Cannes Property

Cannes PL72: PROPERTY LETTER 28TH May 2008

LoveNotWar — Thu, 29 May 2008 15:49:27 +0000

PL72: PROPERTY LETTER 28TH May 2008

Dear All,

Word gets around and many of you have heard that I had a medical problem while back in South Africa recently. We have had many kind letters and phone calls and we appreciate them all very much. Thank you. I had a laminectomy and an angiogram (big words I didn’t know before) and the good news is that although there was a bleed into my spinal column there was no tumour, and no further treatment is required once the wound (from the laminectomy) has healed. Vicky and I and the family are mightily relieved and feel very lucky – it was a worrying few weeks.

The medical team tell me to get back to normal life, slowly to start with, so I do plan to build up to the inaugural “ Marathon des Alpes-Maritimes” or “French Riviera Marathon” in November if I can. If anyone is interested in this event please contact me and I will help in any way that I can – it is to be a spectacular course and I feel sure will become a big name on the European marathon calendar in the future. www.marathon06.com/AN

Some questions I have been asked / and doubts expressed:

This one from South Africa - It is not a good time to buy with the exchange rate against us…..some feel that the Rand will strengthen as soon as the USA economy improves.

Should we buy at a lower level? We will be penalised (capital gains / bank loan penalties) when we sell to upgrade to what we really want.

The property market seems to be in trouble in the UK and it may be worthwhile waiting to see if prices drop.

Some answers:

(The Economist articles referred to and quoted below are more than a month old, but what they say isn’t out of date:)

When will the US economy improve? In The Economist of 12th to 18th April there is a very good analysis. In a leader article they propose that “the recession may not be as severe as many fear, but the recovery could take longer”…..”During the past quarter century the world’s most powerful economy has suffered only two official downturns, in 1990 – 91, and 2001. Both were short and shallow.”……”The 2008 recession may be mild, but the 2009 recovery will be feeble.”…..There’s another interesting article that suggests that the Euro may take a bit of a hammering under the by-line “Danger Ahead for the Mighty Euro”. As for the Rand – it’s anyone’s guess. So what does one do?

When Vicky and I left Zimbabwe in 2001 (during a recession) we had no choice – our farming life had been ripped away so we had a new life to build, and two of our three children were still at school. We took a hard decision to cash in the bulk of our meagre outside assets and go (personally) into property in France – the business grew later. But to be “safe”, and because the markets were down we left a small (sensible) amount in sterling, tied up in unit trusts. We have recently been considering liquidating that asset because we want to invest it in a property project in Cannes. If we do that today we will be paid out the “total interim value” - just 67% of the amount we started with! And yet we still ask ourselves “is it the right time?” Well, we’ve grown well with our property investments and if we’d taken that money in 2002 and put it where we should have it would be worth twice its original value now. So what do you think we should do? I say we should get it into property, and better late than never. That’s just our story, but illustrates for me that you have to go with your instinct in the end and sometimes it’s wrong. One can equally super-analyse oneself into total inertia. Recently an analyst on Sky was asking an “expert” about the market in Royal Bank of Scotland shares, when they were floating them to existing shareholders at an apparently lower price to try to raise 2.5 billion to get them out of trouble. The analyst asked the expert “OK so which way would you go then?” meaning would the shares make money if one purchased some, and the expert replied “I wouldn’t be sitting here if I could tell you that!”

My view on capital gains tax (and many of our investors have faced the problem. having moved on and up the market after holding on to first properties for a few years) is that annoying as it is to pay the tax, it is ONLY chargeable on net gain, after deducting legal and admin and transfer and renovation costs. So it’s a tax on the real profit on your deal. I’d be more worried if there wasn’t any tax to pay! Bank penalties are unacceptable and you can (and should) make it a precondition that your loan is not subject to early repayment penalties in the first five years. (Banks do agree to it). In any case, if you use the same financier to finance your second investment it falls away because they roll over the loan and give you two years to sell the first property. It’s so much easier to get the second loan when you have faithfully repaid your first loan every month for a year or more.

The property market is in trouble in the UK (the Economist says it could be…”almost 30% higher than can be explained by fundamental factors such as disposable income, interest rates and size of the working-age population….”) and I’m sure it will spread to France, but France was never anywhere near 30% overvalued and nor was “…credit artificially cheap in recent years because investors have demanded too little return for the risks they have taken on…”. In niche markets ( Cannes being one of them) the effect of downturns is cushioned because the market is less dependant on people being able to repay their debts, keeping or losing their jobs, etc. The wealthy are less affected by the cyclical ups and downs of the market – theirs is a much flatter graph. The Economist again – “Charles Peerless, who owns estate agencies near the City and in the West End, areas where prices are holding up relatively well, says each property is being viewed about 12 times before a sale, compared with just four or five viewings a year ago.” He obviously deals in areas of London where property prices are less turbulent – I bet estate agencies in less prestigious areas of London are going bust, as they will in marginal suburbs of Nice, Lyons and Paris. You can’t build any more in the City or the West End, nor the Croisette or the Champs Elysee. So when I see Sky News reporting that property prices are set to fall 25% and home owners are going into “negative equity” I can believe that it’s true for some areas, and the hardest hit are the first time home-buyers making up 30% of the market, with 100% or even 105% mortgages (madness), but to get the real story I wait for The Economist!

In Cannes we are finding what Charles Peerless is finding – properties are taking longer to sell and sellers that are keen to sell quickly are prepared to lower their prices (see below – some bargains are beginning to appear). But overall I’d say that the market is reasonably steady; not rising for the moment, but not dropping much either, and I feel that it is likely with the summer upon us that it will creep upwards again because there is only one French Riviera and property here remains in short supply.

Vicky and I continue to watch the Cannes market and the Cote d’Azur very closely because we have over 70 very precious properties here now, belonging to us and family and many close friends, old and new.

Vicky and I will be in Cannes until mid July when we’re going to immerse ourselves in WWII history for a few days with old friends in Normandy before returning to South Africa for August. We will be back in Cannes for part of September, and all of October and November.

Please don’t forget to go to our website sometimes – we update it regularly: www.azur-accom.com

With kind regards,

Guy.

A few of these properties are repeats (i.e. have appeared in my Property Letters before). I include them amongst the fresh stock because I believe there is real value to be had in them. All the prices quoted are “asking prices” and you can make reasonable offers – in todays market we may well achieve success in some cases.

Some of the properties below are priced to sell.

A few are bargains.

Properties in ascending price order – please scan through until you find the budget that suits you:

====================

Properties Below 300 000€.

