News Affordable Côte d'Azur U
K-BASED Erna Low Property (020± 7590 1624) has forged a new
relationship with a developer offering apartments on the French Riviera at prices that are surprisingly affordable for the area. The collection includes apartments with views to the sea and of the pretty hillside around Menton, near the Italian
border, which range from €428,000 to €1.2 million for a penthouse with a huge roof terrace. Back towards Cannes, in the popular coastal resort of Antibes-Juan Les Pins, the com- pany is marketing a residential development in the heart of the town, where two-bedroom apart- ments start from €415,000. An hour inland, a few flats are
still available in the 168-acre golf- and-spa resort at St Endreol. Prices start at €287,000 for a two- bedroom leaseback flat in this popular spot, which was built in 1992 in the Provençal hills.
Flats in the dramatic Menton hills may not break the bank
The enduring Take three: riads in Marrakech
appeal of London W
ITH such a significant exchange-rate advantage for inter- national buyers, London property remains a magnet for
foreign investment. Prices have been pushed up to and beyond the previous peak levels seen in 2008, and yet, with the weakness of sterling against other world currencies, discounts are still being enjoyed by buyers in foreign currencies. According to Hamptons International, only 26% of their London sales in 2010 were to British buyers. ` This compares with just over 40% before the market down- turn,' explains Adam Challis, head of research. ` In contrast, the resurgent demand from Far East buyers and, in particular, from European buyers, has been very strong; one in four buyers of prop- erty in our prime offices is of European descent.' Mr Challis says that purchases are made on behalf of children studying in the UK, as well as adding to personal property portfolios. ` In the case of most Chinese and Russian buyers, securing UK assets continues to be a credible exit route for capital from those countries.'
Only 26% of central London properties are sold to Britons
Villa Cheval d' Or, €4.95m This new villa, inspired by the Alhambra in Granada, has its own hammam (020± 7016 3740;
www.savills.co.uk/abroad) Upside The views from the roof terrace of the Atlas Mountains Downside It' s in Palmeraie, so not ideal for the Medina
Riad Ksiba, £500,000 This restored riad is run as a B&B with six bedrooms. The roof ter- race has views over the city, and the Medina is nearby (020± 7351 2383;
www.aylesford.com) Upside All the furniture is included in the sale price Downside The plunge pool is just thatÐ not ideal for Moroccan heat
Riad Ourika Road, €1.95m This five-bedroom riad, six miles from Marrakech, has a hamman, a sauna and a massage room, plus a putting green (00 212 6 6160 4200;
www.emilegarcin.com) Upside Cool, clean interiors Downside Again, it' s not in the heart of the action
48 Country Life International, Spring 2011
www.countrylife.co.uk/international
Hamptons International Research; Andrey Semenov/Alamy; Dreamstime
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