for a few years yet. We are personally invested in property and shares, and at the risk of annoying those readers who are heavily or professionally involved in the shares market my experience is that property has held its value considerably better than shares have. This may be because bricks and mortar are more tangible than shares, or because our property is in a prime area very much in demand, or because companies can stop paying dividends while property will generally continue to achieve some sort of rental return, albeit on a reduced basis.

This from a recent article I read on the South African based “Moneyweb” site:
“Generally, however, property does attract the investor anxious to avoid any significant risk and possibly lacking the resources to go it alone without gearing. By contrast, shares can be right for the person who studies the Securities Exchange daily and is really well informed on the likely future performance of every share he buys. This can be a very time-consuming operation and therefore again not suited to the amateur or inexperienced investor who is probably best advised to stick to property.”
My feeling entirely after what has happened in the last few years.

Finance:

Interest rates remain very attractive, and so do the terms:

Capital Repayment loans up to 20 years:
Today’s Rate 2.2%.
Spread 1.3%.
Characteristics:
• Variable rate scheme indexed to the 3 month Euribor.
• The monthly repayments are fixed for 12 months and revised annually at the anniversary date of the mortgage.
• Should rates of interest rise, the monthly repayment will not increase more than the inflation rate, meaning constant repayments in relation to inflation throughout the term of the loan.
• The term of the loan will increase or decrease according to fluctuations in the rate of interest (maximum of 5 years increase, and no minimum.)
• You have the flexibility to increase or decrease your repayments annually without any early redemption penalties.
• You have the flexibility to reimburse either partially (by at least 10% of the capital initially borrowed) or totally at any repayment date without any early redemption penalties.
• You have the flexibility to change to a fixed rate at any time without early redemption penalties.

Interest Only loans up to 15 years:
Today’s rate 3.1%.
Spread 2.2%.
Characteristics:
• Investment of cash in a savings plan (say 40% or more) against which the bank finances 100% of your property purchase.
• There are no early redemption penalties.
• For the first 5 years you only pay the interest on a margin of 2.15% on the 3 month Euribor, with a ceiling of 5%. (Interest payments are deductible from rental income for tax purposes.)
• At the end of 5 years you have the option to pay off part of or the entire loan using the money invested in the savings plan.
• Any outstanding amount (still owing) may be converted into a Capital Repayment loan over a maximum of 15 years if you wish, and the new monthly repayment is calculated on the remaining capital outstanding.
• Monthly repayments are inevitably substantially lower than in the Capital Repayment loan option.
• In the case of death, the investment in both the savings plan, and the property are 100% insured
• Not available to applicants over 70!

Currencies:
The Euro felt heavy pressure earlier in the year and hit a low against Sterling and the US$ in June 2010 (81p and $1.19 respectively) but has strengthened against both since June, and as I write they sit at 88p and $1.40. A little more respectable…

However the South African Rand continues to confound us all. In spite of the strengthening of the Euro since June, the Rand has strengthened even more! In November 2009 South Africans paid R11.97 for a Euro and most people I know thought that the Rand would slowly but surely weaken. But it turned! (Chinese interest in developing countries’ currencies, and the high price of gold…?) At its September 2010 high South Africans paid as little as R9.08 for a Euro, and today R9.60. It’s a very interesting journey – the Rand’s high point against the Euro was on 11th September 2010 and it remains to be seen whether we will EVER see it so strong again.

Nepotism Rules:
Have you got anything against a little healthy nepotism?
After all, family businesses are based on it, and there is an interesting history surrounding the practice of it. The word derives from the Latin word “nepos” (grandson, nephew). However the word as we use it originated from the practice of Popes in the Roman Catholic Church who would confer important positions to their sons! Since a Pope had taken the vow of chastity, his son was euphemistically called a nephew, and the conferring of these positions to sons became known as “nepotism”.

In the interests of nepotism (and the wider family business) therefore:

Accommodation in Cannes, Nice and the Cote d’Azur: If you are an owner wishing to let your property, or a visitor wishing to rent a self-catering serviced apartment or villa, you will find the widest choice and top and personal service to owners and guests with our son Lao’s rentals team. (His brother says: “with all those pretty girls, you must so hate your day job!” Jealousy! Jealousy!)