====================

Palm Beach: Two Studios.

Both of the studios are in the same building. Both look westward across the wonderfully lively home of “boules”, the Place de l’Etang. The situation is lovely, and full of character. Today one of the studios is rented on a short term basis to conference delegates and holiday makers, and the other is rented long term, currently to a German mathematician working in Sophia Antipolis in the “ Technology Park”. He has been there a year and would prefer to stay for the duration of his 3 year contract if he is allowed to (this depends on the buyers plans and wishes). He pays 550€ per month, which is a bit low – he should be paying 600€. Both apartments belong to Irish invetors who for their own reasons are moving out of the market here. Both apartments are in very good condition and both are selling fully furnished and equipped. Both apartments have balconies which have been glassed in with large sliding windows to provide the apartment with extra living space.

The Place de l’Etang From Above. The Apartment block from Across the Place.

The third floor apartment:

· 28 m² of living space.

· Looks west from 3rd floor.

· View across Place de l’Etang.

· Constructed 1970’s.

· Asking Price – 170 000€.

This apartment traverses the building from west to east, and has a (very) small room with a folding double bed - when the bed is down, the room is full! The little bedroom leads to the back balcony, which looks east with a little sea view between buildings. The back balcony is equipped with a little table and works as a very light and pleasant office. The main living room is quite spacious with a double sofa-bed, and leads to the front balcony (overlooking the Place) which is equipped as a kitchenette and has a dining table and four chairs. It’s a really attractive small apartment (and the German mathematician loves it, and hopes not to have to move!)

The fourth floor apartment:

· 23 m² of living space.

· Looks west from 4th floor.

· View across Place de l’Etang.

· Constructed 1970’s.

· Asking Price – 175 000€.

This apartment does not traverse the building so has no back balcony or small room, but it is wider in the living room and front balcony. It is also a very attractive little apartment, and like the third floor, it has its kitchen and dining table for four people on the balcony. In both cases, the balcony with its table and chairs is what is used as the principal living area, and the interior rooms mainly for sleeping. This is not at all surprising because the view is so attractive and so interesting that one is automatically drawn to want to sit there.

Alexandre III / Basse Californie. Large Studio Apartment.

35m² of living space.

Construction 1983.

3rd floor of 6.

View of trees and gardens.

Aspect east.

Terrace of 10 m².

Cellar.

Private parking space.

Price - 208 800€.

This studio apartment is in a very smart and well maintained building with gardens and guardian. It is extremely well priced. It is just minutes by vehicle from Palm Beach and equally just minutes from the centre of Cannes. It is perfectly suited to a longer term rental – a residential tenant rather than conference delegates as it is just beyond their easy walking reach. It is close to shops, in a luxury residence and has many advantages for people needing to live in Cannes.

The apartment itself has an entrance hall off which are the bathroom and separate toilet, and good cupboards. It has a large living area opening onto a very useful and attractive terrace, currently rather

beautifully gardened, and a far wider than usual kitchen which is fully equipped, and because of its width the kitchen is used as an office and TV room. The kitchen also opens onto the terrace. The floors are marble, the awnings are brand new, the apartment is air conditioned, the shutters are electric and it is all double glazed. There is nothing left to do to it. With the advantage of the private parking one can expect a very good monthly rental, and there is no difficulty finding good tenants.

Basse Californie. One Bedroom Apartment.

44.5m² of living space.

Construction 1960.

4th Floor.

View of trees and gardens.

Aspect south and east

Price – 220 000€

This one bedroom apartment is situated just behind the Martinez Hotel, and only a couple of hundred meters from the Croisette and the beaches. It is light and bright, with good cupboards, and a useful and pleasant balcony. It can be rented either for conferences and short term lets, or very viably for annual rentals. (We have an identical apartment on 3rd floor which is rented to long term tenants a year at a time, and there would be no problem renting another on the same terms.)

It does need some basic work done on it – a coat of paint and ideally a basic renovation of the kitchen and bathroom, both of which are dated. For anyone who has doubts, this sort of renovation is something we organize with our building team regularly for investors – it is not an obstacle. In fact often the contrary applies – because there is value to be had from a renovation we have investors who search specifically for properties that need uplifting. They know that these properties offer the chance to add value.

I do not believe there is much room for negotiation on this apartment because it has already been discounted.

Le Cannet Residential. One bedroom Apartment.

35 m² of living space.

Construction 1982.

3rd floor of 3.

View of gardens.

Aspect east.

Terrace of 10 m².

Price – 225 000€

Le Cannet is a suburb above and overlooking Cannes and is a quality suburb of good buildings and many villas. The old town of Le Cannet is older than Cannes and was populated while Cannes was just a swamp with a small settlement on the hill at Le Suquet. It has great character and is completely off the tourist map. Vicky and I like to go to Le Cannet for dinner to charming (and very French) restaurants on a Sunday evening, and feel as if we’re in a village many miles from the bright lights of the Riviera. In fact we’re only 15 minutes away.

This charming apartment is just a couple of minutes walk to the old Le Cannet. It is in a quality residence with a guardian, and quiet on the 3rd floor of 3. It has a terrace leading off the living room, an open plan and fully equipped kitchen, and a bedroom which also opens onto the terrace. It has a cellar in the basement, and a big garage.

This is another very good long term rental prospect.

Jean de Riouffe. Large Studio Apartment.

In the Centre of Cannes.

37m² of living space.

Fully renovated and ready to work as a rental unit.

Double glazed.

View of streets leading to the Palais des Festivals.

The apartment is being sold furnished.

Price is 230 000 Euros.

This large studio is a perfect rental property. It is on the first floor of a very good building so the entrance and common areas are modern, light and spotless. If one leans out of one of the large front windows and looks right, one can see the Palais des Festivals 200m away at the bottom of the street. If one looks left, the Cannes central railway station is 200m away at the top of the street.

This apartment is in an absolutely ideal situation for the rental market.

Village Sablons. One Bedroom Apartment.

One bedroom apartment.

35 / 38m² living space.

Small balcony at front and small closed in balcony at back. (Potentail to expand this west-facing balcony and make more use of it.)

Aspect – east and west.

Fully furnished.

Price reduced: From 260 000€ to 235 000€.

The charming little shopping centre in the suburb of Palm Beach is called Village Sablons. It has everything a little French village needs – a fabulous bakery serving the best cappuccinos in town, two small grocery stores and an Italian delicatessen, two butcheries each offering their own specials and delights, a newsagent, laundry, hairdresser, pharmacy and post office. In the centre of it stands a little fishermans cottage dating back to the turn of the last century, and this has been converted into a shop (now the Italian deli), and a charming apartment on the first floor. The apartment has been entirely and beautifully renovated and furnished. It is ready to rent.

