Real Estate RoyaltyIyna Bort Caruso
The sunlit South of France casts a brilliant glow on the region’s abundance. The area known as Provence-Alpes-Côte d'Azur covers a slice of France with near fairy-tale riches. Within a short drive, one can travel from an Alpine peak, pass lavender fields, vineyards and medieval villages and end up on the glorious Mediterranean coast.
This historically stable and resilient property market has long attracted European elite. Buyers from the U.K. famously make their playground here but the locale has a global stature. The region borders Italy to the east, the Mediterranean to the south, the Rhone River to the west and the foothills of the Southern Alps to the north. Sea and hills have limited buildable land, but there are plenty of other reasons, too, why this turf is in such demand for second and third homes.
Nice is the largest city in the region. Prized real estate is found in seafront apartments along the Promenade des Anglais. Cannes is known for cinema’s red carpet royalty. The Cannes Film Festival brought instant glamour to the city when it launched in 1946. After that, there was no going back.
A coveted stretch of real estate lies east, between Nice and Monaco. The closer to Monaco, the higher the home prices. This is the territory of the ultra high net worth crowd. Prestigious seaside properties, including coveted Belle Epoque-style estates, in the communities of Cap Ferrat, Villefranche-sur-Mer and Beaulieu-sur-Mer are the reason it’s known as the Triangle d’Or--the Golden Triangle.
Homes in coastal towns within sight of the sea fetch the highest prices, but ruggedly chic villas further inland attract their share of vacation home buyers.
There’s room for it all in Provence-Alpes-Côte d'Azur--a place for those who love the lofty and those who prefer the low-key.