Contact him on lao@azurelive.org or visit http://www.azur-online.com/default.php

Innovative and Imaginative Architectural Solutions: Our second son Adam is a young and passionate architect working in a Cape Town based architectural firm, willing and waiting to take on your project. It might be a renovation or a brand new dream home, or creation of your perfect commercial premises; you’ll not find more dedicated architects anywhere. In this day and age geography is not the barrier it was.
Contact them at office@platformdesign.co.za
or on +27 (0)21 461 1095

Your home in Cape Town’s City Bowl, the heart of the “Mother City”: Our daughter Alice has been in the City Bowl for the last two years, and with her enthusiasm and experience in that highly sought after area, and her intimate knowledge of every nook and cranny in the lee of Table Mountain, she can find you what you’re looking for, be it an investment property or your dream home with spectacular views of the mountain and the beautiful Table Bay.
Contact her on +27 (0)74 155 7477

STOP PRESS.
The Headline article in our local “Nice Matin” newspaper – 12th October 2010.
“Marché immobilier : le manqué de stocks inquiète »
« Property market : the shortage of stock is a worry »

The article confirms what our day to day activity is telling us – stock is very short and the market is moving again. This inevitably will drive an increase in prices. The two go hand in hand.

To quote from the final paragraph of the full-page article:
“Concerning the market for resale property, the tendency in the west of the department (the Alpes Martimes) is to an increase, with, since last year, an increase in transactions of 31% in the area of Sophia Antipolis, and 35% in the Cannes basin. And this, in spite of an increase in prices of between 4 and 5% compared to last year.”

With kind regards,

Guy.

In the last month a few people have been in touch to ask if I have stopped sending Property Letters, or if their name has dropped off the list. I certainly haven’t stopped, and the list is intact.

The truth is that I don’t want to “bother” people with extra mail, so I try to write as infrequently as possible – or only when I really have something to say. I do not see the Property Letters as regular newsletters, but as information sheets which may be months apart, or in some cases come one after the other just a few days apart.

People who have received and read the P.L’s. over a longish period of time have built up a good basic knowledge of many aspects of the property market in France and particularly that of the Cote d’Azur, as well as a knowledge of the character of the region as I always try to include some general interest, and topical information about the coast and the market.

Life on the Cote d’Azur is part of the bigger picture for investors and I feel it is important to know something about it.

The 59th Cannes Film Festival 2006:

Today is the 17th May (although the letter may not go out for a few days) and as I write it is the first official day of the “Festival de Cannes” as it is called here. Town has been getting busier by the day for a couple of weeks, but this afternoon I drove down the Croisette as far as possible before being forced to turn off it, on my way to the bank. A large part of the Croisette is closed to all but official traffic for the next ten days. The atmosphere is vibrant – it’s a party, with huge stages erected out over the sea, radio stations broadcasting live from open studios on the beach, roof gardens adorned with lights and equipment, and more people both official and just curious than one can imagine. Outside the big hotels are “star spotters” fifteen or twenty deep, all hoping for a glimpse of Tom Hanks or Johnny Depp or whoever is in town. It’s a strange business!

This year the big films are The Da Vinci Code and Pirates of the Caribbean among others.

Posters and hangings the size of 4 storey buildings adorn the hotels, and the local newspaper tells us to expect 130 000 visitors to Cannes whose normal population is 60 000. We understand that 70 000 of the visitors are staying over! The city does a wonderful job – the gardens are spectacular, and the town is a picture of cleanliness and order. The streets and pavements are washed in the early hours of each morning, and the beaches beautifully raked and the sea cleaned of any bits of plastic, paper or other mess that might blow in there by frogmen with spears and floating garbage bags at dawn. The delegates and visitors from around the world must be impressed.

Tonight is the world premiere of The Da Vinci Code and last night the world press got a preview, so of course today the papers are full of criticism – and most of them seem to think it’s weak. I’ll bet it will be a box office hit though as so many people have read the book.

