Real Estate Prices: Nice Continues to Soar
The Nice market recorded a 4.2% increase in a year, going against the national trend.
+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.
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.
This content has been automatically translated using artificial intelligence. While we strive for accuracy, some nuances may differ from the original French version.
