Monaco prices drive buyers to neighbouring Roquebrune

7th August 2013

The sovereign state of Monaco in the French Riviera has remained the most expensive real estate market in the world for the second year running, with luxury property today costing anywhere from €43,174 per square metre €47,774. Yet whilst Monaco continues to attract international wealth, its burgeoning market is also having an effect on surrounding towns by driving buyers who have been priced out of the immediate area, reports Athena Advisors. 

“Monaco’s market is highly prohibitive to most lifestyle and investment buyers, yet it remains one of the most popular destinations in the Cote d’Azur,” commented Nicholas Leach at Athena Advisors. “The result is that there is a considerable market overspill into the surrounding towns, especially from people who want that dream property on the south coast of France. Monaco’s neighbouring town of Roquebrune-cap-Martin is a perfect example; it has the beach, the bay and the harbour, it is only 5km from Monaco and yet prices are a fraction of that of Monaco.”

Last week Athena Advisors launched a collection of high specification apartments in Roquebrune-cap-Martin, positioned just 150m from the Mediterranean Sea. With prices for the studio and one to three bedroom apartments starting from €140,000, these properties provide a highly affordable way to own a brand new luxury Riviera property within touching distance of Monaco.

“This was the first time we have launched a development in Roquebrune and the response has demonstrated the demand this area has,” added Leach. “We received over 200 enquiries in the first few days and since then the reservations have been coming thick and fast. Roquebrune itself is a beautiful town, but its location near to Monaco is a big attraction.”

Famous for the Monte-Carlo Rolex Masters tennis tournament and its imposing castle, thought to be the oldest in France, Roquebrune-cap-Martin is a picturesque coastal town. Its rich Roman history is felt everywhere, with narrow streets, charismatic fountains and wrought iron balconies. From its commanding hillside position, the town offers breathtaking views of the coast towards nearby Monaco.

Called Riviera Rhapsody, this highly rare collection of new build apartments enjoys a dominant position close to the sea front and just a few hundred metres from Roquebrune-cap-Martin’s many different shops, restaurants and cafes. Many of the properties enjoy panoramic views over the Mediterranean Sea. International access is made easy with Nice Cote d’Azur International Airport situated just 30km away.

Built by France’s premier developer Cogedim, these properties feature the high specification interiors for which this company have become synonymous. Riviera Rhapsody has been designed to maximise the use of light in every apartment. Clean lines and luxury finishes provide a level of finish well above the industry standards for new build property.

Prices for the properties range from €140,000 for a studio apartment to €532,000 for a two bedroom apartment. For further information please contact one of our French property experts.

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