Buying property in Nice
Those purchasing property in Nice generally fall into two categories: holiday home buyers and private and professional investors. We have written two different guides, one for each category, as their priorities are different. Buyers sometimes fall into both categories, wanting to use the property a few weeks a year and then rent it out when not being used to cover costs. Feel free to read both guides. When contacting us, please let us know the importance of each category to you.
The Holiday Home
Finding a home rather than investment is about working out what you are looking for. What is most important to you. Would you prefer a larger apartment even though it is an extra five minutes walk from the beach? Some dream about a balcony to sit outside and sip a glass of wine. Others a cosy pied-a-terre. Each area of Nice has its own character, from the architecture to the amenities. Is the draw to be near the excitement of the Old Town? To be seconds from the beach? Or do you plan to eat and relax on a terrace.
To some extent your budget will dictate the area, and the extras you can get. A sea view can add 50% to the price of a property, a terrace can be an extra 25%. A nice building costs, as does if it is a top floor or on a prestigious road. If you do not mind a ground floor or do not mind walking several flights of stairs, then you can probably get an extra bedroom for the same price. Sometimes a must-have dictates the area, for instance you can have an apartment in the Old Town or an apartment with a terrace but not both.
Once you have decided on your budget, please read our guide and then put together a list of the most desirable characteristics you want your dream property to have. Even give each one an importance one to ten. Most importantly, decide which areas you like the look of the most. From this we can start to work on putting together your portfolio.
The Best Investment
Nice offers a very solid investment with fairly good returns. During the property boom various Eastern European and Asian countries were offering incredible-sounding returns, but as we know they soon collapsed. Nice never dropped in price. Rental demand has remained strong. We go into the reasons for this in our guide.
Budget very much dictates the area. There are great bargains in the Old Town at the budget end, plenty of apartments just behind the beach with some outside space in the mid range, and penthouse suites on the sea front with stunning views at the luxury end. Location is the number one factor in choosing a rental property. As we walk into some apartments you think “Goodness this is small!”. If you are buying the apartment partly for yourself then you need to tell us as this will influence our choice of properties. Otherwise we have made our clients a lot of money over the years and know which apartments will give you the maximum returns.
Properties turn over quickly in Nice and bargains can sell within days. What you see online and the properties we send you are merely representative of what you can expect. We put together your final portfolio 3-4 days before you arrive, and adjust it as necessary right up until the day of your arrival. However if you see any advert on any other web sites that interest you then feel free to send us the links for our honest assessment.