(Vicky and I were trying to remember and I think last year the famous “Palme d’Or” was won by outsider Fahrenheit 9/11 although the biggest film seemed to be Star Wars which had its world premiere here amid much fanfare and glitz.)

Of course over the course of the next two weeks dozens of prestigious category prizes are awarded, but the Palme d’Or is the biggest single prize.

Unlike the Oscars however, the Cannes Film festival is primarily a “trade fair” of the movie industry, with representation from every major film producing company and country in the world. Last year Vicky and I were lucky to be invited to the South African screenings of at least 8 short (16 minute) films of enormous impact, as well as the feature length “A Boy Called Twist”, the story of a Cape Town street kid presented as a latter day Oliver Twist.

There is such talent in countries not renowned for their film industries, and today there are posters up around Cannes from China, and every Asian country, from South America, Africa, and of course Europe, North America, Aussie and New Zealand. The first week is production and technical week, and the second is focused on marketing and sales business. Billions of dollars worth of contracts are concluded here, and contacts made that result in business down the line. Nothing can replace the intimacy that comes from face to face meetings with others in the industry, and that is what Cannes is all about.

Next year is the 60th FESTIVAL DE CANNES and there are already plans to make it a memorable one. I look forward to it very much as I believe that the City of Cannes and the Industry will work together to put on an unforgettable show.
Watch this space…..!

Rentals:

Of course for these two weeks Lao and his team are rushed off their feet, with every space available booked. However this is our fourth film festival and it is interesting that we can detect a very real change in the market.

When we started here Film Festival delegates were thankful to book two weeks of accommodation at whatever price they were quoted, or in some cases a full week although they might only be in town for a few days! Today they are far more pricing sensitive, and if they are coming for 3 nights they only want to pay for 3 nights. Reasonable enough certainly, but not long ago the industry here took advantage of the hapless delegate, which is no longer acceptable – not to us or to them. From our point of view it has resulted in a great deal of very hard work as instead of full weeks booked, we are doing changes and cleanings and transfers every day, and at all hours. And the prices are not as high as they were.

It is interesting that working on the ‘service provider’ side of the industry we see a side of visitors that others don’t. Many of the film crowd are actually quite rude and difficult – it seems that many of them purport to be little directors (or dictators), requiring of special recognition or treatment. The Cannes Lions advertising delegates on the other hand, who are due in June, couldn’t be nicer or more polite. Similarly the MIPIM people are a pleasure to deal with. These are generalisations grounded in the experiences of our team, but they would also agree that the happy and satisfied customers, and the fun the team has together in spite of the stresses, and the good people we meet, and the positive environment we are privileged to work in more than make up for a few grumpy film people!

Certainly the industry is a great deal more demanding than anyone ever admitted to us before we started! French official red-tape is endless, customers are hard to please (especially the film ones!), and labour is very expensive.

We have however established ourselves very securely and happily in the market, and our apartments are achieving from 15 to 20 weeks of rental per year, covering their costs, and contributing towards loan repayments depending on the level of mortgage that the investor has opted for. Our target has always been to achieve 50% occupancy, or 28 weeks a year and that remains our target. We hope to get there in the next couple of years, but given that an investment in Nice, St Tropez, or anywhere else on the Mediterranean is likely to aspire to 9 weeks of summer rental and no more, Cannes is still a very attractive investment location.

Add to that:
- Capital appreciation still runs at over 15% p.a. (Official figures and documentation available on request.)
- Our teams are here on a permanent basis to very personally manage and administer investments.
- This is the centre piece of the Riviera, a great place to invest in and to visit for pleasure, and an enduring magnet to the wise and successful from around the world.
- The stock market hasn’t been very kind for a long time. The FTSE having popped its head up and over the 6000 mark for a little while has dropped well below it again.

Investment Models:

Until now we have advised, and built our business on one model only:

1) Individual ownership. Individual investors (or small partnerships) have identified a property or properties from what we are able to offer after a careful selection process, and bought those properties with or without credit, in some cases to enjoy themselves, but have usually also required us to manage and rent those properties out for them. It is tried and tested and it works.

