The financial Times in its weekend edition on Saturday the 3rd of November has concluded that Nice’s new tram way system (one of the largest infrastructure projects in Europe) has opened up whole swaths of Nice to the canny investor. Quoting founding director and CEO of Totally Riviera, Dennis Broadfield, the FT continues - “Broadfield says more and more tourists are seeing Nice as a destination in itself, not just an airline link to the rest of the [French] Riviera. Better and more stylish shops and restaurants are opening along the tram route and the associated infrastructure has transformed Nice in a way that will have a continued economic effect for many years. I bought an apartment right on the tramway myself. It was just too good of an opportunity to miss.”
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I am sure that the prices will go up in Nice over the next 3-4 years, especially for quality flats in the centre. I myself bought a flat in Avenue de Fleurs and I am looking for more to invest. In comparison with London, Dublin, Paris, Moscow, Monaco, and even less expensive places the prices are not expensive and are undervalued. Nice has got it all- nice climate, brilliant food, good mixture of people, style, culture and lots of opportunities. It is good for old, good for young. There are some flats to die for if you can spend 400000 Euro or more. To give you some comparison - for the same apartment in the centre of London/ good area of London you would pay minimum 10000-15000 Euro per square metre as for a comparable apartment in Nice - just 4000-5000 Euro. With new trams and more investers coming from Russia, UK, Ireland and Scandinavia (ie. North) it is easy to predict what will happen. My guess that next year we will see 10% rise from where prices are now. If you don’t buy now, you will fall in love with the place anyway in future in will have to play double the price for the same property anyway! But who listens to advice… Well, act now better… if you can.