Look through the key hole to the wonders of Nice

by Charlotte Ashton France

With the recent nationwide release of Tim Burton’s Alice in Wonderland on the 5th March all eyes have been on Johnny Depp. Details of where a celebrity of such stature eats, works, and lives are all of great fascination to the general public especially when they hit our screens in a multi-million dollar movie. It comes as no surprise that as Depp bursts into the limelight again we are all intrigued by his choice to spend a lot of his time in between jobs in his family home just across the channel in Nice, a desirable property hotspot in the South of France. Living with his wife and two children and sharing the famous region with stars such as Elton John and world wide events such as The Cannes Film Festival it is great to know that a location popular with many Brits for over 100 years is also favoured by the A List celebrities.

Nice is easily accessible from the UK, although if one has a private jet this would never be a problem, and the climate, ambience and leisure activities offered in the area ensures a real ‘adventure in wonderland’ whenever you choose to visit. For those looking to invest in prime real estate, apartments are available on the Promenade des Anglais from as little as €178,000 for one bedroom, €228,00 for a two bed and stretching all the way up to €1,580,000 for a top of the range luxury 3 bedroom suite. All apartments on ‘The Prom’ have one thing in common and that is the fabulous vista across the med.
For more information on buying or letting an apartment in Nice contact please contact Agence 107 Promenade on 00 33 4 93 44 83 83, email contact@107promenade.com or visit www.107promenade.com. 

150 Reasons to Buy In Nice

by Charlotte Ashton France

One might wonder how the Patron Saint of Nice was and is still today Saint Rita – not a terribly Francophile name by any stretch of the imagination. Well Saint Rita was in fact Italian and became the patron Saint of Nice and of Hopeless Causes in 1543.

Known at that time as the Niçois, the mighty Italians used the hapless Rita – an unknown and common laundress – to frighten off the advancing Turks.   Rita, as the story goes, was of ample proportions and really not a great beauty. The macho Italians made her climb a ladder above the parapet and display her wares to the shocked Turks who graciously turned tail and went home.
Nice remained Italian until 1860 when the Italian King sold Nice to Napoleon III in exchange for financial and military help. The Niçois were allowed to vote so there would be no repercussions about being ‘sold down the river’.  The voting booths were manned by units of the French army and this may well have affected the outcome which saw 99% of the population voting in favour.
It was around about this time that the English ‘discovered’ Nice for themselves and we have been madly passionate about this slice of France ever since. The wealthy English arrived in their droves, building homes, hotels and churches. It was THE place to be seen and the French very kindly extended the railway on from Marseille to reach Nice ensuring even more well to do Brits could enjoy the Riviera and take a stroll down the Promenade des Anglais.
So this year Nice is celebrating its 150 years of ‘Frenchness’ by putting on 150 special events over the summer. Kirkor Ajderhanyan is the MD of Agence 107 Promenade and he told us, “The major has announced the celebrations. It is to be a festival of community spirit and they are hoping to get all the patrons of Nice to roll up their sleeves, spruce up their districts and meet the neighbours. There will be some wonderful cultural and sporting events in the summer and we are expecting tourists from all over the world to come and attend.”
Kirkor goes onto say, “Due to the high volumes of people descending on Nice we are expecting an upturn in both property sales and rentals – particularly on the Promenade where it is usual for most of the excitement to take place. Many of our luxury apartments have the most tremendous views of the Promenade des Anglais and they are the envy of the city on high days and holidays like these”.
Apartments are available on the Promenade from as little as €178,000 for one bedroom , €228,00 for a two bed and stretching all the way up to €1,580,000 for a top of the range luxury 3 bedroom suite. All apartments on the promenade have one thing in common and that is the fabulous vista across the med.
For more information on buying or letting an apartment in Nice contact please contact Agence 107 Promenade on 00 33 4 93 44 83 83, email contact@107promenade.com or visit www.107promenade.com.
— ENDS —
On the market:
Promenade des Anglais, Nice France
A truly spectacular apartment situated on the sea front of Nice and offering you a magnificent living space of 81m². This apartment has been very tastefully decorated, has a beautiful kitchen and bathroom, 3 bedrooms and a living room opening out onto a spacious terrace.

The asking price is €685,000. For more information please contact Agence 107 Promenade on 00 33 4 93 44 83 83, email contact@107promenade.com or visit www.107promenade.com.

