Homes _Property Homes abroad by chenmeixiu


									8                                                                                                                                                                       WEDNESDAY 4 AUGUST 2010 EVENING STANDARD

Homes & Property Homes abroad                                                                                                                                 


    A home in France, close to Monaco, can offer
    all the style of the Côte d’Azur without a
    dazzling price tag, says Cathy Hawker

            OMMUTING is a fact of life                                                                                                                                            From £236,900: St Endréol in the
            for millions of us, but few                                                                                                                                           Palayson forest between Cannes and
            journeys are as scenic as                                                                                                                                             St Tropez has 25 newly completed
            the daily commute from                                                                                                                                                and fully furnished two-bedroom
            France into Monaco. Each                                                                                                                                              leaseback apartments
            day the 40,000 workers
who cross the border into the tiny                                                                                                                                                both Nice airport and Aix-en-Provence.
principality enjoy panoramic views                                                                                                                                                There’s a hotel, spa and 200 properties
along the dazzling Côte d’Azur.                                                                                                                                                   spread through the 350-acre grounds.
                                                                                                                                                                                  The resort opened in 1992 but new to
A PIECE OF MONACO                                                                                                                                                                 the market are 25 completed and fully
Three out of four salaried workers in                                                                                                                                             furnished two-bedroom leaseback
Monaco live in France and that’s no                                                                                                                                               apartments priced from £236,900 to
surprise when you look at the price of                                                                                                                                            £293,360 for 710 to 775 square feet.

property. According to the latest                                                                                                                                                   Property is offered with guaranteed
figures from Savills, Monaco property      £528,120: a two-bedroom apartment in an Edwardian palace (left) in central Nice (right) surrounded by private gardens.                 rental returns from 3.3 per cent with
can hit £4,000 a square foot, making       The flat comes with high ceilings and original ornate plasterwork. Through Winkworth France (020 8576 5582;               six weeks personal use each year.
it the priciest anywhere in the world.
  So imagine how smug residents in         Hauts de la Principaute, an existing        one-bedroom resale apartment with          boutique developments where most                THE GOOD LIFE IN NICE
Beausoleil must feel.                      building in Beausoleil that will be fully   underground parking at Villa Royale,       units are sold to the French. Buyers            The Promenade des Anglais is one of
  This French town sits immediately        refurbished and modernised by June          a seven-floor block that overlooks the     seem to prefer this way of living.”             the priciest parts of the vibrant city of
above Monaco overlooking the same          2012 to create 76 studios of 291 to 398     Grand Prix circuit and bay of Monaco.        Ten minutes from St Tropez, in                Nice in which to own an apartment.
azure blue sea but prices are only a       square feet. The studios, all with          The apartment, bought off-plan in          Cavalaire-sur-Mer, Erna Low is selling            This three-mile seafront boulevard
fraction of Monaco’s at just £730 per      terraces and parking, are 10 minutes        2008 by an Irish investor for £321,800,    the last of 26 new three-bedroom villas         planted with palm-trees and mimosas
square foot — that represent real value    from Monaco’s Larvotto beach and            is a distressed sale priced at £311,920.   and pools at Domaine de L’Eilen. Prices         is lined with modern apartment blocks,
in comparison.                             priced from £189,800 to £222,700                                                       start at £561,400 for the fully furnished       elaborate bourgeois buildings and
  “Beausoleil is half an hour from         through France’s leaseback scheme.          A VILLA IN ST TROPEZ                       villas, which have a guaranteed rental          towards the narrow streets of Nice Old
Nice and beautiful,” says François           Owners receive a 3.8 per cent             “There has been a noticeable change        return of 3.7 per cent.                         Town, flat-fronted Niçois buildings.
Marchand of Erna Low Property.             guaranteed rental return and do not         in the French property market,” says                                                         “Prices are lowest to the west where
“There is attractive property, plenty of   pay VAT, in return for allowing the         Joanna Yellowlees-Bound, Erna Low          NEXT TO A SPA                                   the Promenade is noisier and curves
shops and restaurants and Monaco is        management company to rent out the          CEO. “There are now few large, off-plan    Further north and inland from Fréjus,           away from the sun,” says Chuck McGee
across the street. It’s a way to have a    studio. French investors have bought        developments being snapped up by           Les Domaines de St Endréol is an                of Winkworth France. “A reasonable
piece of Monaco for very little.”          51 apartments to date.                      Irish and British buyers.                  attractive and established golf and             three-bedroom apartment there starts
  Erna Low is selling apartments at Les      Also in Beausoleil, Erna Low has a          “Instead we are sourcing smaller         leisure resort less than one hour from          at just under £495,120. Prices double
                                                                                                                                                                                  as you get nearer to the city centre.”
                                                                                                                                                                                    Winkworth has a three-bedroom
                                                                                                                                                                                  1,507 sq ft apartment in a 1900s build-
                                           THE EASY WEEKEND DESTINATION                                                                                                           ing near the centre for £1.2 million, and
                                                                                                                                                                                  nearby, a two-bedroom apartment in
                                           DAVINA Fox-Hill, 44, owns three             three- or four-month rental over the                                                       an Edwardian palace for £528,120.
                                           apartments on or close to the               winter,” says Davina. “Nice is an easy                                                       A 600 sq ft east-facing apartment over
                                           Promenade des Anglais in Nice which         weekend destination from London.                                                           the port is £259,940.
                                           she manages and rents out through             “There are around 20 flights a day
                                                      to London and Nice airport is a                                                            FACTFILE
                                             She renovated all three flats herself,    10-minute bus ride from the                                                                ■ Erna Low Property: ernalowproperty.
                                           keeping original parquet floors and         Promenade des Anglais. Nice is a                                                             com (020 7590 1624)
                                           fireplaces wherever possible and            cosmopolitan city with a wonderful                                                         ■ Winkworth France:
                                           furnishing with French antiques.            climate — that’s why I live here.”                                                           (020 8576 5582)
                                             “The apartments are guaranteed to                                                                                                    ■ BA and easyJet fly to Nice daily from
      Keeping busy: Davina Fox-Hill        rent from the start of May until the        ■ To rent Davina’s apartments go to        £561,400: three-bedroom villas at                 London Heathrow, Gatwick and Luton
      manages three flats in Nice           end of October and often I get a                       Domaine de L’Eilen, in Cavalaire-sur-           ■ Allow 10 per cent of purchase price
                                                                                                                                  Mer near St Tropez. Erna Low Property             for buying costs in France

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