Speeding Down to Nice

Marketing Guru Lynda Sydney and I are on route to Nice on the TGV – Train à Grande Vitesse – in first class seats on the upper level, swaying to and fro as the train glides along the curves. It’s a five-hour-thirty-nine-minute ride all the way into “Nice-Ville” – with the first half to Marseille at high-speed and the second half at normal speed – only because the tracks aren’t yet in place. TGV to Nice is projected to be ready by 2025, which seems light years away when the time will be reduced by about an hour-and-a-half.
We chose to take the train instead of the 1.25-hour flight because the fare was much less and because even though we leave earlier and arrive back in Paris later, our time in Nice would have been the same. Another huge advantage is the ability to plug in our computers and work during the ride…as I am doing this very minute writing this missive.
The apartment in Nice is not yet officially mine, although it was ordained to have been signed, sealed and delivered last Friday. A legal snag presented itself the day before and now wreaks havoc on a very tight renovation schedule. As I understand it, two issues have imposed themselves on the ability to close the sale. The first is a bureaucratic conundrum whereas the documents proving the seller’s purchase of the property at auction have not yet been “published.” The second is a question over the entry that is shared by the two apartments – having originally been one now split to make two.
Our two Notaires are trying to find a solution so that I may sign the Acte de Vente while in Nice tomorrow – but it’s still very questionable. The delay is causing untold problems and expense…but there is nothing I can do and we find ourselves in the hands of the lawyers.
Purchasing property in Nice has been an adventure with many hurdles to overcome as I hack through the tangled web of Niçois real estate culture. This has not deterred me from pursuing an investment here as it is quite clear that ultimately the investment in both time and money will well be worth it. The Riviera is the second most important real estate market in France and the appeal is international. Nice is the hub of the entire area, with an international airport, viable port and great public transportation. Pleasure-seekers come from far and wide to partake of all the blue coast has to offer – sun and surf – ranging from the very wealthy to the average citizen.
Property in the central district is increasing in value and gentrifying at the hands of those who can afford to make the investment. Our clients and I will be a part of that progress – to augment the availability of luxury properties designed to attract those who demand a high standard and have the ability to treat themselves.
While the European travelers tend to vacation at certain times of the year, North Americans, to whom our properties will be designed to appeal, travel year-round and therefore will encourage a more year-round rental season. At least, this is our prediction based on what we know about our market. The concept is that while rents in Nice and environs are not much lower than in Paris, the price of property is considerably less – about one-third to one-half less, making the return on investment particularly interesting.
Fortunately we have a Nice-based Property Consultant who is top notch and is very adept at ferreting out good value properties and great locations. She is always on the hunt for rentable apartments that fit our parameters: 1. Location, location, location, 2. Not higher than third flo
or without lift, 3. Light, 4. Views, 5. Balcony or terrace and 6. Good quality building.
Finding good properties in Nice that fit all these requirements isn’t as easy as one might imagine. In central Nice, the properties are in older buildings so finding those with elevators is already one challenge. In addition, many have fallen into disrepair and therefore the quality of the buildings is questionable. In addition, the professionals in the industry tend to do business in a more Latin way – meaning sometimes it’s not very straightforward – and a naïve buyer might find himself at a disadvantage.
This is not meant to frighten would-be Riviera investors, but to warn them. It’s one of the reasons we’ve been so relentless in our pursuit of the Côte d’Azur dream, so to provide a service to protect our clients from falling into the pits along the way. I’ve already fallen myself into a few of those pits – so now I know just where they are and better how to avoid them.
Today and tomorrow I will be meeting with my contractor to review the plans, make a trip to Darty to purchase appliances, meet with our Search Consultant to discuss our clients’ projects and hopefully, sign the Acte de Vente on the rue Massena apartment. Lynda is along for the ride, to see the apartment and do a bit of work along the way. The weather is predicted to be warm and sunny. I know the moment we will see the water and the palm trees, we’ll be suddenly relaxed and in a kind of vacation mode, even though our goals are business oriented.
In addition, reservations were made at my favorite Niçois bistrot: Antoine. If you have never had the pleasure, then be sure to have at least one meal there – it’s family owned and operated, authentic and delicious, centrally located, friendly and inexpensive. You’ll find this restaurant at 27 rue de la Préfecture, Old Nice.
A bientôt,
Adrian Leeds
Editor, French Property Insider
Email: [email protected]

 
 
P.S. If you are thinking Nice would be nice as a getaway for yourself, investment and revenue, don’t hesitate to contact us: [email protected]
P.P.S. November is low season for vacation rental apartments – meaning rates are at their very best. This year, have Thanksgiving in Paris! To book your stay, visit Parler Paris Apartments or email [email protected]