However in the last couple of months I have been approached by different people with two other ideas and they are:

2) Fractional ownership. The person who contacted me has extensive experience in the field and is interested in our identifying suitable properties, small at first to suit a group of about 4 investors. He would take on the administration of the group, and manage its growth into other and larger projects as time goes on, while we would as usual cover the management and administration on the ground. If this is interesting to you I would like to put you in touch with him, and see what we can build together using this new (to us at least) and different investment model. Please contact me if you are interested?

3) New builds off plan. Again, the people who have contacted me have extensive experience in the field. Their proposal is that we identify suitable new-builds in the area, and develop a group investment in such a project. There are many advantages for the investor, not least of all that one usually sees a very quick and real increase in value the moment the building is completed, and finance is available in interesting packages for this sort of investment. Please contact me if you are interested in this option.

In both cases, as the territory is new to me, I will rely on the professionals I have mentioned for their expertise.

Availability:

When we first arrived in this market four years ago Cannes was festooned with “a Vendre” (for sale) signs hanging from buildings and their balconies and windows everywhere. There was a lot of stock available. Today that is not the case – from where I sit now looking up and down the street, I can not see one. There are estate agents on every block, but they share the same stock! The roperties displayed in one estate agent’s window are likely to be the same properties displayed in quite a number of others – different photos perhaps, but the same properties.

From the limited choice that we have to look at, Vicky and I are still managing to select some very good investment properties, but it is not easy. We have some specific orders that we can not fill right now, and we have to ask those people to be patient, because we will find the right property, but the choice we once had is not there today. It will probably take a little longer.

From all of this I deduce that the market in property in Cannes is very strong. That is borne out by the steady increase in prices that we have seen in the last four years, and the very comprehensive analysis from the Chamber of Notaries tracking the market trend, based on all transactions in the region since 1998. (Ask me if you want a copy – in English).

Please remember that I am always more than happy to enter into a private discussion with you – to write or talk to you individually when you are ready to, or want some more specific information. And equally, should you wish to be removed from the mailing list, please just ask me.

With kindest regards,
Guy.

Valentines Present for South Africans.
In the budget presented to parliament on 15th it was announced that exchange controls have been relaxed – the limit of R750 000 that an individual may externalize was raised to R2 million. That makes R4 million per couple, and more per family, and although it does not represent the abolishment that some were hoping for, it is a considerably better situation than before.

A (very short) French Riviera History.

Vicky has been reading about the early days of this amazing coast. Some of it is quite fascinating:

The Ancient Greeks were active here 500 years B.C. and Nice was known as “Nike” after the Greek goddess of victory (perhaps they also made sports shoes?). Antibes and Sophia Antipolis were also major Greek settlements, as was the City of Masallia which is Marseilles today.

The Romans so loved it here that many elegant holiday villas were built up and down the coast, and they even published tourist guides and travel itineraries to the region. Their great road or “Via Julia Augusta” made travel possible (before Christ was born!) and improved the security of the people, and buildings and monuments from the period can still to be seen today. The magnificent Trophy of Augusta at La Turbie, overlooking Monaco at the Roman “gateway to the Alps”, can be seen for miles around although it is only one third the height it once was. (Hannibal, the famous general from Carthage just outside modern day Tunis had used the same route from central Europe to cross the Alps southwards with his elephants to fight the Romans 200 years B.C.).

The great Roman port of Frejus (between Cannes and St. Tropez) can also still be visited today, but it was silted up and is now 3 kilometers inland. It was such an important port that in the days after Julius Caesar when factions were competing for power, Augusta captured 300 ships from Anthony and Cleopatra at the battle of Actium – and he hid them in Frejus!

A couple of hundred meters from where we live in Le Cannet a Roman Road still exists today, and we run on it as it is for pedestrians only, following the contour through the hills high above Cannes for more than 5 kilometers. The views from it are breathtaking especially in the early morning.

From about 5 – 600 years A.D. the dark ages set in. It was a time of lawlessness, rape and pillage by Goths, Visigoths, Vandals and Saracens that lasted many centuries. The local populations were so terrified that they constructed fortified hilltop villages and lived in them in abject fear. Today those villages are the most charming to visit, higgledy piggledy and precariously placed they are called the “villages perche” or “perched villages” of our region. Some are very touristy now, but others are still difficult to get to. Examples are Eze, Gorbio, and Castellar. They were so isolated for so long that different villages developed their own and very different languages.

