Nice, a property market as busy as ever

Over the years, Nice has succeeded in retaining its legendary atmosphere. On the shores of the Mediterranean, France’s fifth largest commune attracts a considerable number of tourists. Both residents and visitors have one thing in mind : to enjoy its high-quality life-style.

A symbol for the entire Côte d’Azur, this town famous all over the world can offer irrefutable arguments : an international airport, a fabulous Mediterranean climate, an enchanting coastline, closeness to the countryside, the mountains and Italy, as well as its very own culture, marked, among other things, by its culinary specialities. Not forgetting the extensive rehabilitation undertaken in recent years to contribute towards the town’s embellishment and offerings. Place Masséna, La Coulée Verte, and the future delivery of Tramline 2 linking the port to the airport, all form part of these large-scale developments. The people of Nice are particularly well-blessed !

Borne & Delaunay, a well-known player on the property scene since 1950, pursues several activities relating to Nice’s real-estate market (”syndic” responsibilities for co-owned properties, rental management, sales and rentals of all kinds, in all areas of the town and on its near periphery). Maureen Delaunay works in this family enterprise with a well-established reputation. In her opinion, the most vital thing in transactions is to come up with a good estimate and be capable of justifying it to the seller, but also the buyer. Furthermore : “It is essential to obtain mandates at the right price, but you also need to know how to use the means of communication we dispose of to present these properties to their best advantage : having good photos taken, creating virtual tours, using the appropriate media, including social networks, to ensure top visibility…”. Nice is a very buoyant market, and extremely heterogeneous. “The price per sq. metre varies depending on the neighbourhood, the type of property, its condition and, of course, its outlook,” explains our expert. The price bracket is thus very wide : in the modest neighbourhood of Pasteur, the price per sq.metre ranges from 2,000 to 2,500 €, whereas at the heart of the highly residential Mont-Boron, it can attain 12,000 € ! On the very fashionable Coulée Verte, the agency recently sold a 1-bedroomed apartment of 31 m2 with a terrace, on the 4th floor, as part of a VIR operation (“Vente d’Immeuble à Rénover”, or Sale of a Building to Renovate), priced at 245,000 €. In the lower part of Cimiez, it enabled a first-time buyer to acquire a studio of 26 m2 with a small outdoor area, for 118,000 €.

Barbara Pietra of Cosmopolitan Real Estate, an agency focusing on the “Golden Square” and sales of properties to foreign clients, knows her area very well. From Boulevard Gambetta to the Rue du Congrès and from Boulevard Victor Hugo to the Promenade des Anglais, she estimates prices within a range of 5,000-6,000 € per sq. metre, with spikes up to 7,000 or 8,000 € if the property offers bonuses such as a view of the sea. “My clients are mostly couples in their fifties from Scandinavia, who pay cash,” she says. Clients wanting to invest in the capital of the Côte d’Azur and spend their holidays here. By way of example, Barbara Pietra mentions “an apartment of 100 m2 on the top floor of a building on Rue de France, offering a sea view and a garage, which we sold to Swedish buyers for 850,000 €”. There are, however, a few exceptions, such as a couple of French retirees from outside the region who have just acquired a 2-bedroomed apartment of 75 m2 with a terrace and sea view, also on Rue de France, priced at 560,000 €.

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