The walk to the centre of Cannes is through gardens and along the seafront of the Croisette, taking 15 minutes to the Palais des Festivals. The beaches are two to three hundred meters away on the east and on the west side (being on a peninsula). The eastern beaches facing Juin les Pins and Antibes are family beaches with restaurants, small boat and dinghy hire, volley ball, kite surfing and the like. The western beaches next to Port Canto on the Cannes side of the peninsula are a bit more glitzy boasting beautiful beach restaurants, yachts for hire, trendy roller bladers, and the Croisette with its gardens and constant kaeidascope of people to enjoy.

The apartment appeals to delegates to conferences as well as to holiday makers so as a rental unit it has great merit. However as a lock-up-an-go for weekends away, just to enjoy the sunshine and glamour of Cannes at its best but in a village environment it’s a winner.

Place de l’Etang – One / Two Bedrooms.

(Slow down and have a second look at this one if a renovation prospect interests you?)

53m² of living space.

Balcony facing south,

1st floor.

View of Place de l’Etang north from the bedroom, and gardens and attractive apartment buildings to the south (across a quiet car park).

Construction 1970.

Asking Price – 255 000€.

The Place de l’Etang is the village square famous for its “boules” in the suburb of Palm Beach which lies on the southern end of the Croisette. It is a lovely, quiet suburb just 15 minutes walk from the Centre and the Palais des Festivals, and many people (including ourselves, as it’s where we choose to live) fall in love with it. Overlooking the Place are a handful of apartment buildings and this apartment is on the southern side, and overlooks the Place on the bedroom side. On the living room side is a sunny south facing balcony. It is on the first floor, and overlooks the private car park which serves the building, but it is quiet, away from the street, and the outlook is of gardens and attractive buildings beyond the car park. The apartment itself is in terrible shape – a deceased estate, and it needs a renovation from floor to ceiling. Today it is a one bedroom apartment but the kitchen has the potential to be a second bedroom. Vicky and I would recommend that it be stripped and made into a small bedroom and an open plan kitchen created in the spacious living room instead. The value added through this renovation is going to far exceed the cost of the renovation. Once it’s furnished we will rent this apartment with ease.

The plan: Offer low and hope to get it for 225 000€ (4245€ per m²)

Cost of renovation at 1200€ per m² = 64 000€

Finished cost of two bedroom apartment = 289 000€ (5452 / m²)

Minimum value after renovation (6000 / m²) = 318 000€

Realistic value (6500 / m²) = 344 500€

View Across the Parking Lot - Gardens, Trees, Apartment Blocks.

Xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

===============

300 000 to 600 000€.

===============

Lacour.: Two Bedroom Apartment

Good 12m² wrap-around terrace.

65 sq.m. of living space.

1st & 2nd floors of 8.

Aspect – south and west.

Outside collective parking.

Asking price – 325 000€

Duplex apartment on 1st and 2nd floors of a good block in the suburb of Cannes just behind the Hotel Martinez. We have quite a number of apartments in this area and whereas they are not as easy to rent for congresses as the apartments in town, they are nowhere near the price. They do well on medium term rentals. This apartment needs a renovation because it is painted in very bright colours and they are unlikely to please anyone other than the past occupant. I think it would be advisable to add a second (upstairs) toilet too, and redo the kitchen. This is an apartment that one can add value to by doing a good renovation. (The price is very attractive)

La Croisette.

Large Studio Apartment.

· 40 m² of living space.

· 1st Floor of 7.

· Construction 1960.

· View over gardens, La Croisette and the sea.

· Exposition east, south and west.

· Terrace.

· Gated parking in the complex.

· Air conditioned and double glazed.

· Price reduced: From 425 000€ to 385 000€

This is a luxury apartment in one of the most prestigious blocks in the Palm Beach sector of the Croisette. The building is one of the landmark buildings, beautiful and immaculately maintained with gleaming floors and mirrors in communal areas and entrances, permanently manicured gardens, a guardian of course, and private parking.

The apartment itself although a “studio” is a generous 40m² with a terrace over a quiet and gated street (residents only) and a view across the green suburb of Palm Beach on the one side, and the Croisette and the sea on the other. Directly across the Croisette from this apartment is “Bijou Plage” or “Jewel Beach” which is one of the most charming public beaches on the front, protected and somewhat more private than the beaches closer to the centre, and with three quality beach restaurants (all supplying beach loungers, mattresses and umbrellas) to choose from.

The living room is spacious and the open plan kitchen brand new with Italian granite surfaces, a breakfast bar and all the appliances one would expect. One part of the living room has been sectioned off to create a desk and office area with broadband internet access and the sleeping alcove is off the living room and could be partitioned off if one wanted to. The shower room is fresh and modern and the toilet is separate. There are all the add-ons such as double glazing, satellite, air conditioning and as mentioned, broadband.

This is a rare opportunity to invest on La Croisette.

Louis Grosso.

Two bedroom apartment.

One bathroom with toilet, separate shower and toilet.

Balconies east and west.

57m² living space.

1st floor of 5.

Air-conditioned and double glazed.

Fully furnished.

Private parking.

Asking price – 450 000€.

This quality building is in the block which is on La Croisette, but in the second row. The apartment is “traversant” with balconies off the living room on the east side and off the bedrooms on the west side with views of La Croisette and the Port Canto between the handsome buildings which form the front row. The apartment has been completely renovated and is sold attractively furnished and ready to go – a very attractive and important opportunity.

Fragonard.

Two bedroom apartment.

Two bathrooms.

Living space – 78m²

South facing balconies.

5th floor of 7.

Air conditioned and double glazed.

Cellar in the basement and possibility of a garage.

Price reduced: From 490 000€ to 460 000€.

An apartment block at the head of Rue d’Antibes. It is a perfect rental location for central Cannes and has the advantage for guests of being extremely close to our rental offices. It is a landmark building.

Plage du Midi – Top Floor.

Three Bedroom Apartment.

Three bedrooms, one separate bathroom and an en-suite shower.

Separate toilet.

85 m² of living space.

Construction 1855.

3rd floor of 3.

View north, south, east and west. Sea, the port, and old buildings of Cannes.

All double glazed.

Cellar.

Resident parking in a closed garden.