Paris to Nice Cycle Race – Front Row Seats at the Race to the Sun

by Charlotte Ashton France

March 7th sees the start of the gruelling Paris to Nice road bike race. This year 22 teams have signed up for the 1230 kilometre race which takes 7 days and covers some extremely tough stretches of road including a very nasty climb up the Massif Central Mountain ranges. But it is the stages around Nice that sees that truly sorts the boys from the men – this is a section where the average human would be concerned whether their 3 year old car is going to make it to the top – let alone leg power.

 
The Nice stage totals 119 kilometres and the longest climb takes place over 5 kilometres up to Col de la Porte at 1068 metres.  At times this road reaches a 7.2% gradient – classified as category 1 in biking terminology.  The riders then drop mercifully back down 90 m before putting them selves through the agony of climbing to La Turbie, 485 m and then Eze at 510 m.
The race climaxes with a maddening sprint down treacherous hair pin roads, possibly more terrifying than going up, to the flat and picturesque Promenade des Anglais on Nice´s sea front where only the most courageous of the descent have a hope of expending their very last vestiges of energy in a dash for the line and victory.
This cycle race is probably the most historical event in the professional racing calendar. Kirkor Ajderhanyan who runs Agence 107 Promenade says, “This event brings the crowds out in droves onto the Promenade. Many of our properties that are available for sale are overlooking the finish line and get the most wonderful views of the last stretch of this infamous race.” He goes on to say, “I know of several owners who make this event an excuse to host wonderful parties and show off their beautiful apartments.”
For more information on buying a property on the Promenade des Anglais please contact Agence 107 Promenade on 00 33 4 93 44 83 83, email contact@107promenade.com or visit www.107promenade.com.
— Ends —
On the market:
A beautifully presented modern 2nd floor 2 bedroom apartment with terrace and loggia offering panoramic sea views. The property consists of 105 sqm of living space with living room, equipped kitchen, 2 bedrooms and bathroom. Asking price € 680.000. For more information please contact Agence 107 Promenade on 00 33 4 93 44 83 83, email contact@107promenade.com or visit www.107promenade.com.

Everybody loves a Nice carnival

by Charlotte Ashton France

Many a town and city is rightfully proud of its annual carnival – the celebration of all things local attracting residents as well as visitors from further afield. However, not many people understand the origins of this well known event and even less so its historic association with some of the most glamorous and sunny holiday destinations in the world. One of those destinations is the southern French city of Nice on the Cote d’Azur.

Taking place during two weeks in February leading up to Mardi Gras, the city explodes into lively activity and colourful celebrations. The carnival processions, prestige soirées, rock and techno concerts, entertainment and fireworks attract approximately 1.2 million people each year to the Mediterranean city. It is the biggest winter festival along the French Rivera.
The carnival is also a very flowery celebration, characterized by the Battle of the Flowers (Batailles de Fleurs). Twenty huge floats parade up and down past the public along the famous Promenade des Anglais that overlooks the sea. Each float has a team of men and young women who throw 80-100,000 flowers out to the watching locals and tourists, before the celebration comes to a crescendo in the Place Masséna in the plush city centre. 90% of the Carnival de Nice flowers are grown locally and include gladioli, tokyos, mimosa, gerberas, roses, carnations and daisies. By night the flower laden floats give way to spectacular illuminations and on the last night an incredible fireworks display.
The history of the carnival is intertwined with the history of Nice itself. The word carnival originally means ‘carne levare’ or ‘away with the meat’ and is based on the tradition of fasting or living on a restrictive diet during Lent. The practice of large Lenten celebrations and street parties with spectators wearing huge masks dates back several centuries, with the earliest records in Nice dating back to 1294.
Before fasting for forty days according to the Catholic tradition of Lent, the inhabitants of the city enjoyed rich, plentiful cuisine typical of this bountiful region of France. The people used carnival as an excuse to eat, drink and make merry before undergoing an austere 40 days deprived of all carnal pleasures. Despite this heritage however, the practice was in danger of dying out around 200 years ago when Napoleon banned such events in 1797. The modern Nice carnival dates back to 1873.
The Nice Carnival has a history of influence across the world. It can be credited with the birth of the giant model, which has cropped up in other carnivals and festivals such as in the burning man festival held in Arizona. Such huge figures, which caused consternation when they were first introduced, have been a regular feature at the Nice Carnival for over one hundred years.
‘The Blue Planet’ is the green theme for this year’s celebration (which starts on the 12th February), with more than a million people expected to participate including many of France’s most avant garde artists and designers. The warm Mediterranean climate allows the early timing of the event and ensures that visitors to the city are spread more evenly throughout the year. This means February, March and April become a popular time to visit as just before and after the carnival the city isn’t so crowded.
Kirkor Ajderhanyan, Owner of Agence 107 Promenade says, “The Nice Carnival really is the most wonderful celebration. Not only is it a hugely impressive and spectacular event, it also serves to remind visitors of the numerous attractions associated with Nice and the Cote d’Azur, such as its bustling markets, charming narrow lanes, art, museums, food, beaches, harbours, baroque churches and stylish buildings. All these things can be found within walking distance of the Place Masséna, a beautiful and palatial part of the centre of Nice where the crescendo of the carnival happens right in front of your very eyes. And where better to enjoy the carnival than from your very own apartment? A beautiful and modern 2 bedroom apartment overlooking the Place Masséna with a 35sqm terrace costs €560,000, an excellent price for such an historic location.”
Mr Ajderhanyan continues, “If sea views beyond the festivities are what you’d prefer then the Promenade des Anglais is the place to live; apartments and penthouses here are hugely desirable and attract the attention of buyers across the world. Events such as the Nice Carnival further add to the appeal of living and owning property in Nice, especially along the famous ‘Prom’. Currently on the market is a modernised and affordable 1 bedroom apartment for €365,000; this apartment makes an excellent investment purchase, accommodation demand increases dramatically around the carnival so you stand to earn an income from your seafront property too. Or for bigger budgets €680,000 will get you a spacious 2 bedroom, 2 bathroom apartment with priceless panoramic Mediterranean views.”
For more information please contact Agence 107 Promenade on 00 33 4 93 44 83 83, email contact@107promenade.com or visit www.107promenade.com.

