The leading player in the sea-front property market in Nice, 107 Promenade Real Estate Agency is celebrating its 10^th anniversary this year. Agence 107 opened its offices to the property hungry public ten years ago in 1999 and they remain at the same address on the Promenade des Anglais today.

A decade ago a studio apartment was worth just €60,000 to €80,000, today that same studio apartment would cost between €175,000 and €235,000 on average. Since then Agence 107 Promenade has grown, they now have 16 staff representatives, 9 locally in Nice among whom 5 are from the founder’s family and 8 representatives spread all over the world in Moscow and Saint Petersburg (Russia), Miami and New York (USA), Almaty (Kazakhstan) and Kiev (Ukraine) and also as far as New Delhi (India), Beijing (PRC), Taiwan and Manila (Philippines).

As Kirkor Ajderhanyan, founder and owner of the agency comments, “Following the massive arrival of customers from Russia and the former Soviet republics, we now forecast a significant increase in our customer base from Central Asia and South East Asia. Of course the international financial crisis did not spare the property market of the Promenade, but it brought down the prices requested by the sellers to more realistic levels, at a time when large increases were not justified. In 2009, The Promenade remains a very attractive and accessible property market with a wide range of price levels and real opportunities for capital growth. This is also due to the numerous efforts the City Hall and the Urban Community are making to re model Nice as a ‘green city’ by diverting and reducing vehicle traffic. The quality of living on the Promenade will be the first to benefit from this policy and so will the value of the properties on one of the most iconic stretches of real estate in the world. With such assets, the Promenade des Anglais, more than ever, becomes the leading property spot of the French Riviera.”