Bones, Smoke and Mirrors

I’m getting a work-out visiting properties in Nice and loving every minute of it. Normally our search consultants do the “heavy lifting” — meaning doing the property visits with the clients (not me) — and then I am called in at the end for the final “seal of approval” on the property chosen by the client to purchase. In this case, our search consultant in Paris did the heavy lifting by Internet and phone with our Niçois contacts and then I came down to Nice to manage the visits myself. It keeps me on my toes and staying in touch with what it means to be “on the ground.”

Once the rain stopped last weekend in Nice, the city has been solid sun and blue skies with cool air and light breezes…perfect. It’s so glorious that being out walking everywhere is exactly what the doctor ordered after a long gray, cold and rainy Paris winter. (I really have to do this more often…twist my arm!)

Our client’s offer on the apartment overlooking the new tramway was accepted! (See the latest edition of Parler Nice to learn more about it!) Our resident designer/contractor visited the property with her to discuss the renovations that will update and enhance the property. The layout of the apartment makes it easy to add a second bathroom, open the kitchen to the spacious living room and create a master bedroom with en suite bathroom. In about a year’s time, when the tramway is silently snaking past and the apartment is newly renovated and happily inhabited, our client is sure to feel a tremendous sense of satisfaction and pleasure.

Over the course of two first days, we visited more than a half-dozen apartments in the Carré d’Or, Quartier des Musiciens, Quartiers des Fleurs and Nice Centre. The price per square meter in Nice is not as consistent as it is in Paris and properties can range in price as different as 3,000€ per square meter within the same district. Those we visited ranged from 4,400€ per square meter to more than 7,000€. The factors that change the price are of course: sea view or view, terrace or balcony, integrity of the building, orientation to the sun, etc. and there is a broad range of possibilities.

The “fun” for us now begins to manage the purchase until closing — a process that will take several months. We’re working with a Niçois notaire on these transactions, as the Niçois notaires do not get along very well working with the Parisian notaires and their style of doing business is entirely different…so we gave up the idea of using our Paris notaire of 17 years to manage these transactions and opted to “go local.”

Another client arrived last night to begin a search today for a larger apartment in central Nice — three bedrooms. We did a couple of advance visits yesterday and my heart exploded when we walked into a 148 square meter apartment literally in the building next door to mine on rue Masséna. The living room is almost as big as my apartment in Paris (about 55m2) with four large windows and a long balcony overlooking rue Masséna, another window on the side street (also pedestrian) with beautiful parquet flooring in “point d’hongrie” (herringbone) style that would make a fabulous dance studio…and an even more fabulous living room/dining room/party room. This will be the first one we visit and am certain the client will love it for all it’s attributes, even without the sea view. I personally know how much fun it is to live on rue Masséna — what I call the “parade route” — but because it’s pedestrian, the noise is limited to voices and the occasional musician who serenades us in the evening.

Properties in Nice are getting scarcer by the moment as demand is high. We are seeing prices begin to creep up in conjunction with the demand. The good properties get sold within days and the lesser ones can sit for a long time. We saw a newly renovated apartment in an old bourgeois building overlooking the MAMAC (Museum of Modern and Contemporary Art) at which there is the unescapable giant “Square Head” sculpture (and habitable building) by the French artist Sacha Sosno. If the parking lot just next to the apartment wasn’t “in your face” off the balcony, the apartment might have been very seductive…but that just blew it…unfortunately.

“Bones” are what matter most…the things you cannot change (like the parking lot in the view, the location, etc.). I call the rest “smoke and mirrors.” What can be changed, is an easy fix — like a new bath and kitchen, changing non-structural walls, adding classic features, such as molding and fireplaces, etc. So, my job is to look beyond what is there obstructing the clear view of the “bones” and determining the true value of the property for habitation and for investment purposes (potential rental). Seeing beyond the walls that are there, along with grandma’s wallpaper and outdated appliances, is one of those quirky talents of mine. It’s all about the potential of redressing the bones that exist to create a beautiful “body” and attractive “face” — one that the owners can live with and enjoy.

If you’re thinking of making Nice (or other enclave along the Mediterranean in France) your home away from home, then do let us make it happen for you. I am always happy to have an excuse to spend more time here and our qualified staff in the south is growing by the moment. Just contract me at [email protected] to learn more.

A bientôt,

Adrian Leeds
The Adrian Leeds Group

(by Erica Simone)

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P.S. It all begins with a one-on-one consultation, by phone or in person, in which we work with you to determine your objectives and parameters for an investment in France. There is a one-time fee that applies toward our property services, so nothing is lost along the way. You will find this time and small investment in reaching your goals very, very valuable — so if you wish to move ahead with your goals to invest in France, schedule your consultation today! Email [email protected]