The middle ages saw some improvement and political coherence, and about the 13th century – the age of the troubadours – the region slowly began to unite with France. Ultimately under Napoleon the French Riviera as we know it today and the Alpes Maritimes became formally a department of France, known as “Provence”.

The first modern travelers arrived in the region in the late 1700’s and as one author writes “…they saw their country as Rome’s successor. Insular, presumptuous, ignorant of foreign languages, arrogant and, above all rich, they were, of course, English.” Between various wars, they came in unprecedented numbers, and for them it was the winter warmth that was the most obvious attraction – an escape from the grey, windswept British Isles. However the Riviera also held the promise of peace, freedom, self-indulgence and self-expression – and fun, health, escape, sex, leisure, companionship, artistic inspiration, and above all happiness.

And the English, the Russians, the Americans and almost everyone else have come here in their droves ever since.
Nine million people visit the Riviera each year.

(You may not get this until next week, but today as I write it is the 23rd February. A kind friend just took Vicky and I for lunch at a restaurant on the sea front, and although Europe is currently freezing, we had our lunch in the sun and there were people sunbathing, some swimming (!!) and a flotilla of perhaps fifty or more small yachts out on the water involved in some sort of regatta.)

I hope there’s some food for thought – investment opportunities in this vibrant, warm and charming coast still abound, and the popularity of the region endures – long term.

With kindest regards from us both,

Guy.

Vicky and I wish you a very happy, healthy and prosperous 2006.

Time flies.
My first Property Letter was sent out to a small group of people on 17th April 2002 – nearly four years ago. Our first paying guests were delegates to the GSM conference in February 2003 – just three years ago. The Property Letter now goes out to over 300 interested people.

Why should you be interested in Property?
I have been reading Robert Kiyosaki again – I quoted from him in my early Property Letters, and will again. I recommend that anyone interested in some easy to understand reading about investment should pick up almost any of his books. Whatever his subject he always returns to his favourite investment – property! Then to his second – buying businesses and growing them. Paper (unit trusts/mutual funds/shares) come right at the bottom.

In the introduction to his recent “Who Took My Money? Why Slow Investors Lose and Fast Money Wins!” he compares two investors in the U.S. who each had $10 000 to invest.

In 1992:
Investor 1 put his $10 000 into stocks (a mutual fund) – indexed to the S&P 500.
Investor 2 put his $10 000 into a property worth $100 000. He borrowed the $90 000 shortfall from the bank.
In 2002 – ten years later:
Investor 1 had increased his wealth to $17 397 based on the S&P 500 index.
Investor 2 had increased his wealth to $158 673 based on the official “average single family home value.”

Investor 1 made a “good, simple and safe” investment – so he thought. As Kiyosaki says “For most mutual fund managers the S&P 500 is their benchmark to beat; unfortunately, very few beat it.” (Did yours? What was your share portfolio worth in the1990’s and what’s it worth today?)

Investor 2 leveraged his $10 000 and borrowed to buy a property (which is something you can’t easily do to buy shares). Over the next ten years he saved on rent and used the money to pay off his house instead. The increase in the value of property exceeded the interest he had to pay on his mortgage. He has reaped as his reward the entire increase on a $100 000 investment for which he only had to put down $10 000. The house is now his – as the mortgage is paid off. His modest investment of $10 000 has multiplied for him nearly sixteen fold in ten years!

