Nice, simply irresistible !
2,694 hours of sunshine per year, mild winters and fabulous Mediterranean summers… All making the capitals of Europe green with envy. Though the climate is not the only asset offered by the fifth largest city in France, ranked second after Paris as a tourist destination…
With the Mercantour mountains to the north, Nice stretches back from its shoreline, its urban area surrounded by hills. Each year, the economic capital of the Côte d’Azur welcomes 4 million tourists. Since the year 2000, it has benefited from lots of improvements. Line 1 of the tramway now links the north to the east, while waiting for Lines 2 and 3, connecting the town with its west side and the plain of Le Var. The urban park called the “Coulée Verte”, a refreshing series of gardens and fountains, is undoubtedly the most spectacular development of the past few years.
“95 % of buyers with Savills French Riviera are foreigners,” says Alex Balkin, the Danish manager of the Côte d’Azur Alps subsidiary of this real-estate group based in London. “They all want amenities and centres of interest within easy reach, apartments on upper floors, open views, ideally of the sea, and outdoor areas, which they occasionally sacrifice for high-quality interiors. British and Russian clients are fond of the “Belle Epoque” style. Formerly, they simply passed through Nice ; today, they stay longer and dream of acquiring a home here. Well-off and active, they like to stroll around the town that they explore on long weekends before contacting estate agencies. The hyper-centre, or “Golden Square”, offers smart Haussmann architecture a stone’s throw from trendy restaurants, shops and the beaches. While views of the sea and terraces are few and far between, nights in this neighbourhood are quiet.” Desirable apartments here can cost up to 10,000 € per sq. metre. A price surpassed by the seafront, between the port and Negresco Hotel. Here, buyers accept noise and a mixed bag of properties in exchange for panoramic views of the sea and closeness to amenities. Apartments in handsome residences around the port often attain 10,000 € per sqm. Alex Balkin admits to a fondness for Franck-Pilatte, a neighbourhood both peaceful and leafy below Le Cap de Nice, another of his favourite addresses. The hill of Mont-Boron has always been a highly-prized neighbourhood, offering lovely views south/south-west of Nice’s Bay of Angels, the town and Château hill. Villas of 250 m2 with small gardens and refined appointments start here from 2.5 M €. The price one would also expect to pay for a penthouse of 180 m2 with a terrace of the same size, and the last word in interior decor. Finally, fans of the “Belle Epoque”, including local buyers, appreciate Cimiez, which posts prices from 5,000 to 7,000 € per sqm. A former palace, “Le Regina” tops the list with its sublime architecture, high ceilings, gardens, pool, tennis court, and the guarantee of “good neighbours”. L’Aire Saint-Michel in Rimiez, a little further north, is about to welcome a new development enjoying breathtaking views of the Mediterranean, the hills and mountains. On almost 10 acres of land, architect Jean-Paul Gomis is designing 25 apartments in five ultra-contemporary blocks, surrounded by vegetation with a tennis court, pool and golf practice. A 2-bedroomed apartment of 90 m2, prolonged by a garden of 144 m2 and a terrace of 36 m2, will cost 900,000 €. Delivery is slated for the end of 2018.
“Over the past few years, Nice has caused a real buzz, drawing the interest of property dealers and wealthy clients prepared to undertake quality renovation,” says Marie-Claire Sangouard of Engel & Völkers. The market for exceptional properties rubs shoulders with those for first-time buyers, investors targeting the appreciable income to be gained from seasonal rentals, holiday residents or senior employees working in Monaco, Sophia-Antipolis and even Paris. Very close to the heart of town, the international airport is clearly a persuasive argument. While demand is steady, transactions still post realistic prices. Marie-Claire Sangouard mentions a “Belle Epoque” property consisting of two villas in Cimiez offering total living space of 600 m2 in grounds of 3,200 m2 with two pools, on offer at 4.5 M €. Among her most recent sales, an apartment of 160 m2 benefiting from a terrace of 40 m2 and a garden of 20 m2, but no sea view, was priced at 880,000 €.
“We now hear talk of a larger “town centre” for Nice, from Carabacel to Gambetta, and from the Promenade des Anglais to Avenue Georges-Clemenceau,” explains Michaël Fusaro of Nice Properties. “Buyers want to be within walking distance of everything. Locals hope to find 1- or 2-bedroomed apartments of 45 to 80 m2, costing up to 600,000 €. Clients from Paris and Lyon, with budgets attaining 1 million euros for 3-bedroomed apartments, set their sights on the comfort and quality offered by the “Golden Square”. They are drawn by Haussmann and Art Deco architecture and prefer properties in good condition, whether for year-round or holiday homes. Foreigners are looking for 2-bedroomed apartments ranging from 250,000 to 700,000 €, for their personal use and/or seasonal rentals. They like typical Niçois buildings and the Promenade des Anglais. British and Scandinavian buyers adore authentic old stone, while Russians set their hearts on Haussmann buildings or generous terraces.” The wealthiest pay up to 3 M € for a penthouse of 150-200 m2. All sectors combined, completion times for sales range from six to eight months. Sellers are still trying to speculate… In vain, when confronted by buyers both determined and well-informed. Everyone has already heard about the incredible buoyancy of the port area, the refurbishment of Place Garibaldi and the charm of the “Petit Marais”. Finally, the west side of Nice appeals to both local and Scandinavian buyers, with its apartment residences offering generous surface areas, parks and views of the sea, such as Les Belles Terres, L’Abbaye de Roseland, Les Constellations and L’Azura Park.