Price – 540 000€

This is interesting in many ways. The apartment is on the top (3rd) floor of a building dating back to 1855. The interior is decorated with wonderful murals all the way from the grand entrance hall, up the spiral staircase to the top. A modern lift has been installed which is obviously not in keeping with the character of the building, but is an asset to residents none the less. The murals are grand but peeling in places, and one always has this dilemma with historic buildings – to restore the murals would cost a fortune, and to paint them over would be a crime! What do residents do? For the moment they enjoy the murals even if they are fading or peeling in places. I would never suggest painting them over personally.

The Grand Old Lady. - The building is in good condition and well cared for; the apartment on the top floor has been created as a partition of the original living space, and is very spacious. There are three bedrooms, one bathroom and a separate shower in one of the bedrooms, and one toilet. The living room and a separate dining area are generous and the separate kitchen is clean and adequate. Today the landlord rents it out to delegates and festival goers. It could continue in that vein, but we believe there is potential to create something much more by adding another bathroom and toilet, and opening up the living area and kitchen to vastly improve the views. I think the price (which is very reasonable) and the position and views justify making something special out of this apartment. There is a balcony at the back which doubles as an exterior passageway which could be improved with some imagination.

The position is superb being about 100m from the bathing beaches and restaurants and cafes of the Plage du Midi. It is therefore only five minutes walk along the beachfront to the Old Port, eight minutes to the Palais des Festivals, and five minutes to the old town of Le Suquet with all its shops and quality restaurants. It does have the railway track leading into Cannes behind the apartment. We listened to two trains go past in the half hour we were there and the sound is so minor as to be irrelevant. By the time they get to this position they are pulling into the tunnel leading to the station and are going slowly. One sees the tracks way below but the views of the sea and the old buildings of Cannes dominate the view – frankly the railway tracks are a minor irritation, not a big issue.

Isola Bella.

Two bedroom, two bathroom apartment.

Large east and south facing balcony.

78m² living space.

1st floor of 2.

Fully furnished.

Air conditioned and double glazed.

Garage and cellar in the basement.

Asking price – 550 000€.

In the gardens of a beautiful old villa in the centre of Cannes low apartment buildings were created around the villa and its beautiful gardens and pool. The complex is quiet, secure and residents have the exclusive use of the gardens and pool area. The villa itself now comprises four luxury apartments. We have a two bedroom and two bathroom apartment on the first floor of one of the new residences on offer. Lovely garden and pool views, and quiet. The living area is very spacious and the apartment has been fairly recently renovated, and is being sold furnished. However, there is the option of opening up the kitchen and hall to bring them into a greatly enhanced living area, and renovating the bathrooms while giving the apartment a freshening to raise it from a quality product to a luxury one.

Le Cannet / Oxford.

Two bedroom apartment.

· 90 m² of living space.

· 1st floor.

· Construction 1973.

· Exposition south and west.

· View across gardens.

· Expansive terrace to the south and wrapping around the western side.

· Garage and cellar.

· Two bedrooms.

· Two bathrooms.

· Separate toilet.

· Price reduced: From 605 000€ to 580 000€.

The apartment block is a landmark at the base of Le Cannet, or the top of the suburb known as Oxford. It is a prestige property with high security and a guardian round the clock. The lovely gardens are extensive and immaculately maintained. There are two all weather, floodlit tennis courts in the grounds and a fabulous swimming pool with a large shallow separate paddling pool. These facilities are serviced during the months between Easter and October, with umbrellas, sun beds and mattresses, and a lifeguard. Just outside the complex and accessible through a pedestrian gate to which residents have a key is a small shopping centre with a bakery, a newsagent, hairdresser, pharmacy and one or two other shops. The lovely old town of Le Cannet with its shops and restaurants is a good walk, or a short drive away, and the centre of Cannes is five minutes away by car or bus. The bus stop is right outside the front gates.

The views from the higher floors (2 and above) are of the rooftops and the Bay of Cannes. The first floor apartment is too low to see the sea, looking as it does at the cedar trees and lovely gardens.

We have already bought an apartment in the building for an investor, and carried out a major renovation in it. The owner of the 3rd floor apartment has had it for about two years now, and although he plans to enjoy it with his family in the future he has put it on long term (furnished) lease for the time being, and earns 2 500€ from it each month, comfortably covering his mortgage.

This first floor apartment is composed of an entrance hall, a large living room, an equipped kitchen, two bedrooms and bathrooms, and everything opens onto lovely terraces as the apartment is on the end of the building so has the advantage of a wrap-around, which the majority of apartments do not have. It therefore has 37 m² of terrace which is huge. The main section off the front bedroom and living room looks south, and the wrap-around section onto which the kitchen opens looks west. The second bedroom has its own small balcony looking north into the trees and gardens. In the basement are garages and cellars and this apartment comes with one of each. It is very quiet.

The buyer will probably want to give the apartment a facelift and a coat of paint, because although it is extremely comfortable it has been in the same family since the building was constructed. I think it deserves a new lease of life.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

===============

600 000 – 900 000€.

===============

“Villa sur le Toit”

Two bedroom, two bathroom apartment.

85m² of living space.

92 m² of rooftop terrace.

3rd floor of 3.

Aspect – east, south, west.

Swimming pool, tennis, double glazed, air conditioned, etc.

Cellar and garage.

Price reduced: From 900 000€ to 790 000€!

That means “villa on the roof” and is a phrase commonly used to describe penthouse apartments, or apartments that have a rooftop to themselves. This one needs renovation as it has been inhabited by an elderly couple for many years (since 1970 when it was built I gather) and everything is dated. It is also too expensive, and the sellers have been told that they will need to expect to come down a bit. The view across the gulf Juan from Cannes to Antibes is breathtaking. The residence is one of very high standing with everything you can imagine– security, staff, swimming, tennis, access to beaches and restaurants, beautiful gardens, peace and quiet. It is situated up the hillside giving it the height - and emphasising the views.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

============

Over 900 000 €.

============

Basse Californie Alexandre.

Beautiful Two bedroom apartment.

Two bedroom two bathroom apartment.

92 m² of living space.

25 m² of balcony.

5th floor of 10.

Aspect south and north.

Construction 1960.

Price – 1 325 000€.

This is an immaculate and just refurbished apartment on the 5th floor of a wonderful and imposing residence with an unimpeded view of Cannes and the Bay of Cannes, including the red Esterel Hills in the west, the Isles de Lerins in the centre and the Cap d’Antibes in the east. It has not been furnished or used since renovation and the quality of the work is top. The building is immaculately cared for and maintained, with gardens and a guardian. The apartment traverses the building from north to south, is quiet and the view is unbeatable. It has all that one would expect in terms of finishes, electric shutters, double glazing, air conditioning etc. and it comes with a cellar, a garage and a parking space.