Property is good.
You don’t need much of the purchase price in cash to buy the property you want. (Leverage)
You don’t have to sell the property to reap the benefits of your growth. (Re-mortgaging or refinancing – further leverage)
You don’t have to monitor your properties closely from day to day because the market is not volatile.
Property prices tend to increase smoothly and consistently.
Property has exceptional and privileged tax advantages.
Fluctuations of any one property’s value relative to the average for any area are very slight. (20 square meters in Adderley Street is likely to be priced similarly to any other 20 square meters in Adderley Street)
It is not difficult to locate a geographical area or region or city where you are going to do better than the national average.
It is a relatively simple, reliable and consistent investment, with cash and wealth building potential. (From rentals and capital appreciation respectively)

What if property goes bad?
If the market “collapses” it is likely to revert slowly towards zero growth. In some instances it may even go negative for a spell (as in parts of Britain in the early 90’s). But you will still have your investment – the property. It can’t and doesn’t evaporate as stocks and shares can and do, and the nature of property is such that movement up or down is not dramatic. The swings are generally in the form of trends, and inevitably there is slow recovery after a slow downturn. If you want excitement, look elsewhere than property!

What about Cannes?
Cannes is the “beating heart” of the French Riviera!
Cannes is also the major centre of conferencing and festivals for France (along with Paris).
There are more visitors to France than to any other country on earth. (That is a fact)***We can not borrow 90% as the American in the example above was able to. Europeans / Americans / Aussies can borrow 70% or 80% in France. Southern Africans can normally borrow 50%.
Interest rates are about 3%.
Capital appreciation in Cannes has averaged over 15% p.a. since 1998. (Official figures). There is often talk of a slowdown but no evidence.

A very typical performance.
I buy a Cannes property for 250 000 euros and put in half in cash.
My investment 125 000
Legal & transfer (7%) 17 500
Consultancy (Guy 2.5%) 6 250
My total investment 148 750
My loan (standard mortgage) is for 125 000 euros over 15 years at 3.1%.

My monthly repayment is 815 euros.

(If I choose the “interest only” option which is becoming available from certain financiers now, with a long term loan secured against a life insurance policy, the repayments are about 30% lower. This route has other advantages and much fuller information can and will be given when financing options are discussed.)

Assume that I bought the property at market value:–
In year one I gain 15% in capital appreciation on my investment, and 15% on the investment of the bank (both to my account – think about that).
Add to that my equity buildup – I own more of the property at the end of the year because some of the capital has been paid off – about 5%.
Add to that the tax savings that accrue from investing in property – say 10%. (This will vary depending on the source of your funding – UK, SA, offshore, etc – but most of us would have been paying some tax, somewhere, and the saving is very real.)

The return on my investment (r.o.i.) of 148 750 euros is approximately:

Capital appreciation 25.21% (37 500 on an investment of 148 750)
Equity buildup 5%
Tax shelter 10%
Total r.o.i. 40.21%

My net worth has increased by almost 60 000 euros (45 000 euros if I do not consider the tax shelter to be relevant in my circumstance).

(I hope that I would, through my agents, have been able to negotiate a purchase price a little below market value for my investment. That saving will go straight to my bottom line, and add to the already impressive first year gain.)

What part do Guy and Vicky play?
We just happen to be here.

We spend much of our time searching out the best investments that we can find. We try to identify properties that are selling at below market value – in many cases very significantly below market value. At the least we try to ensure that the properties we recommend are value properties, with every advantage from both a rental and capital appreciation point of view, and that they are properties that we can recommend with a very clear conscience.

If you decide to invest we will help you to get credit if you want it, look after your property if you wish us to, and rent it out for you as much as we can, helping you to cover the mortgage and running costs.

Many have now invested and those who have are generally very happy. Some have decided to turn over their investment and do the same again – effectively they are transferring their investment into something more valuable, with the potential to do again what their initial investment did – increase their wealth. Some are managing to do that without injecting more capital!

*****Therein lies another of the beauties of property as an investment.

Are some using their investment for their pleasure? Absolutely!
More and more of our investors are coming to Cannes to enjoy quality time in their apartments, and explore the beautiful coastline and countryside that they now own a small part of.

*****Another advantage – property as a pleasure – you can’t live in your share portfolio, or get much pleasure from it!

So there you have some thoughts for 2006.
I hope they are stimulating, and make some sense to you. I know that in 2002 when we started it seemed a huge and almost unthinkable step for many of you to invest in France. It’s so far away for some – perhaps it seemed like a crazy idea. But some did anyway, and those people have reaped their reward, and continue to do so today, and tonight while they are asleep, and tomorrow. Many (not just a few) are doing it again.

