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My clients will know that I am not a big fan of new build in Nice. Due to the historic nature of the city, it is rare to find a new build in a prime area. The very few that occasionally crop up are very expensive at around €8,300/m². However in France as a whole, new build has started to rebound.
In 2016, 116,681 private buyers bought new build... an increase of 25% over 2015. The reasons are split roughly 50/50 between the "Loi Pinel" and the "PTZ" (Pret a Taux Zero) tax incentives. New build prices crept up in most parts of the country, whereas in Nice they crept down 1.7%. At an average price of €5,138/m² it is still one of the most expensive areas in the country to buy a new build.
Though new build projects are scattered in and around Nice, expect a lot more at affordable ones to come onto the market soon around the new Eco Valley area. The hundreds of millions of euros being poured into the area, including infrastructure and a new tram line, could make it interesting for a tax-paying French resident as long term investment.
In my opinion, there are much better bargains to be had in the city centre, and my position has not changed regarding investing in Nice. ... See MoreSee Less
1 month ago