(There is a similar apartment with equal views on the 10th floor, slightly smaller but at the same price per m², and it still requires renovation, so I have not included it here)

A Truly Amazing Penthouse in the Hills Overlooking Cannes.

267 m² of living space.

133 m² rooftop terrace.

4th floor of 4.

Four bedrooms, all of which open onto private terraces or the main terrace.

Four bathrooms. All bathrooms have a bath and shower and the master bathroom has a Jacuzzi.

A spacious office which can easily be used as a fifth bedroom.

Very large open plan living and dining area with a bar and a central fireplace.

Large fully equipped separate kitchen.

Four garages.

Private lift.

Asking price is 2 300 000€.

A penthouse apartment of this size and standing in Cannes is a rare find.

It is located in Le Cannet in the hills overlooking Cannes and the 360º view is unobstructed. The views over Cannes, with the Bay of Cannes to the south and the famous Esterel Hills behind which the sun sets in the west are magnificent.

The apartment has been finished with high quality materials, with marble floors and surfaces throughout. The living and dining area, bar, kitchen, master bedroom & bathroom, and office are in need of no renovation. The guest bedrooms & bathrooms in the West wing are in need of a little modernization; however they have been well maintained.

The penthouse is well secured with a series of locks and an alarm and has been fitted with electric shutters throughout.

The property has communal gardens and swimming pool that is terraced with access to a pool house. All the communal areas are of a high standard and have been well maintained. The building is secure with electric gates and doors.

The furniture is included in the price, so it can be a real turn key property.

Cannes is five minutes away and Nice airport only 25 minutes.

PROPERTY LETTER 4TH March 2008

LoveNotWar — Tue, 04 Mar 2008 14:26:28 +0000

PL70

PROPERTY LETTER 4TH March 2008

Dear All,

It’s been a very busy winter (winter’s a joke down here – it’s the best kept secret) and it’s nearing time for us to get back to Cape Town for a spell with the African branch of our family. We still have Dads, our younger son, my sister and her family and numerous cousins, mostly in the Cape.

And then of course there’s the Two Oceans on Easter Saturday as usual!

We will be back again in April for the summer, but before we go I have a number of interesting properties to propose to those who are ready to consider investing. They can be viewed here.

How can you spend time (or live) in France?
Some of you are investors only, and others harbour an ambition to come here more, and even to live here. You certainly wouldn’t be alone in that as I would imagine that more people would like to live here than just about anywhere, and as I have said before “successful people flock here”. For those who have ambitions to spend time here one day, I came across a little piece the other day that might help to validate your desires…if that were necessary:

“France is acknowledged as a pretty healthy place to live (coming in just behind Switzerland and Sweden in The Economist’s Life Expectancy tables for Europe), with the population reaching an average age of 80 years. Many analysts claim it’s the lifestyle: healthy eating, easy access to outdoor activities and importantly, good state healthcare.”

I don’t think many would argue that if that statement applies to France, then it would apply even more so to the South of France.

Here are the answers to our “most frequently asked question”
(especially by Southern Africans.)

If one member of your family has an E.U. passport or citizenship, there is no problem getting a “Titre de Sejour” which is automatic rights to live and work here. It takes a morning or less.
If you do not have European citizenship, and neither of you (assuming a couple) can get the right to it, then owning property only allows you to apply for a long-duration Schengen visa. This can certainly take the pain out of constant visa applications, but doesn’t give you the right to work. What you can do is conduct your own business based outside the country as many here do (particularly in I.T.), but you can’t get “a job”.

Looking a little beyond the obvious:
2008 could prove to be a fantastic year for those who want to invest in overseas property and are prepared to look just a little past the obvious.

For many both in the UK and in the rest of the English speaking world, investing in the UK and Ireland is no longer an attractive option – for good reason.

Last week we flew to London for a couple of days and I was intrigued by an article in the Easyjet In-flight Magazine under the title “Slicker Cities”.

They ranked Marseilles as Europe’s “Ultimate City”. Would you have believed that? It is according to them “top-of–the-game in terms of excellent employment opportunities, good salary, charming property and a great lifestyle”…Wow!

London, Copenhagen, Paris, Geneva, Vienna – too expensive.
Many other major cities – too congested, too overcrowded, and / or too polluted.
“There’s a lot to be said for provincial cities such as Lyon, Newcastle, Cannes or Gijon (in Spain). Salaries are often comparable, housing and lifestyle costs are lower, transport connections are as good as those of major destinations but less crowded, urban sprawl is less dominant and there are beautiful stretches of easily accessible coast or countryside nearby.”

But the overall winner: MARSEILLES!

“The historic port may offer the best of all worlds. A programme of regeneration is revitalising the city, which is only an hour from the glamorous Cote d’Azur. Air, road and rail links are excellent, property is still affordable and everyday costs such as food and utilities in France compare favourably with other countries. Residents have access to great beaches, and jobs and salaries have been boosted by the presence of large employers such as heavy industry (petrochemicals and steel), the busy shipping port, new telecommunications services and a scientific research centre 40 minutes away.”

Avignon is 98 km away. Montpellier 160 km. Lovely Aix en Provence only 30 km, Toulon 70 km, Arles 90 km, Nimes 120 km, and Cannes 160 km.

What position!
But we don’t have an agency in Marseilles – YET.

Cannes remains an attractive alternative to Marseilles and in many ways more so, being smaller and more manageable, and of course having as it does the advantages that come with year round conferences, and the “sexiness” and aura that surround the name. Anyway, it’s close enough for us to bathe a little in Marseilles’ reflected glory. Thank you Easyjet and Marseilles!

Why do people buy abroad?
There are obviously as many reasons as there are buyers, but here are some common reasons:

Investment & lifestyle: Some people buy for pure investment and are concerned with a high return, and others are more concerned with the home they wish to create and live in – and the lifestyle that their investment offers them. Most of our investors in Cannes however are interested in a healthy combination of the two.
Most buyers here consider that their money is better placed in terms of medium term capital growth invested in property than in savings in the bank.
The potential to increase income through renting is attractive to many.
It is safer than shares! People are choosing something tangible – something that actually exists, and property is the number one tangible asset. When property markets perform poorly it is the least desirable properties that take the biggest hit. Similarly when the market rallies these properties are the last to benefit from the increases. For this reason we advise people to go for the “best quality in the best location” that they can afford. In this way they are sure to be in the best position no matter what.
Investment abroad may be more lucrative than buying at home.
It is far easier to buy abroad nowadays. Internet and broadband, teleconferencing, frequent and affordable flights, and of course the advent of the Euro which make it so much easier to move money around.
Finally, it’s fun. Many people are enjoying the process, and as they say – “don’t be surprised if you get a taste for it”.

