Photograph by Dennis West of Direct Photographics
Home All-Stars: Great Distances
January 1, 2006
France
Despite france’s natural and architectural beauty, the percentage
of foreigners buying estates or apartments there is still small–but on the rise. “Here,
99.7 percent of real estate is owned by the French,” says Lionel Macaire of Belles Demeures de France. But there is little mystery, he adds, as to which parts
of the country are the most attractive to outsiders.
A 16-bedroom chateau in the heart of France’s Rhone Valley
combines 18th-century design with 21st-century amenities. (Click images to enlarge) ; function voidFunc() { } voidFunc();)
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An almost-mandatory annual stop for those on the international social circuit, the South of France–Cannes, Nice, Saint-Tropez and neighboring beach towns–will always be a popular area with buyers. Realtor Filoména Di Domenico of Anciennes Demeures in Montpellier says that many foreign customers are heading to the Languedoc Roussillon area’s departments of Gard, Aude and Herault for beautiful landscapes as well as castles, residences and farms that are full of history.
The value of luxury properties in the South of France has risen recently, with prices doubling over the last five years to an average of $1.3 million. In Paris, where people buy apartments rather than estates, the cost is about h1,000 ($1,220) per square foot, according to Macaire–and is increasing about 15 percent a year.
Those buying in Paris are snapping up properties in the sixth, seventh and eighth arrondissements on the Left Bank (where the museums are) and around L’Étoile along the Champs Élysées, according to Macaire. “Those districts are Old Paris,” he says, and adds that “west of Paris is the next most popular area; there are old private luxury estates within 30 miles. Farther west, around Deauville, are stud farms for racehorses; near Orléans and Tours the draw is the Renaissance castles of the Loire Valley; and you have Bordeaux because of the wine.”
For those concerned about the strength of the euro, Macaire claims you still receive high value for your money. “A 250-hectare (617.5-acre) property with
an 18th-century castle, just an hour out of Paris, is being offered for k1.3
million ($1.586 million). You can’t buy a New York penthouse for that.”
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The 20,000-square-foot Villa Estrella Mar ($7.2 million) near
Puerto Vallarta. Photograph by Dave Marlowe, Courtesy of Webster Enterprises, Santa Fe, New Mexico. (Click image to enlarge).
The appeal of mexico includes a richly varied culture and the advantage of being close to the States. “[Puerto Vallarta is] no longer the sleepy town where Night of the Iguana was filmed,” says Chris Webster of Webster Enterprises, which currently represents properties ranging from $1.8 million to $7.2 million in the region. “There’s a big international airport, and Puerto Vallarta–the best of all the coastal environments and the gateway to the area–has expanded by 100 miles. To the north, Punta de Mita is setting the world on fire. It appeals to those who want the best amenities and new, fine materials.”
“The development of Puerto Vallarta, Punta de Mita and the Nayarit coast is a special phenomenon for Mexico,” notes Alexis Burwell of La Punta Realty. The number of occupants is restricted, and the low density preserves the environment and creates “balance that is essential for the high-end coastal lifestyle that people dream about,” he says.
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