Situated on the temperate Cote d’Azur amongst the foothills of craggy, forest-clad mountains is the popular French resort of Nice. With its desirable Mediterranean climate, stunning coastline and well-heeled residents, Nice is probably one of the most desirable locations for overseas investors thinking of buying a property in France outside of Paris.
Brimming with stylish shops, restaurants and boutiques, as well as several fine arts museums, stunning shaded gardens, an unspoilt pebble beach and a casino, Nice has a lot to offer both residents and tourists alike. Its temperate climate ensures that Nice remains a year-round attraction for people from all over the world. Its stunning hilltop location, good transport links, including a several ferries and a nearby international airport, as well as its proximity to Corsica and Provence are other reasons why people find property in Nice such an attractive prospect.
Residents are also serviced by a number of prestigious international schools and several world-class golf clubs. Besides tourism, there is also a thriving IT and research industry centred around a large industrial park called Sophia Antipolis located just outside of nearby Valbonne.
A vibrant international community with a population numbering close to 350,000, Nice is an exciting locale in which to own property. Not only is the rental market extremely lucrative, but the resale value of Nice real estate remains high, growing steadily at the rate of around 8% per year*, despite the economic downturn that has hit other parts of France.
Property in Nice ranges from high-end seafront apartments to impressive terraced hilltop villas, many of which boast private swimming pools and scenic views, as well as many of the luxurious extras you would expect from real estate in such a trendy, upmarket location. Although property prices are relatively high compared to the rest of the country, it would be inaccurate to suggest that Nice real estate is only affordable for the über-rich – there are homes and flats available to suit every taste and budget.
Reasonably-priced accommodation and real estate bargains can still be found north of the Nice train station, particularly if buyers don’t mind doing some renovation work, or are prepared to consider an apartment block or one of the gated communities situated in the surrounding hills and mountains inland. With property for sale in Nice in high demand, land is also being developed to the west of Nice, bringing some much-needed fresh stock onto a somewhat over-subscribed and undersupplied market.