Most recent lending rates (quoted last week):

Fixed Rate:
Term: 20 years.
Rate: 5.05% Fixed for the entire life of the mortgage.
Monthly repayments.

Capped Rate at Maximum +2%:
Term: 20 years.
Rate: 4.45% Fixed for the first year then variable. The rate can never be over 6.45%.
Monthly repayments.

Notes: The rate varies in direct proportion to the Euribor (ECB) rate.
Mortgages are available over terms from 6 to 25 years.
This is the highest the rate has been in the 6 years we have been here.
The lowest we saw was two years ago when it bottomed out at 2.75%.

French Property Market – Some stats:

The appeal of French property continues:
In 2005 the non-resident market accounted for €6 billion in sales.
In 2006 it accounted for €7 billion in sales.

The principal investors in 2006 were:
Britain 43.1%
Benelux countries 13.5%
Italy 12%
Ireland 7.3%
Spain & Portugal 5.3%
Switzerland 3.7%
Germany 2.6%
USA 2.1%

And where did the Brits buy?
Top of the league were:
The Cote d’Azur, the Dordogne, and Haute Savoie at about 6% of the market each.
Following them were the Cotes d’Armor and Morbihan at 5% and 4% respectively, both these areas being just across the pond, in Brittany.

Management and Administration:
Based on frequent questions, it seems not as well know as it should be that Azur Accom (in the form of Vicky primarily) offers a comprehensive package of management and administration to those who want it. She looks after the payment of taxes, rates, levies, water and electricity, and manages banking issues such as timely deposits, and compiles monthly bank reconciliations for the owner. She also takes care of issues concerning the co-propriety and the administration of the building, insurance and claims, and arranges for repairs, maintenance and upkeep as required. She prepares the annual tax returns, and generally keeps a watchful eye on the many properties of “her” precious owners.

Last but not least – the weather:
The Cote d’Azur is renowned for having one of the most pleasing climates in the world, a micro-climate in Europe with 300 days of sunshine, and little wind.

AVERAGE DAILY TEMPERATURE (Celsius) ºC
	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
Cote d’Azur	12.5	12	14	18	21	26	28	28	25	22	17	14
London	6	7	10	13	17	20	22	21	19	14	10	7

		<13ºC
		13 - 19º
		>19ºC

Please feel free to browse our latest properties on offer here.
With kindest regards,

Guy.

Just a bit of fun, Thank God for humour!

LoveNotWar — Fri, 29 Feb 2008 08:08:31 +0000

Here is an MP3 sent to me by a friend. Only really worth listening to if you know about things South African and the personalities there … but if you do … ENJOY!

PROPERTY LETTER 14th DECEMBER 2007

LoveNotWar — Fri, 14 Dec 2007 09:01:24 +0000

Dear All,

Vicky and I have arrived back in Cape Town to celebrate Christmas, the New Year and a family wedding but will be back in Cannes on 10^th January. It is beautiful here, and lovely to get a “whiff of Africa”, even if the Cape isn’t “real Africa”.

We would both like to wish all of you a very happy Christmas and festive season, and we wish you a happy and successful 2008.

The Market:

Last week Sylvana (who so many of you have met in the Agency Azur Eden) had an Italian client with €3 million to spend on an apartment, and they wanted it right on the Croisette. For that price it had to be spectacular of course, spacious, with big views and terraces and very well appointed. She couldn’t find one. Needless to say she was very highly motivated, and phoned or visited every agency she could think of, but nobody could help her. Can you believe that?

Also just over a week ago Delphine took me to see an apartment she’d found in the centre of Cannes, very well positioned for rentals, in a good building, just what many of our investors are looking for, and priced to sell. It was small, with a useful closed in balcony and the asking price was 214 000€ (affordable for many). It had come onto the market that morning so I immediately sent the information to a couple of people who I thought would be interested, and planned to go back in the afternoon with Vicky so she could see it. In the afternoon it was gone – sold!

What are these stories telling us?

We are not finding it easy to find good properties.
There is not much on the market.
Good properties are selling – not all in a day, but the market is alive and well.

The French Riviera is different – it is a “brand” that goes back long before Dior, or Rolls Royce were thought of. Some of you will already know about the area, but for those who need reminding, here is what keeps the Côte d’Azur ahead of the competition:

The French Riviera…

…extends from Menton on the Italian border, through Monaco, Nice and Cannes to St Tropez in the west.

It stretches from the beautiful Mediterranean to the mountains and enjoys its own special micro-climate, warmly protected from the vagaries of European weather by “les Alpes Maritimes”.

The history of the region stretches back to ancient Greek times with Antibes and Sophia Antipolis being two surviving examples of ancient Greek towns.

More recently Roman influence and ruins include the impressive “Trophee” of Emperor Augustus still soaring today above Monaco at La Turbee, and the Roman port of Frejus which is now 3 km inland.

Mediaeval villages top many of the hills and mountains and are fascinating to visit today, examples being Eze, St Paul de Vence, Gorbio, Mougins and Bairols. (If anyone thinks of planning a visit to Bairols please contact me first for advice on the most wonderful restaurant – not expensive but an experience to remember.)

Over the centuries the region has attracted some of the world’s most renowned artists:Cezanne, Degas, Monet, Renoir, Picasso and Van Gogh all lived and worked in the area and it’s easy to see what attracted them. Artists “wax lyrical” about the quality of the light, but to the rest of us it’s just the natural freedom and beauty of the place that is irresistible.

Arguably the best food and wines in France are proudly served in even the most modest restaurants, while for connoisseurs the choice is greater than anyone could sample in a lifetime.

Throughout the year the most stunning and prestigious golf courses in Europe offer golf which is affordable. There are 15 major courses on the Côte d’Azur, the most well known perhaps being the Royal Mougins, Claus Amic, Chateaux de Taulane, and Monte Carlo Golf Club. Contrary to popular belief they are not all impossibly expensive, and all except one offer special rates and incentives at all times of the year.

World renowned ski slopes such as Isola 2000 and Auron are within an hour and a half drive of Cannes and only an hour from Nice. During the season buses leave every morning from the Old Port of Cannes and return in the afternoon, the ski-pass included in the bus fare, providing a terrific service to those who would rather not drive.

