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€265,000

70m² 2 bedroom

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This apartment is on the first floor in a quiet street between Rue Prefecture and the Cours Saleya, just 2 minutes from the beach, and has its own private entrance. The apartment currently has a large living room with offset kitchen, two bedrooms, a bathroom and a separate toilet. However, it falls far short of its potential. The two bedrooms can be knocked into one master bedroom with en suite at the rear, where it has perfect calm. A second bedroom can be built where the kitchen/bathroom is, utilising the window in the kitchen. Then a second bathroom and a guest toilet can be built in between. The kitchen can be moved into the living room where there is plenty of space. There is probably around €40,000 of renovation work to bring it up to a luxurious standard. The price has come down from €295,000 to €265,000 where it is interesting for a private buyer, though the margins will not be high enough to interest a professional developer.
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Old Town
Nice's Old Town, or Vieux Nice, is the historic heart of Nice dating back to the 16th century. The colourful narrow winding streets are full of galleries, markets, and boutiques selling everything from clothes to local produce. As evening falls the cafes, bars and restaurants are abuzz with people enjoying themselves or simply watching the world walk by. It is little wonder that this area is the hottest rental spot.

Advantages for a holiday home
  • Stay where you will spend most of your time
  • Great prices and good capital appreciation
  • Easy to let out when not in use
  • Very low taxes and monthly charges
Disdvantages for a holiday home
  • Crowded streets during the summer
Advantages for investors
  • Right in the heart of all the bars and restaurants
  • Five minutes walk from the beach
  • Most desirable spot for tourists, gives best yield
Disdvantages for investors
  • Busy and can be noisy, not to all tastes
  • No lift can cut down potential rental clients