Harvest the rewards of an investment in a French vineyard…

by Charlotte Ashton France

 

Ever dreamed of rolling hills punctuated by vines laden with rich fruit, ripe for picking, the bright sun warming your land, in advance of a plentiful harvest? With the pressures of modern life and the stress of the daily commute taking its toll on a nation struggling to pull itself out of what has become known as the worst recession faced in 100 years (according to MP Ed Balls), many British people are looking to the French countryside to make their dream of owning a vineyard a reality.
 
There are many reasons why France is the obvious and increasingly desirable choice for those looking to make this Utopian dream come true. Quite apart from the association that makes it synonymous with wine-making that dates back thousands of years, France has a great deal to offer those looking to make a new life abroad. Known to boast a more relaxed pace of life than the UK, this has recently been confirmed in a study by uSwitch.com which compared the UK with nine other European countries. The Quality of Life Index revealed that the quality of life in the UK is the poorest in Europe, whereas that of France was the best quality. Various factors contributed to this positive result for France, with the country spending the greatest amount on healthcare and having one of the lowest retirement ages of all the countries surveyed. Not only this but the French can expect to live around two years longer than their fellow Brits and France ranks behind only Italy and Spain in terms of hours of sunshine.
 
Ann Robinson, Director of Consumer Policy at uSwitch.com explains that although the UK has the highest wealth, this does not necessarily determine quality of life:
 
“There is more to good living than money and this report shows why so many Brits are giving up on the UK and heading to France and Spain… For too long the focus in the UK has been on standard of living rather than quality of life. As a result we have lost all sense of balance between wealth and well-being.” 
 
It is clear, therefore why such numbers of Brits visit France on an annual basis (2007 saw France attract 81.9 million tourists, according to the French Government Tourist Office, an increase of 3.8% on the previous year) and it is easy to see why so many decide to make the move to France a permanent one. When deciding to start a business in France, wine-making and owning a vineyard is an obvious and aspirational choice, for not only is the French culture heavily entwined with wine – France produces 550 million cases a year, according to winedefinitions.com – but there is also a great British love affair with wine (Alain Marty, president of the Wine & Business Club and wine commentator recently having credited the British as ‘good at choosing wines carefully, they really know their stuff’).
 
Owning a French vineyard is a dream for many British, and in reality more and more are realising this ambition as changes in government policy have led to greater numbers of vineyards becoming available for purchase. With property prices in France stable and the country having now officially emerged from recession, buying a vineyard can offer an interesting opportunity to overseas buyers and those looking to relocate.
 