Have you missed the boat – are you too late? Of course not – there are boats leaving all the time.

All the best to you and please stay in touch,
Guy.

The property market in Cannes has not cooled. It is sometimes suggested that it “has” or that “it will”, or that “it is inevitable”. I believe the truth is that it will be subject to a leveling out from time to time (in the future), but see no reason for it to drop.

Today there is no evidence that there is a surplus of supply – in fact there are few advertisements hanging from the buildings to announce properties for sale, and agency windows are full of the normal pictures of apartments for sale, but many are duplicated all around town, others have been there a long time, and still others are there for decoration only and enquiry reveals that the property pictured is in fact no longer for sale.

We are not finding it easy to find suitable properties to propose to investors, and we are not finding an easing of prices.

Below is the best selection from what we have available and the list includes some very good investment options, as well as some beautiful second homes for those that are in that market.

Vicky and I wish you all a very happy Christmas and a relaxed and refreshing festive season, and all the very best for a wonderful 2006.

With kind regards,

Guy.

Most of you access your bank accounts on internet. If you don’t but would like to, please let us know and we will help you to get started.

Many of you have had difficulty deciphering your bank statements, and I’m not surprised. So to help a little I shall give you some translations.  Remember that France went to the Euro a few years ago, and will continue to express every transaction in both Euros and the old Francs for a period of 5 years. So the right hand column is Francs.

At the top of your statement you will see “facilite temporaire autorisee” – temporary facility authorized – which means you have a small authorized overdraft facility of 300€ after which debits will bounce. It helps take account of ups and downs, but we don’t view it as a facility to be used as a source of finance in any way.

Abonnement = subscription or standing order
Cotisation = contribution (or another word for subscription)
Divers = miscellaneous (charges)
Echeance – due date
Facture = invoice
EDF-GDF = Electricite de France – Gas de France (your electricity/gas account)
Frais = expenses or fees
Lyonnaise des Eaux = your water account
Mensuelle = monthly
Montant = amount
Prelevement (or Pre.) = debit order or direct debit
Reglement = settlement
Releve = statement (releve de banque = bank statement)
Remise de cheques = cheque deposit
Renseignement = enquiry
Solde = balance
Trimestrielle = quarterly
Virement = electronic transfer
Versement = payment
Especes = cash
Demande emission cheque = bank cheque

Many people have recently asked to be included in mailings and the questions most commonly asked of us are “Who are you?” and “Why are you in France?” People seem intrigued that a family of foreigners is running an organization in France that provides a ‘total solution’ in property investment, management and rental for non-French investors. (For those who have been on the mailing list for years, and you’ve heard it all before, please skip the next bits and come in at “Capital appreciation update”. That’s really interesting.)

Some answers.
The past:
My family has been in Zimbabwe for generations. Our farm to the south of the capital Harare was home to three generations of Watson-Smiths when we were forced to leave it. It was a successful large scale farming business, producing food and generating foreign currency, and providing employment, housing and schooling for 300 families. We also owned a trucking company with 30 or so long haul vehicles serving local commercial agriculture, and operating on cross-border routes in Southern Africa.

It all ended in 2001when we were given an hour to leave our farm and home (by someone very powerful who believed he had more right to our farm and moveable assets than we did!). Shortly afterward we had to leave the country without the chance to reclaim or to sell anything left behind on the farm. It was very sudden and we lost everything. Fortunately however we were able to sell the haulage vehicles and equipment, sadly not as a going concern, but piecemeal on public auction for a fraction of their value. It was better than nothing.

This all marked the end of an era for us in one sense, but it also marked a new departure and the beginning of a brand new life, made possible through wonderful family help and support.

Although we love South Africa and it has been kind to us we decided not to invest what little we had managed to salvage there. After a number of generations in Africa the thought of settling in Britain was not attractive. Australia seems a long way away given the difficulty of keeping in touch with loved ones in different time zones. However we love the south of France, have been here often on holiday, and speak the language.

Therefore France was our choice, and property was our new direction.

Just over four years after we last saw our home on the farm, we have a family property business in Cannes.  Our earliest clients were almost all friends and family from home, and then friends of friends, and so the network grew. Today our clients come from all over the world.

