Real Estate Prices: Nice Continues to Soar

+4.2% on apartments in 12 months

Contrary to the national trend, 2023 has been marked by a significant increase in real estate prices in Nice. According to the barometer of FNAIM and Clameur, the average price per square meter for apartments has gone up by 4.20% over a year to reach close to 5000 €. A slowdown looms, however: over the past three months, the growth has been more moderate with a rise of 0.40%.

To put these figures into perspective, a 70m² dwelling has gone from an average of 335,000€ to close to 350,000 € in just one year, thus showing the strong dynamism of the Nice market.

This inflation in rates is coupled with a sustained pace of sales.

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A potential gross yield slightly increasing

In parallel to the rising prices, rents have also seen a notable increase, settling at €16.9 per square meter, a progression of 4.50% over the year. This evolution can be explained by the increase in borrowing rates, which forces some people to remain tenants rather than acquiring a property.

For investors, this increase, slightly higher than that of prices, has significantly boosted the potential for gross yield. According to the barometer, it is currently averaging 4.10%. Therefore, real estate investment in Nice remains relatively attractive.