Nice, from Masséna to Libération

Radia Amar - 05 October 2016

The nerve centre of the capital of the Riviera is undergoing a continual metamorphosis. After the introduction of the first tramline and inauguration of the Coulée Verte gardens, it is now the turn of the Gare du Sud area to pursue this embellishment policy. The result is a town centre very pleasant to live in, as long as you know the best addresses…

Nice Properties, an independent group of five estate agences including three in Nice, specializes in high-end properties and homes of character. It thus targets discerning buyers with comfortable budgets. “Our clientele is evenly shared out between locals, foreigners from Northern Europe and the former Eastern bloc, and French clients from other regions,” says Michael Fusaro. “Since the creation of the Coulée Verte gardens, the introduction of the tramway, and rehabilitation of the old Gare du Sud, the centre of Nice has become considerably more attractive. A view of the Coulée Verte is now highly sought-after.” In addition to roads around the main SNCF train station, the large centre of Nice enjoys a good reputation. “Properties here are very diverse. They start from 3,000-3,500 € per sq. metre on less popular streets, rising to 15,000 € per sqm. for outstanding apartments in renovated bourgeois style, on upper floors, offering views of the sea or Coulée Verte. Many properties estimated from 5,000 to 6,000 € per sqm. before the city’s major rehabilitation work are now worth around 8,000 € per sqm.” On Boulevard Jean Jaurès, for example, as far as the Museum of Modern and Contemporary Art, prices then averaged about 4,000 € per sqm., whereas today they range from 6,000 to 7,000 €. “Re selling properties in the town centre is easy, the rate of rotation is 7 years on average. Which explains the constant and satisfactory flow of offerings.” Most enquiries concern 2-bedroomed apartments of 80 to 100 m2.

Based on Avenue Félix Faure which runs along the Coulée Verte, Masséna Immobilier presents a wide selection of high-end, charming and prestigious properties within a perimeter around Place Masséna, including lovely avenues in the town centre. “In the first half of 2016, political and economic upheavals have not had any major impact on the property market in the city centre,” says agency manager Alban Leloup, specializing in this area for 27 years. Encompassing bourgeois neighbourhoods, tourist areas, and less popular perpendicular streets, this perimeter requires real finesse when it comes to estimating prices. “Depending on the floor, orientation, style, condition, the building’s appointments, and whether or not the property is overlooked, prices can range from 3,000 to over 10,000 € per sqm.,” explains our expert. The agency's clientele is shared out evenly between locals looking for their main homes, and buyers from elsewhere in search of a pleasant holiday home or an investment with a satisfactory rental return which is also a long-term asset. “Nice is still an address seen as a sound investment.” Among the foreign buyers, English, American, Swedish and Finnish join the clientele actively searching for properties. “All types of properties find takers. We are beginning to see a lack of availabilities,” adds Alban Leloup, whose agency also specializes in “viagers” (life annuities). “This activity never ceases to grow. Young buyers can become home-owners without making a down payment, while seniors improve the quality of their lives. We propose made-to-measure solutions depending on each client's age and needs.”