The present and the future:
We identify investment properties through a process of careful selection, and once we have matched them with their eventual investor/owner, we help that person through the process of obtaining finance, and all the legal steps that lead to ownership. If renovation, furnishing and decoration are required we organize and oversee it if the client wishes us to, and then we market and rent the property if required, and manage its administration.

Some clients have become regular visitors to their new properties in France enjoying holidays here when they can, and many have yet to visit. We love it when they eventually do, and we have the chance to show them around their very own little piece of France. For Vicky and I it is a highlight when owners visit, and more than anything else, it makes what we do here worth while.

Property Letters:
I stay in touch with interested people through them, and use them to highlight investment properties which we believe to be worth while. I also try to convey useful and topical information about the market, and the French Riviera in general. You can de-subscribe by clicking at the bottom of this or any of my letters, but we are happy to add the names of your friends and relatives if they are interested too. Many have been on the mailing list for years and have not been able to invest, but continue to receive the letters because they find them interesting, or hope that one day they may be able to join as investors. All of you are welcome.

The style of my letters is personal, and that dates back to when I knew everyone on the mailing list. I still feel that I do or that I would like to, and whereas I could easily get professionals to knock my letters into ‘good marketing shape’ before distribution, I prefer to keep it this way. It suits me, so please forgive me if they are a little long sometimes.

In the final analysis, although we are undoubtedly in business together we enter into an intensely personal relationship with every new investor, and that relationship grows as the years pass because we normally end up as custodians of a very, very important piece of their hopes, savings, plans and future – a piece of French real estate – a business, an investment and an ongoing pleasure.

Capital appreciation update
On Friday the 23rd September the front page of our main regional paper, the “Nice Matin” headlined “Immobilier: +15% dans l’ancien a Cannes”.

The articles and tables which follow show that in “l’ancien” which refers to buildings over 5 years old between June 2004 and May 2005, the increase in values based on sales in the “Cannes Sector” was 17%. Cannes Centre rose by 15%, but the suburbs of the Seafront and Le Cannet rose by 18%, and La Californie by 19%.

Interestingly for us who are involved, the highest increases in the whole region were in Mougins and Grasse at 22% and 21%, and the reason given is that they are experiencing a significant increase in demand due to their proximity to Cannes!

This is an exciting part of Europe to be in, and whereas we all know that past performance is not necessarily a reflection of future performance, the French Riviera has been a “Star” in Europe for 120 years, and there is no doubt that you can not put a price on sunshine and fabulous weather. Furthermore, (without naming names) some of us have traveled a bit this summer and checked on the opposition! The contrast with other heavily marketed “sunshine spots” in Europe in terms of cleanliness, environment, planning, history, culture, services, food and wine, and the list goes on…..is huge.

We are sold on the French Riviera and Cannes in particular. This is the place to be, and very many agree, which makes Nice the busiest airport in France after Paris’ Charles de Gaulle.

17% of all purchases in our region in the year ending May 2005 were by foreign buyers.

Financing:
When we started in 2002 we were borrowing at 4.1%.
Today standard mortgage rates are only 2.75%.
The “interest-only” option requires a deposit on investment of only 20% from European investors and about 50% for Southern Africans, and the rate is 3%. A very attractive characteristic is that once the monthly repayment has been calculated it does not change irrespective of what happens, making budgeting very easy. If rates change it is the duration of the loan that varies upwards or down by a few months, and not the monthly commitment.

There is increasing flexibility with regard to early repayment of loans after a short initial period, transforming them into different vehicles, revaluing, re-mortgaging, and rolling over and upgrading. Some of our investors are now enjoying the benefits of this flexibility as new and innovative products are introduced. The financial sector in France is modernizing, becoming more competitive, and increasingly customer-friendly at a rapid rate.

Borrowing at 3%, partly self financing through rentals, and reaping a 15% capital growth has proved to be an attractive and profitable investment option for many. Will it continue? Few people are predicting anything more than, perhaps, a slight flattening of the market at some time. This ever-popular region is most likely to remain so for many good reasons.

With kind regards,
Guy Watson-Smith.