It’s a Buyer’s Market on the Riviera: Buy BB’s Villa at a Bargain

This morning I had a request from Closer Weekly Magazine to comment on the sale of Brigitte Bardot’s Riviera home. It was fitting considering that as I write this, I am on the train to Nice, passing villa after villa overlooking the blue Mediterranean waters.

When one thinks of the French actress, the first things to come to mind are: beautiful, sexy, animal rights activist and Saint-Tropez. She arrived there in the 1950’s to star in the 1956 film “And God Created Woman,” started the topless revolution on the Côte d’Azur and changed Saint-Tropez forever from the once quaint fishing village to the jet-setters holiday resort town of today. She is thought of as the “Queen of Saint-Tropez.” Now 80 years old, she is also associated with France’s right party The National Front, thanks to her fourth husband, Bernard d’Ormale, a former adviser of Jean-Marie Le Pen.

Her villa, “Le Castelet,” not far away in the town of Peymeinade, is for sale and has been since 2011. Priced at 9.5 million euros at that time, there is a main house with 14 bedrooms, a large guest house, an entertaining pavilion with fireplace, outdoor kitchen, pool house, two infinity-edge swimming pools, 16-seater Jacuzzi, cellars, wine cellar, storerooms, three vineyards and an olive grove on 450 square meters of land, all overlooking the Estérel Mountains and Bay of Cannes.

Côte d’Azur Villa Rentals promotes it as a rental property quite discretely, without divulging its celebrity owner. Touted as ideal for large groups or for corporate events and parties, the villa will sleep up to 24 guests. At a mere 13,500€ per month, the rate is a bargain considering the luxuriousness and the amenities.

It’s surprising the villa hasn’t sold in all this time, but now that the rate of exchange is more favorable for foreign buyers, perhaps some rich cat from the U.S. entertainment industry will want a “pied-à-terre” near Cannes where he can wine and dine his clients or fans!

Other celebrities who have followed in Brigitte’s sand imprints include Brad and Angelina (Pitt and Jolie) also not far from Cannes in the Chateau Miraval; Johnny Depp and Vanessa Paradis in Plan-de-la-Tour; Bono on the beachfront at Eze-sur-Mer; Elton, of course (John), whose villa overlooking Nice in Mont Boron can be seen from far and wide and Tina Turner in a gated villa at Villefranche-sur-Mer.

Even if you’re not a celebrity, fabulous homes on the Riviera are plentiful at bargain prices. Prices are forecast to decrease by up to 5% in Nice and along the blue coast in 2015. Buyers have dropped by two-thirds in recent years — from 2.2 buyers per property in 2011 to less than one per property (.7). A reduction of foreign investment is partly to blame when the rate of exchange was high, but my guess is it’s also due to the increase in capital gains tax on secondary properties that occurred in 2012.

Clearly, it’s a buyer’s market making it an ideal time to consider an investment as long as you have a long-range view.

A bientôt,

 Adrian Leeds

The Adrian Leeds Group

(photo by Erica Simone)

Respond to Adrian: [email protected]

P.S. Le Carnaval de Nice, from February 13 to March 1, is one of my favorite events of the year! Sadly, I can’t attend this year, and that means the sunny “Le Matisse” luxury pied-à-terre in the heart of the Carré d’Or is available! If you’ve ever wanted to go to this fun and colorful festival, book your stay now…and let the party begin! To learn more, visit Parler Nice Apartments or email [email protected].