SPOTLIGHT - THE SEASONAL RENTAL MARKET IN NICE
"The tourists are back in big numbers following the
inevitable drop-off during the Covid pandemic. There has
been a definite shift in demand towards "private home
rental" where guests feel that they are safer and more in
control of the sanitary situation. They like the autonomy
of being "home away from home", with large living areas,
a fully equipped kitchen and, above all, a garden (ideally
with pool). Rental properties must have ultra-fast internet
access and air-conditioning to achieve premium prices.
You can see by the "amenities" chart opposite that a
property with a pool, parking and air-conditioning will
stand out in the online rental listings - similarly, the
15% of properties without internet stand no chance of
maximising rental returns or minimising void periods.
France remains the number one tourist destination in
the world, according to the official Government site
90 million international tourists visited France in 2019
and we expect to bounce back to these figures. In fact,
tourism accounts for 8% of GDP. Paris is the number one
destination, followed by the French Riviera - visitors
come for the weather, the Mediterranean, the glamourous
lifestyle and the festivals. Popular spots include Cannes,
Nice, Saint-Paul-de-Vence and surrounding towns like
Vence, Tourrettes-sur-Loup and Saint-Jeannet - all are full
of character and yet close to Nice International airport.
SeLoger estimates that there are 540,000 properties in
the Nice market, with 92% being apartments and 7/10
properties have a surface area of between 40-99m2.
Highest sales prices are in the Mont Boron quarter,
followed by Le Port, Thiers and Cimiez.
There is a year round demand, although rental returns
Rental Potential!
Born and raised in Nice, Dominique Calzia is the local property manager for our sister company
Leggett Property Management. She has worked in real estate since the 1980's and has extensive
experience managing a portfolio of properties on the French Riviera.
"Tourists are back in big
numbers following the Covid
pandemic.
Tourists are back in big
numbers following the Covid
pandemic.