Interview Keller Beach Magazine
Magrey & Sons, fair weather for transactions on the Côte d'Azur
The luxury real estate market on the Côte d’Azur is recovering. Returning confidence, a favourable environment for investments, the readjustment of prices... The founders and managers of estate agents Magrey & Sons talk about the reasons for this upturn.
You are the founders and managers of the real estate agency Magrey & Sons. We would like to talk about luxury real estate on the French Riviera.
How was 2017?
After a few years (2015 and 2016) during which the premium mar- ket suffered from the European geopolitical situation and was also aggravated by the damaged image communicated by our previous president to foreign investors. These last 18 months have proved the return of a true renewed confidence from all key actors of the real estate market (purchasers, professionals, pro- moters...). Cannes, for example, has known extraordi- nary transactions within a few months, with seven sales between 12 and 50 Million Euros.
You used the word “confidence” ; what is the importance of confidence in the framework of a transaction?
It is essential that our client can have a stable mid- dle-term / long-term vision as well as the assurance of an environment conducive to such investments. Regarding this environment, the “Macron effect” has been a decisive trigger, and the clients are reassured by the new pro-busi- ness climate in France. Indeed, the reduction of taxation on the capital is regarded as a positive signal.
How do you imagine the coming years?
It seems that all indicators are green, and that moreo- ver, we take advantage of the rejection of some destina- tions, due to the Brexit aftermaths, the unrest in Spain relating to the Catalan vote, the unwelcoming message of the United States. All these troubled events make France appear as a stable destination. In addition, the premium real estate market is built on solid foundations, thanks to the readjustment of prices and to the fact that it does not depend on a unique type of clients. Nowadays, we observe that our clients come from very different backgrounds: the Scandinavian cli- ents are very strongly represented, such as the Germans, the British and the Swiss. Middle-Eastern clients are also still very present on the market.
What are the strengths and the identity of your agency on this ultra-competitive market?
Magrey & Sons is a family company, founded more than 20 years ago. But our story with the real estate sector started in our childhood. In fact, our father was one of the key actors for the development of this premium market. Facing with the arrival of some international agencies, we ensure a perfect knowledge of the market and the vari- ous micro-markets constituting it, as well as a strong local basis in all sought-after areas (St Tropez – Ramatuelle, Cannes, Mougins, Cap d’Antibes, Villefranche sur Mer, Cap Ferrat) thanks to a professional team offering its experience and know-how. We are proud of a tai- lor-made approach of our French and international clients, to whom we claim to help them with our expertise, beyond the simple real estate transaction. The overall service provides tax, legal and commercial assistance.
The founders and managers of family company Magrey & Sons.