Nice, a highly diversified market
Members of the real-estate industry revealing the town's many different facets…
Undoubtedly the most heterogeneous town in the Alpes-Maritimes, Nice
caters for a varied clientele and a wide range of budgets. Members of
the real-estate industry contribute to our survey, revealing the
town's many different facets…
A little Eden
Close to the centre, Mont-Boron slopes down to the Med and benefits from nearby amenities. “Assets guaranteeing popularity,” says Benjamin Mondou of Lafage Century 21.
The shopping centre opened in December 2005. From then on, the eastern part of Nice, composed 70 % of apartments, 30 % of private houses, sufficed unto itself. “Les Bâtiments de France” have classified many sites here : Le Château de l’Anglais, the nature park of Mont-Boron, the Grotto of Le Lazaret, Villa Beausite and the fortress of Mont-Alban. This official body keeps a close eye on town planning, thus reassuring foreign buyers that there won’t be any unpleasant surprises. Properties also face south or south-west, enjoy a heritage handed down from the “Belle Epoque” and “Art Deco” era, roads as elegant as the Boulevard du Mont-Boron, Avenues Germaine, Jean-Lorrain and Cap de Nice, the Route Forestière, Rue de Bournazel and the Chemin des Crêtes. Except in the case of outstanding properties, prices per m2 range from 6 to 8,000 €. The Résidence Haussmann, La Cisterna and Le Cap de Nice draw fans of top-notch complexes with parks and pools. 2-bedroomed flats with garage, terrace and sea view are rare, as are 3-bedroomed apartments in bourgeois buildings. Agencies have no new blocks of flats on their books. Villas start at 1.2 million € (140 m2 with a garden of 400 m2, pool and unobstructed view). A private mansion of 400 m2 facing the sea costs 6.5 M €. Agencies are also confronted by a lack of offerings in the 2.5 M € price-bracket, usually particularly active. Mont-Boron tops the list of neighbourhoods in Nice, far ahead of Cimiez which costs 20 % less. It is popular among Anglo-Saxons, Scandinavians, a few Russians and a minority of well-off locals. Foreigners buy properties as holiday homes and rarely rent them out.
Where do the locals live ?
At a time when the authorities are sounding the alarm as regards accommodation for locals, Jacques Agid of the Agerim Orpi agency describes areas targetted by the Niçois.
The wealthiest opt for “Le Carré d’Or” (the heart of the up-market shopping zone), still occupied 30 to 40 % by the French. Apartments here cost 5,000 € per m2, occasionally 6,500 E. Then comes Cimiez, Nice’s most elegant hill. Modern blocks rub shoulders with prestigious “Belle Epoque” buildings such as the Winter Palace, Hermitage and the famous Regina. In this quiet, leafy and residential area, a car is essential and heavy traffic is a problem at certain times of day. Apartments in older residences cost 4,000-4,500 €/m2. Villas start at 750,000 € (150 m2 + garden of 350 m2) and, except for top-notch examples, rise to 1.3 million € (250 m2 + garden of 500 m2). Other locals appreciate areas on the hills west of Nice, La Lanterne or Fabron. With a terrace and scenic view of the sea, the sale will go through at about 4,000 €/m2. Gairaut, to the north, is an address favoured by fans of villas. Its popularity isn’t new : for equivalent properties and prices, gardens are larger here than in Cimiez. Faced by an exponential rise in prices recorded over the past few years in the centre, the Niçois have headed for the active areas of Lépante, Libération, République and Riquier, at an average 3,200 €/m2. “70 % of transactions in my two agencies in the eastern part of town concern local clients”, says Jacques Agid.
Foreign investors looking for holiday homes
Monica Cyrul of the agency Nice Properties doesn’t beat about the bush : “The Anglo-Saxons and Scandinavians are all keen to be in the town centre or right on the seafront”.
International buyers set their hearts on the “Carré d’Or” (or “Golden Square”) and are ready to disburse the money to pay for it. They are looking for high quality appointments, usually demand an air conditioned property which is ready to move into, and also appreciate terraces and “Belle Epoque” architecture. 40 m2 is the ideal size for purchasers of “pieds-à-terre” (ie. 1-roomed apartments) which generally post prices from 250,000 to 300,000 €. A first-class product can, however, rise to 8,000 €/m2. Low-cost flights from England to Nice Airport explain the high number of British clients. Back in force, Scandinavians are very fond of views of the Mediterranean. This particular feature naturally explains the high prices on the Promenade des Anglais, a sector that can be split into four distinct parts. Apartments offering terraces on the stretch from the Quai des Etats-Unis to the Meridien Hotel post prices of 7,500 €/m2. The stretch as far as Gambetta, even though quieter, drops to 6,500 €/m2, then to 4,500 €/m2 if one pushes on towards Magnan, and 3,500 €/m2 in the Arénas neighbourhood close to the airport. North Europeans are also attracted by the port area and are ready to spend 4,500 €/m2 if the apartment is in impeccable condition. As for buyers from the East, they are looking to invest in the town centre. The capital of the Alpes-Maritimes is well-known all over the world. Demand is constant, and Nice Properties is working at developing more and more partnerships with foreign estate agents.
Outstanding properties
While Cannes, Monaco, Villefranche, Beaulieu and the capes top the list of prestigious addresses, Nice follows close behind… As explained by Pierre Karim of Haussmann Real Estate.
Mr Karim sets the price of outstanding villas in Nice at 5 million €. Quite normal, as the town hasn’t yet felt the surge in prices witnessed by some areas on the Côte d’Azur, though Mont-Boron is beginning to reflect the trend. In fact, in the area close to Villefranche-sur-Mer, the record asking price is currently close on 12 million € (800 m2 in grounds of 6,000 m2 with panoramic sea view). Also in demand are the Cap de Nice and Boulevard Franck-Pilatte. Buyers still dream of properties at the water’s edge, too rare even here. Cimiez boasts some very beautiful mansions, though mostly without terraces or views. The Regina, a magnificent “Belle Epoque” palace, symbolizes the “nec plus ultra” in apartment buildings, architecture and location, though some buyers prefer smaller co-owned properties. High-quality apartment residences include Le Beau Rivage on the Quai des Etats-Unis, Villa Prat at the beginning of the Promenade des Anglais, and Résidence Haussmann on Mont-Boron, where an apartment of 150 m2 with sea view and terrace has just been sold for 1.4 million €. Then there are exclusive addresses such as the Negresco or the Cours Saleya. A 3-bedroomed apartment of 90 m2 recently changed hands here at 850,000 €.
Interviews by Laetitia Rossi - photos : press
