The latest developments in Nice and its property market

Nice is not the sleepy little fishing village it once used to be.  As the metropolitan capital of the French Riviera, this once typical Nicois city has evolved into a dynamic international hotspot for tourists and locals alike. Nice is giving other popular cities along the Riviera a run for their money.

Read our recent article in French Property News June Edition.  French Property News Article June

How much does Cannes property cost?

by Juanita Viale, Nice Properties Real Estate

If there is a more contrasted real estate market, it would be the Cannes property market. With a base price of real estate, not far from the railway and from the center of the city, from 4500 to 5500 € / m² and higher prices closer to the beach or to the hills of la Californie, la Croix des Gardes and Super Cannes.

From the «Palm Beach» area to the Palais des Festivals, as well as on the famous Croisette, apartment prices on the first line from the beach varies from 10 000 to 60 000 € per m². The closer you are to the famous hotels and the Palais des Festival, the higher the price. Typically, 1 million euros for a 2-bedroom apartment and from 3 to 6 million for a 3 bedroom  apartment with a sea view. Prices of villas and prestigious penthouses range between 10 and 15 million …

The port of Cannes.
In the prestigious luxury residences in the hills (Californie, Croix des Gardes), prices average 12,000 € / m² and can reach up to 22 000 € / m² for a more exclusive accommodation.

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However, in the central areas: «la Banane», «Suquet» or near the old port, the prices are more affordable – 8500 € / m², ie, 2-bedroom apartment will cost about 400 000 euros, 3-bedroom -between 650 000 to 900 000 euros, a million for a 4 bedroom 120sqm apartment.

Prices for  villa are also different: Provencal or modern villa in «la Croix des Gardes», «Oxford» or «Montfleury» will cost about 1.3 million euros. Villas near «Californie» or «Super Cannes» with sea views, a swimming pool, with luxury finishes, will cost from 2.5 to 5 million euros.

A rare seafront apartment for sale that screams renovation

Location, Location, Location

Rare to find a large sized apartment in an absolute prime location that needs a renovation. Directly on the Quai des Etat Unis in Nice, in front of the beach, where they recently expanded the pedestrian way. Just near the new Sulzer parking lot and park and of course all those great restaurants in old town by the Opera house.

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HUGE POTENTIAL

A 160sqm 4 bedroom apartment located on the 2nd floor of a Bourgeois building. A very large double sized living room with fireplace that opens up onto the balconies, a kitchen, 4 bedrooms (one of which opens onto a 20sqm terrace), 2 bathrooms and 2 separate toilets.

With one of the best sea views just across the street from the beach, overlooking the newly expanded pedestrian walkway and bike path the greenery and palm trees make the views even more beautiful. A 20sqm terrace located  off one of the bedrooms with a direct unobstructed view of the new Sulzer park that is on top of the parking lot is an deal for spot doe your summertime BBQ’s.

A dream property for someone who enjoys renovation. Certainly is a dream property for the interior designer because it is a space that offers so much possibility where you could really do something spectacular incorporating its originial features like curved archways and french doors.   In Old Nice, it is so hard to find an apartment this large facing the beach that offers so much potential. A gem to be had.

Producing Income from Your Investments

by Peter Brooke, Indpendent Financial Advisor- Spectrum IFA Group

If you’ve managed to put aside money for your retirement, good job — no one else has been saving for you. But how do you change the balance of your assets to be able to draw an income to supplement a smaller, land-based income or to pay for your lifestyle into retirement?

* Restructure your investments before you need the money. This gives you time to ride out any difficult market years before you retire or move ashore. Crises in stock markets always affect stocks in pre-retirement worse, so protect the value of your funds in the few years running up to taking an income, but keep one eye on inflation as this will reduce the buying power of the “pot” of money you’ve built up.

* Consider the total value of your retirement assets — shares, pensions, funds, investment properties, cash and bonds — as one entity. Then ask yourself, “If I had all of this as cash today, what assets would I buy to give me the income I need?” This question helps you reassess all your assets and bypass any loyalty to a certain asset type, such as property. If Dave bought an apartment nine years ago for €180,000, rented it out and paid off the mortgage, and the apartment is now worth €280,000 with rent at €1,000 per month, after management charges, this works out as a 3.8 percent yield. Dave may do better using the money from the property elsewhere, perhaps by reinvesting in bonds.

* Once the income starts, look at each asset class in terms of income stream and cash flow rather than capital appreciation. It’s important to try and grow the “pot” to beat inflation, but the income is paramount. Yields on equities today are outstripping most government bonds; the capital may fluctuate but the income will remain. To draw an income of €3,500 per month, you need an asset pot of approximately €900,000. With €42,000 per year, a proportion of the cash can be put in longer term assets (property, equities, etc.) to help grow and replace the funds you withdraw.

Many yacht crew have a large proportion of their assets inside insurance bonds, as they offer tax-advantageous growth and income. However, some don’t offer a way to take a “natural income,” as the funds are all accumulating-type funds. The income that you draw down by cashing in fund units affects the underlying balance and needs to be rebalanced with a steady internal income stream.

New Payment Services Offer Financial Advantages

There is no surprise that technology changes the way we live our lives. With instant information and services at our fingertips, traditional methods of doing things are now competing with newer and faster options that make life easier.

Traditional processes like banking is one of them.

While banking is obviously still a necessary means of controlling your money, some of their functions are seeing more competition from payment services such as Bitcoin and currency exchange.

While bank accounts and obtaining bank loans are still imperative in ones personal finance, attractive options for currency exchange are making people take a second look at how they are conducting their personal business.  Features like Fixed Forward contracts that guarantee a fixed price over 2 years can be advantageous especially when the financial markets are volatile and unpredictable amid an uncertain economic ambiance.

Whats more is how currency exchange companies can truly compete with banking institutions with lower rates because of their high trading volumes that in the end can save the client an average 3-5% more than the banks with a faster transfer time included. So that means if you are moving a considerable amount of money, there are definitely real savings to be had here.

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A sign of the times that reminds us to take another look at how we are doing things to manage our lives. It might be worth your time and money!