Kirkor Ajderhanyan, Managing Director and Owner of Agence 107 Promenade, a local agency that sell exclusive property between Cannes and Monaco, recognises the appeal for British buyers,
 
“Owning and running a vineyard is undoubtedly hard work, but the sense of achievement – as well as potential financial returns – that producing and selling your own wine can give you is second to none. Not only this, but to live in a luxurious property, surrounded by beautiful French countryside extending as far as the eye can see, is a dream-come-true for many. Purchasing a French vineyard is not simply a property and land purchase, it truly is an investment in a way of life.”
 
From Burgundy to Bordeaux, there are multiple French regions that are tantamount with wine production, but when looking to relocate to France and build a new life as well as a wine business, it is important to consider the area as a whole and whether you could envisage daily life there. One region that has wide appeal is Provence, where not only some of the country’s most famous wines are made, but which also has a great deal to offer those looking at relocating. This region in south-eastern France is famed for its unique micro-climate and stunning sweeping countryside, as well as picturesque towns and villages, scattered throughout the hills. Saint Rémy de Provence is one such village, encircled by the remains of 14th century fortifications, and one of the oldest in France. The location where Van Gogh painted ‘Starry Night’ and Nostradamus was born, Saint Rémy is 20km south of Avignon and 90km from Marseille.
 
Close by, a 25 hectare vineyard, currently producing 75,000 bottles of wine a year can be purchased, near to Château Neuf du-Pape and very well-known for its white, rosé and red wines. The vineyard’s wine is sold throughout the world and it is actively participating in tasting competitions in which it has been very successful. With a main property built in the 18th century in Provençal style, as well as a swimming pool, the vineyard consists of several buildings, including a wine warehouse and wine cellar, sanitary facilities and agricultural warehouse.
 
On the market for €7,300,000, for further information contact Agence 107 Promenade on 00 33 4 93 44 83 83, email contact@107promenade.com or visit www.107promenade.com.

Living on the French coast

by Charlotte Ashton France

 

