French Riviera

The Riviera coastline from Cannes to Fréjus runs for close to 100 kilometres and is one of the most highly valued property markets in France. It is organised around two complementary poles. The first — Cannes, Mandelieu and Théoule-sur-Mer — serves an international clientele, conference visitors and second-home owners looking mainly for high-specification apartments and villas with sea views. The second — Saint-Raphaël and Fréjus — is more residential in character, driven by a growing population where main and second homes, apartments and villas all coexist.

Property geography

According to INSEE, the permanent population is around 74,000 in Cannes, 23,000 in Mandelieu, 1,500 in Théoule-sur-Mer, 36,000 in Saint-Raphaël and close to 60,000 in Fréjus. Those figures reflect the area only imperfectly: its actual occupancy is greatly amplified by second homes, which are one of the principal drivers of the property market.

While second homes average close to 22% of the housing stock along the Riviera and Var coast, their weight reaches exceptional levels in some communes: 44% in Cannes, 43% in Saint-Raphaël, 75% in Théoule-sur-Mer. That concentration attracts buyers with high purchasing power and reinforces the market's character as a store of wealth.

The housing stock is predominantly apartments, which make up more than 70% of homes in Cannes, Théoule-sur-Mer, Saint-Raphaël and Fréjus. Demand centres on studios and one- or two-bedroom flats with a terrace, a sea view, a secure development with a pool, a garage and immediate proximity to the beaches. Higher up the range, the market turns to contemporary villas, Provençal bastides and exceptional properties offering large grounds, high-end finishes, pools and panoramic views.

The property market

The market is sharply segmented. Cannes is an international market driven by the conference trade, the Film Festival, the Croisette and a demanding foreign clientele. A property's value often depends more on its neighbourhood than on the commune itself, with very wide price gaps between the town centre, the Croisette and the most sought-after districts.

Between Mandelieu and Théoule-sur-Mer, the upper end of the market rests on an exceptional setting that combines the Estérel massif, the Mediterranean shore, the marinas, the golf courses, the proximity of Cannes and the Cannes-Mandelieu and Nice airports. The quality of the view, the aspect, the quiet, the terraces, the pool and access to the sea are the main drivers of value.

Saint-Raphaël occupies a strategic position between Cannes and the Gulf of Saint-Tropez. Its market is unusually varied thanks to a large permanent population, a substantial stock of second homes, a balanced supply of apartments and villas and excellent road and rail links. Fréjus, whose population is growing strongly, is the area's main residential centre, with a majority of main residences and a market geared more towards families, retirees and buy-to-let than towards the very top end.

A very accessible area

Accessibility is one of this area's principal strengths. The coastal railway links Cannes, Mandelieu, Théoule-sur-Mer, Saint-Raphaël and Fréjus, while Saint-Raphaël-Valescure station offers frequent regional services to Cannes, Nice and Monaco as well as high-speed trains to Marseille, Lyon and Paris. Nice Côte d'Azur airport, France's second-busiest, serves more than 120 international destinations and contributes directly to the region's property appeal. Cannes-Mandelieu airport complements it, handling mainly business and private aviation.

The A8 motorway is the main road link between Cannes and Fréjus. Beyond that, towards Sainte-Maxime and Saint-Tropez, journeys are made largely on departmental roads, where traffic becomes particularly heavy in summer. The Palm Bus and ZOU! networks serve the Cannes basin and the coast effectively, while the sea links connecting Cannes, Mandelieu, Théoule-sur-Mer, the Lérins islands and, in season, Saint-Tropez, illustrate how multimodal travel on the Riviera has become.

This diversity of buyers, uses, price levels and infrastructure makes the Cannes–Saint-Tropez coastline a genuinely complex market. My experience of the area and of wealth structuring over 18 years allows me to read its specifics and to advise main-residence buyers, investors, second-home owners and international clients alike.