Nice Property Prices Buck the French Downturn

The price of property in Nice has been described as an "anomaly". Whilst the prices of property is dropping all over France the past year, around half a percent overall average, the prices of property in Nice has shot up 8% over the same time period. Whilst the top 10 cities in France have dropped over 1% since January, Nice is up over 7% from the start of this year. This brings it up to the second most expensive city in France, overtaking Lyon which has traditionally been 2nd after Paris. The article ascribes this partially to Nice being less dependent on 1st time buyers than other cities so less affected by the increase in interest rates. As a number of the "big projects" are only getting underway, especially the doubling in size of Nice's "Central Park", personally I can only see prices continuing to go one way here.