by rumble of Home Hunts

St Tropez is often said to be the jewel in the crown of the French Riviera, and there are many interesting properties to buy, either as holiday homes, or as primary residences. The most sought-after areas in the region are St Tropez, Ramatuelle, and Gassin, with surrounding areas of Plan de La Tour, La Garde Freinet, Ste Maxime, and St Raphael also offering exciting investment possibilities. However, what is there for the property developer, or the private individual who wants to build his own dream house? Home Hunts, the South of France Property Search Specialist, went on a journey to discover what land possibilities there were in the heart of the Cote D'Azur.

A client came over to St Tropez last week looking to buy land. He had found a good plot in St Raphael, on the Cote D'Azur for 350,000EUR, which he could build on (400,000EUR) and then sell for 1-1.2mEUR. Unhappy with the potential margin, he started to look with us in search of better margins.

We looked hard for a week and mostly the Immobilier told us that there is no land whatsoever to buy in the St Tropez area with a sea view. Most of the best positions were taken up by people moving to the Cote D'Azur thirty years ago; they built then, and the property is either kept in the family, or sold for large sums of money. These properties now are 30 years old, and can be "renovated" - ie smashed down and rebuilt new. However, the prices will not allow the builder to make much money. So what interests are there in the St Tropez area for the property developer?

What are we looking for?

1. They are looking for a piece of land with a sea view. Why? Because it is a sure bet for resale and rental income if it does not sell.
2. A good sized plot where you can build a big house 250m2 plus. Remember there are different laws in different areas depending on the percentage of land you can build. Usually it is 10%, but can be as low as 7% and as high as 15% in some cases.
3. The golden triangle; St Tropez, Ramatuelle, Gassin. These areas are sure to sell quick, and property developers need to sell quick.
4. Flat land; sloped land can be built on, but you are putting more money into the ground than on top of it, which may or may not be built into the sale price.
5. As much land as possible, so a large house is not squashed in a small plot. The house should be built south facing, with as much of the view as possible.
6. Not overlooked by other properties.
7. Private domain for security.
8. Close to local shops despite the exclusive domain.

What we found

Plot 1: St Maxime 2500m2 660,000EUR
This plot looked fantastic, with a 180 degree sea view, looking over the golf courses and with St Tropez in the distance. Near the golf, in a safe private community, and 4 minutes drive to the heart of town. The land was 2500m with quite a large slope. Not overlooked, with neighbours on both sides, but facing in a different direction. The problem was that you could only build SHON (i.e. living space) 185m2, as it was the last plot on a private community. Build costs would be high (500k¬) as it was on a slope, and resale would be only about 1.2m¬max. Profit would be very little even if it was sold straight away.