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A very Nice investment

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AssetzThe allure of Nice has never been difficult to understand, with its romantic seaside views, cinematic associations and celebrity glamor. Now, with its new tram system in place, all of the city’s neighbourhoods are more accessible than ever to both tourists and investors, creating even more reasons to choose to buy on the French Riviera.

Around 60,000 passengers can be carried via the Tramway de Nice, according to the Telegraph. As a result of the tram, which was one of the largest infrastructure projects in Europe, the city centre has experienced some positive regeneration – with enhanced features including an attractive new pedestrian piazza and additional car-free zones.

Perhaps more importantly, certain areas and suburbs that were previously inaccessible have been opened up, creating some less expensive alternatives for property investors.

“The tram has had a huge effect. The further inland you head from the Med, the lower the prices, so Nice is now more affordable to the average buyer,” Boz Gill, the Nice-based agent for French specialist VEF, told the Telegraph. He described some “lovely old buildings” that were previously considered too far from the centre and are now more likely to attract interest from buyers.

Claire Healy of Attika International echoed these comments and told the publication that further tram lines planned for the next five years are set to create even more investment opportunities in what is recognised as one of the most affordable areas to buy on the Riviera.

She said that “even the expensive areas around the Carr d’Or, Quartier des Musiciens and the port are much cheaper than the best spots in Cannes”, while sites near the station could also be appealing. The new tram lines could mean “even more outlying areas will benefit from the Nice effect”, Ms Healy added.

With its improved transport links in place and more on the horizon, investment in Nice property France shows no sign of slowing. According to Nick Dowlatshahi, managing director of Leapfrog properties, Nice and the rest of the French Riviera have a lasting appeal for investors, who are drawn to the area “even in quite slow, difficult times”.

He explained that this area of the country – and Nice in particular – is popular among French as well as British buyers, who are willing to pay large sums for the right investment. Speaking about cities on the Riviera in general, Mr Dowlatshahi said: “They’ve got so many nice beaches, they have got a lot of attractions there and they have got an excellent transport system.

“It’s got a special atmosphere in the Cote d’Azur Nice property which you don’t find anywhere else.”

Jim Barnaby is a real estate investment broker and successful property investment adviser delivering research and selected UK and overseas property investment solutions with experience in spanish properties, french property investment, German property, Cyprus holiday homes,

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