It goes without saying that boating and yachting are a major attraction for those who love it, there are famous casinos for those who like to play the tables and the nightlife and shopping are legendary. The Rue d’Antibes is probably France’s second most famous shopping street after the Champs Elysée.

Security is taken extremely seriously as you would imagine, and cleanliness is demanded by the class of people who live and visit there. Rubbish is collected every day before dawn, and streets and pavements are washed with high power hoses. Frogmen clean the waters at day break, the beaches are spotless by the time ordinary people get up for breakfast, and the lovely gardens are a source of local pride.

Businesses from around the world choose to meet on the Côte d’Azur, and mostly in Cannes, for all the reasons outlined above. The CANNES FILM FESTIVAL is the best known each May, but there are many congresses held in Cannes, Nice and Monaco throughout the year. To name just a few of them:

MIDEM hosts the leaders of the world music industry in January.
MIPIM is the global real estate gathering, now divided into two conferences in March and October.
MIPTV brings together the leaders in television film production in April.
The Cannes Lions International Advertising Festival is a huge production as you would imagine, and takes place in June.
The Cannes International Boat Show in September is not to be missed if boats are your thing.
MIPCOM is the world “audio visual content” market place in October.
The International Luxury Travel Market takes place in December.
The Tax Free World Exhibition is in October.
The Gartner Group I.T. Symposium is in November.
MAPIC the international market for retail real estate also happens in November.
Not to be forgotten is the MONACO GRAND PRIX which follows the Film Festival in May.

Real Estate on the Côte d’Azur has been sought after since Victorian England, and then the Americans and the Russians recognised the wonders of the climate and lifestyle more than a hundred years ago.

The Rothschilds, Queen Victoria, Edward and Wallis, and their wealthy friends bought huge estates and built fabulous homes up and down the coast and we can visit some of them today – those that are open to the public. The Russian aristocracy did the same. The latter perished during the Russian Revolution in their thousands, but their castles, villas and churches stand as monuments, it could be said, to their excesses.

The Côte d’Azur is the destination of choice for discerning individuals from around the world.

An Interesting Read.

(From an article by Ian Fife in the Financial Mail)

Although the article refers mainly to British property and investments, one can safely extrapolate to include Europe, and France in particular.

….Mike Watters, CEO of SA-owned London-listed fund Ciref, says: “The UK’s economic fundamentals are sound. Yet the British have not seen a financial wobble in many years and they’re behaving like rabbits caught in the headlights of a car….I wouldn’t say there’s panic,” Watters adds “but it is a wonderful buying opportunity.” He, Rabinowitz and other fund managers point out that South Africans are uniquely positioned. They’ve been through these sudden collapses in the market a number of times in the 1980s, 1990s and early 2000s.

Where the British see threats, battle-hardened South Africans see opportunity. Recent international research shows that South Africans are the most willing to take risk, while the British are most risk-averse. “It’s a brilliant time for South Africans to buy,” says Fortress Asset Management director Craig Hallowes. “The rand is strong and the offshore property returns are around SA fund returns.” He, Rabinowitz and Watters see the market remaining stunned for at least three to six months….

“Don’t underestimate the gravity of the subprime problem,” adds Rabinowitz. “But the property fundamentals in Britain and Europe are sound over the medium term.”….

Despite the gloom, Capital Economics remains confident that the UK property market will continue to grow. Says Mora: “We expect GDP growth to slow from 3% this year to 2% in 2008, a little weaker than previously forecast. This revision will not be enough, however, to undermine the occupier markets, and in any case, we expect sustained economic expansion up to 2011.

Here is the link to the original article: http://free.financialmail.co.za/07/1130/moneyinvest/cmoney.htm

Another Interesting Read.

This time extracted from the quarterly newsletter of Credit Foncier, the lending bank that has been most helpful to us and our Southern African investors over the last 5½ years.

The French property market’s appeal has shown no sign of fading. In fact it is attracting more overseas buyers than ever. The non-resident market represented more than €7 billion in 2006 compared to €6 billion in 2005 – this share has been steadily growing over the years.
Britain dominated the non-resident market accounting for 43.1% of sales, followed by the Benelux countries with 13.5%, Italy with 12% and Ireland with 7.3%.
Senior executives and directors topped the list accounting for 36% of British buyers, followed by professionals (21%) and retirees (15%).
Dordogne was the most popular destination for the British buyer, accounting for 6.5% of transactions, closely followed by The Côte d’Azur and Haute-Savoie at about 6% each.
85% of Credit Foncier’s clients chose repayment loans to finance their purchases, with the option of fixed or variable rate loans or a combination of both, over a period of six to 25 years - with the added option to decrease or increase monthly instalments, and make early repayments free of charge.

The Web:

Please have a look at our main websites from time to time.

The rental website is on www.azur-online.com

Our property website is on www.azur-accom.com

I was invited to contribute a guest column to “realestateweb” a subsidiary to “moneyweb” which publishes articles including those from the Wall Street Journal whom it represents in S.A. We are published under the heading “Postcards from the Riviera”.

www.realestateweb.co.za (click onto “guest columns” and “property talk” to get there)

or www.moneyweb.co.za and follow the link to realestateweb.

Down Under.

A good friend who like us farmed in Zimbabwe (in another life) is also involved in property now, but in his case in Perth, Australia. He recently wrote a covering letter with a full and detailed proposal on a development there, and I quote:

“.…It is the logical result of our own search for property investment options overseas, in which we were looking for a way to bank our hard earned cash and provide for a future pension. Our view was that the uncertainty of the international monetary system and the complications of living in Africa made the offshore option, within the law, more attractive than ever. We also wanted control over our investments, as well as the opportunity to borrow and create enough leverage to invest where there are good prospects of real capital gain.

We have teamed up with a very old friend (of 30 years standing!) who is a property developer in Perth, and he has given us sole rights in Africa to their latest development in that booming city. The development is a stunning 26-floor building called EQUUS, and comprises 139 luxury apartments above 7 floors of offices and shops. EQUUS is flanked by pedestrian malls and is located next to the Cathedral and park in the central CBD; it has stunning views over the Swan River and hills, and is the first apartment development for young professionals in the central city. This development has offered us a spring board from which to launch the new business, and since the building will only be complete in 2011, we (and every other buyer) have the time to find the balance of the deposit. The local banks there offer a 70% bond to Non-Residents, and every aspect of the deal is within the terms of South Africa’s foreign exchange regulations. The rate of rental return is also remarkable, and certainly appealing to those of us who want an assured future….”

