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Real Estate Prices: Nice Continues to Soar

With a 4.20% increase in apartment prices in 2023 and strong sales volume, Nice is one of the few cities that continues to progress in the real estate market. This momentum is also perceptible at the level of rents, where the annual evolution reaches 4.50%.

| Published on 16-01-2024 14:00 

+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.

Assurance Vie

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.

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