Is there any land left in St Tropez?

St Tropez has often been referred to as the jewel in the crown of the French Riviera. There are still many interesting properties to buy in the area, either as holiday homes, or as primary residences. The most sought after positions 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 for 350,000€, which he could build on (400,000€) and then sell for 1-1.2m€. Unhappy with the potential margin, he started to look with www.home-hunts.com in search of better margins.

We looked hard for a week and most 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 peoperties 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 interestes 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 shopes despite an exclusive domain.

What we found
Plot 1: St Maxime 2500m2 660,000€
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.

Plot 2: St Maxime 2500m2 1,100,000€
This plot had the same incredible 180 degree sea view and was in a private domain. Land was flat, and you could build 15% and at 7m. This made for a 350m2 house, which would be excellent. Build costs would be relatively lower at about 700,000€, and a new houses in the area were selling at 3.2m€. This looked like a much better margin. Not in the golden triangle, so a quick sale would not be as likely as say St Tropez/Ramatuelle.

Plot 3: St Tropez 6600m2 1,370,000€
This large flat plot with and existing house of 110m2, and great garden with lots of pine trees. 6600m2, with a SHON of 182m2. You can old build 3.5m high due to restrictions, but the house could have large terraces and a lage garage underground. The house would be built south facing, at the back of the garden, and would give to a majestic feel. 1.5km to the beaches and in a nice private position, not overlooked. Build would cost 700,000€, and resale would be potentially 3.5m€. In the golden triangle, but no sea view.

Plot 4 Ramatuelle 3500m2 1,800,000
Small plot with an existing house. Building permits for 350m2, but resale despite being close to the main St Tropez beach, and in an exclusive area, would be 3m€ max. No sea view. Build costs would be large, as the the land is on a slope; 800,000€ would be an estimate build cost. Would suite soebody who wanted to buy in that area, and build their own house, but only a very small profit could be made, if at all.

The two interesting plots for builders were the 2nd two, and quite a fair profit could be realized with these projects. These are available for sale on www.home-hunts.com, but you would need to be a professional.

There are still plots of land available in the St Tropez area, for individuals who want to build their own house, live in them, with the profits being realised in 5-10 years. There are also plots available for builders to turn over at a quick rate.

www.home-hunts.com can help you make the right decisions when buying land, as there are quite a few obstacles to overcome when finding the right plot. Home Hunts have English and French builders who can help you with your project. Please e-mail rumble@boardnlodge.com for more info.