The excellence of Nice’s real estate

An irrefutable reference on the Côte d’Azur, the Century 21 - Lafage Transactions group continues to define Nice’s property market thanks to its strategic locations, its dynamism and recognized expertise. Its Manager, Benjamin Mondou, shares his analysis of a market as lively as ever.

With 10 agencies in the most highly prized neighbourhoods in Nice, plus Villefranche-sur-Mer and Beaulieu-sur-Mer, Century 21 - Lafage Transactions offers an exceptional showcase of the most highly-prized addresses on the coast. Completed by Lafage Horeca, dedicated to commercial real estate, the group provides all-round expertise for a varied clientele. Benjamin Mondou, who manages the entire group, describes a Niçois market which remains dynamic, though marked by a lack of availabilities, especially at the top end. In his view, activity remains steady whether around the Port, along the Promenade des Anglais, in Mont Boron or Cimiez. The Port, in particular, is seeing real effervescence and drawing an increasingly diverse clientele.

“In the case of buyers, there are 2 predominant profiles,” explains Benjamin Mondou. “Niçois residents wanting to adapt their home to their way of life, and a clientele both French and international drawn by the idea of a high-end second residence. Investors are also back, though with a new strategy. Many now give priority to long-term rentals, offering stable income of around 4 % while helping to enrich a rental portolio of quality, an important challenge in a town where demand remains high among the locally employed. New rules governing furnished rentals for tourists have also led our teams to guide owners towards a mixed model : 9 months of student rentals followed by 3 months of seasonal rentals. Currently, everyone is adopting this solution rather than selling their properties. It is a pragmatic approach, especially within a context in which student accommodation is becoming increasingly complex. Furthermore, this type of combination allows landlords to obtain an average rental income attaining 7 %, which is higher than many financial investments.”

As for the high-end clientele, it is primarily turning towards prestigious turnkey properties, even if it means paying more for the tranquillity they provide. By way of example, Benjamin Mondou mentions a neo-Provençal house of over 200 m2 combining charm with quality appointments. Enthroned in landscaped grounds of 3,000 m2 at the heart of Le Parc du Vinaigrier, and enjoying clear views of the sea and town, it is on offer at 3.3 M €.

Generally speaking, Nice’s market is doing well, though it is necessary to make certain sellers aware of the evolution in prices and margins for negotiation. Nice remains a city that looks to the future : the rarity of stocks maintains sound values, and properties of quality in prime locations, with no renovation required, continue to sell rapidly. Demand is still particularly strong, with carefully renovated apartments, ready to move in, among the most sought after. With no exag­geration, Nice can lay claim to being an exceptional property market.