Details Published on Tuesday October 3, 2023 11:20 a.m. by the Meilleurtaux Editorial Team
Against all expectations, the Nice real estate market is experiencing exceptional growth, while the price per square meter in mainland France has fallen by 0.4% over the year. In Nice, property prices are rising by almost 8% per year, reaching €5,292 per square meter.
Nice overtakes Paris in real estate prices
Important Unlike the ten largest French cities, whose property prices fell on average by 1.1%, Nice recorded an increase of more than 7% in one year.
The increase in borrowing rates and the reduction in real estate loans seem to have no impact on this market, propelling Nice to the rank of the second most expensive city in France to own a property, thus overtaking Lyon.
What rate for your project?
The assets of Nice
The demographic structure of Nice, characterized by a high proportion of residents over 60, makes it less sensitive to variations in interest rates.
In this economic period, first-time buyers are penalized, while the cities which maintain their growth are those where second-time buyers predominate, like Nice.
These buyers, less dependent on loans, can reinvest capital from previous sales in new projects, according to Alexandra Verlhiac, economist at SeLoger.
Price disparities
Property prices in Nice vary considerably depending on location.
ImportantThe most affordable neighborhoods are in the northeast, such as Ariane (€1,934/m²), Roquebillière (€2,974/m²) and Pasteur (€3,677/m²).
Conversely, the most expensive neighborhoods include Mont Boron (€8,170/m²), Rue de France (€6,914/m²) and Jean-Médecin (€6,379/m²).
Nice, an affordable alternative compared to Cannes and Antibes
Despite the rise in prices, Nice remains more affordable than its neighbors Cannes (€6,058/m², up 8.5% in one year) and Antibes (€5,681/m², up 1.4% in one year). year).
Thus, Nice remains an attractive option, allowing a couple of second-time buyers to acquire 55 m², compared to 47 m² in Cannes and 50 m² in Antibes.
To remember The Nice real estate market contradicts the national trend with an increase of 8% per year, reaching €5,292/m², surpassing Paris. The high proportion of elderly residents in Nice reduces sensitivity to interest rates, favoring second-time buyers. Prices vary greatly depending on location, but Nice remains more affordable than Cannes and Antibes.
2023-10-03 10:53:59
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