For the second consecutive year, the city of Nice ranks just behind Paris in terms of property prices.
The Nice property market shows no signs of slowing. TVMonaco examined this phenomenon positioning Nice as France’s second most expensive city, with average prices hovering around €5,400 per square metre, well above the national average. The report illustrates this finding with a five-square-metre studio overlooking the Promenade des Anglais, listed between €350,000 and €400,000—over €12,000 per square metre.
Ever-increasing demand
Several factors explain this price surge. Nice combines the advantages of a dynamic metropolis with those of a sought-after resort destination. Its international airport attracts wealthy foreign buyers, particularly Americans, Scandinavians, and British. The post-Covid effect has also played its part: numerous Parisians have chosen to relocate there, both as primary and secondary residences, notes a property expert interviewed by the Monégasque channel.
© Aéroport Nice Côte d’Azur
Faced with this sustained demand, supply is struggling to keep up. Estate agents have very little stock available, which is putting further pressure on prices. In ten years, the Nice market has seen a 40% increase. According to industry professionals, this trend is set to continue.
Beyond Nice, the entire Alpes-Maritimes department has high prices. With an average price of €5,234 per square metre, it ranks as the third most expensive department in France, just behind Paris and Hauts-de-Seine. In just a few years, prices have risen by 17.4% for flats and 14.9% for houses, according to Meilleurs Agents.