If you are interested in what he is doing please ask and I will immediately refer you to Ian, or ask him to mail you with details of the project.

I urge you to have a good look at the properties below. Some of you will be actively interested, and for others the exercise will be purely educational – but I hope that from it you’ll gain some insight or inspiration.

Once again, all the best to you and your families for the festive season, take care on the roads, and we wish you health and happiness in 2008.

With kind regards,

Guy.

Some Properties to Consider:

PLEASE don’t hesitate to get back to me with queries.
I will send fuller descriptions and photos on a “by request” basis.
Don’t forget – most sellers will consider offers.

Please also remember that this is a selection from hundreds of properties, and we have only included those that we consider to have some merit for the investor.

Jean de Riouffe. Large Studio Apartment. In the Centre of Cannes.

37 sq.m. of living space.
Fully renovated and ready to work as a rental unit.
Double glazed.
View of streets leading to the Palais des Festivals.
Price is 230 000 Euros.
The apartment is being sold furnished.

This apartment is in an absolutely ideal situation for the rental market.

Rue d’Antibes. Studio Apartment.

31 sq.m. of living space.
6 sq.m. terrace.
Renovated and ready to work.
Double glazed. Air conditioned. Electric shutters.
5^th floor so good views over the city.
Price is 235 000 Euros.
The apartment is being sold furnished.

This apartment is on the Rue d’Antibes but at the top end. It still classifies as “in the centre” and will be a good renter. The building is good, clean and modern, and because we already have apartments in the building we know it is well cared for. There is a cellar in the basement.

Alexandre III. Two bedroom apartment.

Easy walking distance to the centre.

84.82 sq.m. of living space.
Large (23 sq.m.) south facing terrace overlooking extensive gardens.
First floor.
Price is 410 000 Euros.

This is a large apartment in a very good development. The sunny terrace is lovely and light and overlooks immaculate gardens, the two bedrooms (both with bathrooms) and kitchen overlook the street to the north. It therefore traverses the building, and has a garage and a cellar in the basement. The position on Alexandre III is just a couple of hundred meters from the Croisette and the beaches of Port Canto. For rentals it is within a walkable radius of the Palais des Festivals although it is just out of the centre. The apartment requires renovation as it is years since anything was done to it, and at the price it is well worth doing. (One might budget 50 000 Euros for the renovation.) We have ascertained that the entire complex is about to undergo an external paint job and renovation, and that will immediately add value to the block.

Place de l’Etang. One / two bedroom apartment.

In the heart of Palm Beach.

66 sq.m. of living space.
Overlooks the Place de l’Etang.
Modern building (1997).
On the 3^rd floor of 5.
Aspect full south with a small sea view.
Terrace 19 sq.m.
Price is 555 000 sq.m.

This is a wonderful apartment. The building dominates the Place de l’Etang which is the world centre of Boules (Petanque to some). It is a constant hive of activity and village life with five restaurants, little shops and all the character in the world. From a rental point of view it is excellent for summer, and similarly for conferences. We have other top-end apartments on the Place and they perform very well for those to whom rentals are important. Beaches are a mere hundred meters away, and for anyone preferring a bus ride to the 20 minute walk through gardens and seafront to the centre, the “Number 8” passes under the apartment every 20 minutes - the fare to the Old Port and the Conference Centre is 1.30€ return.

This apartment which traverses the building from south to north (and so enjoys a through- flow of air) was a two bedroom apartment and the current owners have opened it up to make a double living room onto the spacious balcony. One can re-establish the second bedroom with a simple dividing wall if required. It has a bathroom and a separate toilet. Of course the apartment is air conditioned with electric shutters and blinds, and it comes with a garage and a cellar in the basement.

Basse Californie. Two bedroom apartment.

Easy walking distance to the centre.

100 sq.m. of living space.
100m from the Rue d’Antibes.
Classic Bourgeois building from the turn of the 20^th century.
On the 5^th and top floor.
Aspect south with a sea view.
Price is 645 000 Euros.

This large two bedroom and two bathroom apartment on the top floor of a classic building has been entirely renovated with luxury finishes. The living room alone is 50 sq.m. and the open plan kitchen is fully equipped. It is double glazed, air conditioned and has a lift (not always the case in older buildings). The position is very good for rentals.

These few apartments were in my last Property Letter and have not been sold. I am entering them again because they are GOOD.

Village Sablons.

The charming little shopping centre in Palm Beach is called Village Sablons. This apartment is on the first floor of an old building and is entirely and beautifully renovated and furnished. It is ready to rent.

Small one bedroom apartment.
35 / 38 sq.m. living space.
Small balcony at front and small closed in balcony at back.
Aspect – east and west.
Fully furnished.
Asking price – 260 000€.

Marachal Juan.

Just a hundred meters from the Rue d’Antibes and the centre of town – excellent rental property with high quality finishes and fully furnished. It is on the second and top floor of a small building. Ready to go.

One bedroom apartment – spacious living.
45 sq.m. living space with a large entrance hall and annex.
The entire 2^nd floor of 2.
Aspect – north and south.
View – over gardens.
Air conditioned and double glazed.
Fully furnished.
Asking price – 275 000€.

Louis Grosso.

Two bedroom apartment.
One bathroom with toilet, separate shower and toilet.
Balconies east and west.
57 sq.m. living space.
1^st floor of 5.
Air-conditioned and double glazed.
Fully furnished.
Private parking.
Asking price – 450 000€.

Isola Bella.

Two bedroom, two bathroom apartment.
Large east and south facing balcony.
78 sq.m. living space.
1^st floor of 2.
Fully furnished.
Air conditioned and double glazed.
Garage and cellar in the basement.
Asking price – 550 000€.

Rue Mace.

In the heart of Cannes and a stones throw from the Palais des Festivals. Perfect rental property. The apartment is on the 4^th and top floor of a good building, and is entirely and well renovated and furnished.

Three bedrooms and two bathrooms.
100 sq.m. living space.
10 sq.m. of roof top terrace.
4^th floor of 4.
Aspect – east and south.
Air conditioned all rooms.
Fully furnished.
Asking price – 745 000€.

Interesting Thoughts

LoveNotWar — Fri, 23 Nov 2007 08:29:52 +0000

Whilst thinking about Video Posts, and to temper the previous one with a dose of reality (never a bad thing) I came across this video … makes you think, if its stats are true, and I suppose they are …

A visit to Cannes!

LoveNotWar — Mon, 19 Nov 2007 09:22:07 +0000