Along with Bordeaux and Lyon, Nice is one of the three most expensive provincial towns in France. With a median price of 4320 euros per m², according to French notaries, Nice is the 3rd most expensive city in France (excluding Île-de-France). Despite the gloomy context, real estate prices continue to soar on the Côte d’Azur: +8.3% for houses and +5.3% for apartments, over the past 12 months. For some, you will have to pay 613,000 euros to afford a 120 m² residence. For the second, you can still acquire a 54 m² for 4320 € per m², according to the notaries of France. “The real estate market is very active in Nice, even if we have noticed a slight slowdown in volumes since the start of the school year, explains Julien Baldoni, Grand Bleu Immobilier network director. We have many couples who want to settle down and families who want to grow». «Prices will remain strong as demand remains very strongadds Me Florian Pernès, notary in Nice. This penalizes first-time buyers who are forced to move to the hinterland or carry out major work if they manage to find accommodation in the city center“. Real estate agents and notaries have noted the influx of Parisians, aged 50 to 60, wishing to settle in the South with a view to their retirement.
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The “golden square” in the center of Nice is very popular with wealthy households, especially seniors who want all the shops nearby. “Prices can go up to 10,000 euros per m². The buildings are of good quality“, explains Me Sabine Debusigne, notary in Nice. More residential, the Colline Cimiez district, known for its high-end buildings, Greco-Roman remains, appeals more to liberal professions. As for the mythical Promenade des Anglais, it has becomea resort». «For a Nice, it is too noisy and much too expensivesays Me Debusigne. Prizes can exceed one million euros. Without inheritance, you can’t live there“. The proximity of the airport, the rise of Airbnb and the revegetation desired by the mayor Christian Estrosi are no strangers to this.
Located to the south-east of the city, the Port district, 25 minutes from the airport, faces a “strong demandsays Benjamin Mondou, president of Century 21 Lafage Transactions. “The arrival of the tramway, 3 years ago, changed the face of the district which has long been neglected, says this real estate agent who has been practicing for 20 years. The offer of catering, shops has developed a lote”. Baptized “the little Marais”, this trendy district, located between Place du Pin and Place Garibaldi, appeals not only to locals but also to Scandinavians – “who renovate everything from A to Z(Benjamin Mondou) – or to the English who are “amazed” by the transformation of the city.
Mont Boron is popular with CSP+
Consequence: in ten years, real estate prices have more than doubled. “Fifteen years ago, a 120 m² apartment cost 180 to 200,000 euros in this district. Today, it is worth nearly 600,000 euros“, underlines Me Sabine Debusigne. Between the Port and Villefranche-sur-mer, Mont Boron attracts foreign business leaders (Americans, Swiss, Germans, Scandinavians) but also Parisian seniors. This hill, which culminates at more than 191 meters, has a forest massif of 57 hectares, with a view of the Baie des Anges. It is also a residential area made up of many villas valued between 700,000 and 800,000 euros minimum. “The attractiveness of the Port is in the process of extending to two other neighboring districts: Riquier and Saint-Roch which benefit from the extension of the green corridor to the Palais des Exposconcludes Benjamin Mondou.