From Paris to Provence, Franco-philes find a reason and a destination to visit France at all times of the year, but what is it that keeps drawing tourists, French holiday-makers and property buyers alike to the alluring south-east Cote d’Azur coast and the 5th largest city in France, Nice?
The Provence Alps Cote d’Azur region as a whole is the most popular region for owning holiday homes with over 415,000 people already doing so and with over 10 million visitors a year to the Cote d’Azur, Nice and the surrounding towns are the second most popular tourist destination in France.
–          Outdoor life
You can’t visit Nice without taking a stroll along the famous Promenade des Anglais, indeed many will only live in Nice if they can achieve this prime real estate location adjacent to the sea front and the Baie des Anges. Established in 1822 by British ex-pats (hence English Promenade), this fairy-light adorned walkway along the coast is the perfect place to soak up the atmosphere, you go there to see and be seen.
Of course if walking is a little to slow-paced for you then hire a ‘velo bleu’ bicycle from one of 90 stations and imagine yourself as Lance Armstrong speeding down the cycle paths, well perhaps the Tour de France is one step too far for the regular customer but it certainly is the ideal way to get around town and take in the sights, for as little as 1 Euro per day. The bikes are self-service, just register online to give you 24-7 access to the velo bleu and as the popularity of this mode of transport increases so is the number of bikes with 175 stations being rolled out amounting to 1750 bikes available for hire (www.velobleu.org).
You can’t visit the coast without a dip in the sea, especially in the hot summer months. Adrenalin junkies can hire jet skis, parascend, dive, water ski and paraglide on the Mediterranean coast in Nice. Plus with 9 Blue Flag beaches in Nice alone (74 in the Provence Cote d’Azur region in total) you can be assured the amenities and cleanliness are excellent making the beaches perfect for the whole family too.
Back on dry land the markets are the perfect French shopping experience aside to the huge Nice Êtoile shopping mall. The cours Saleya in Nice is home to the flower, food and antiques markets held on different days of the week but the buzz and vibrancy is always the same. There is also the Cave de la Tour for traditional wine tasting and buying.
–          Food lovers heaven
France is renowned for its delicious cuisine, inspiring chefs and top class restaurants worldwide but you can’t imitate the real thing. When in France eat French and what a choice there is for the hungry foodie. In Nice you can sample Michelin stars at the Chantecler restaurant serving classical cuisine and for the smaller pocket, who can resist the smell of a freshly baked baguette, a flaky croissant and the rich aroma of ripening cheeses.
To wash down your meal head to Vieux Nice, the old town, made up of winding passages and walkways packed full of bars and cafes. Sample a perfect pastis, the anise flavoured alcoholic drink in the 18th Century surroundings.
–          Seeing the sights
With so many events, exhibitions and festivals on at any one time in Nice there are two free publications dedicated to keeping residents and visitors up-to-date with the cultural, sporting and musical activities available, the Nice Rendevous and Cote d’Azur en Fêtes, plus another weekly paper the Semaine de Spectacles.
A highlight of the cultural offerings are the museums and galleries. The Musée D’Art Moderne Et D’Art Contemporian (MARMAC) houses the likes of Andy Warhol’s 1965 ‘Campbells’ Soup Can plus you can’t go to Nice without admiring the Musée Matisse. Henry Matisse moved to Nice from Paris in 1917 to recover from bronchitis and never left; just walking around the city you can take in the same sights that he described as the ‘radiant colours and luminosity of daylight’.
For music lovers the likes of U2 visited this summer, Nice is a touring stop for most A-list groups but on the other end of the scale there is the Opera de Nice to enjoy.
Taking you back in time, there is the ancient Roman city of the Cemenelum to explore where ruins are on show. In 154BC the Romans were second to settle in the area after the Greeks who had named the colony Nikaia to commemorate a nearby victory – nike in Greek.
–          Interesting property
From ancient homes to the modern and sought after properties on the Promenade des Anglais… despite the world economy, real estate on the Promenade des Anglais remains in demand due to the finite number of properties offering those breath taking sea views. Kirkor Ajderhanyan, MD and owner of Agence 107 Promande comments, “prices have stayed relatively stable and in the more affluent segment of the market prices are already starting to see a rise; as always good quality properties with that location, location, location, are ever popular. Many of our clients are seeking their bolt-hole in the sun, but we also find that a large number are investing in property in Nice because it is a ‘safe’ market and they see returns from their purchase from rents and capital gains.”
Ross Elder MD of holidaylettings.co.uk states, “Accommodation enquiries are up 40 per cent year on year across the board, demonstrating growth in the ‘book direct with owner’ market where space, privacy, freedom and value prevail.” France is one of the top performing destinations for what is being coined the ‘self-catering explosion’, where people are choosing privately owned properties to rent for their holidays instead of the more expensive hotel options.
Buying your Promenade apartment doesn’t have to cost the earth either, for example, you can purchase a well presented 2 bedroom apartment of 49sqm in a prime seafront location offering a living room, balcony with panoramic sea views overlooking the Baie des Anges, kitchen, 2 bedrooms, bathroom and an allocated parking space for €285,000.
For those with a larger budget this contemporary apartment of 96sqm situated in an Art Deco building on the Promenade des Anglais offers 3 bedrooms, living room, kitchen, 2 bathrooms plus a large 8sqm terrace with spectacular sea views. It is on the market for €648,000.
–          Good access
Nice is one of the most accessible locations in the Cote d’Azur, the international airport services Nice and surrounding area, visitors come by car, boat or even helicopter. 18 low cost airlines alone service Nice International Airport from over 42 destinations, this coupled with the 73 destinations reached with the traditional airlines, all 33 of them, air access isn’t a problem. And unlike many smaller destinations in Europe and beyond, having such an established air service is reassuring for home owners who are not threatened by airline closures or reduced services like so many minor locations.
For more information please contact Agence 107 Promenade on 00 33 4 93 44 83 83, email contact@107promenade.com or visit www.107promenade.com.

Property is plain sailing in Nice

by Charlotte Ashton France

As the seasons begin to change, you may be thinking it’s all over for excuses to travel in 2009 however for France, the announcement by Louis Vuitton of its partnership with the new World Sailing Team Association, yachters will be navigating to the Cote d’Azur in the south of France this November . The World Sailing Team Association will be holding a series of regattas from now until 2011, the first of which will be held in Nice from the 7th to 22nd November. 10 teams will battle it out on the waves including a number of renowned faces from the elite sailing fraternity.

It is events such as these in which the fortunate Promenade des Anglais property owners can delight. They will have front row seats for the regatta in the comfort of their own home. The Promenade has already seen the likes of Lance Armstrong and eventual winner of the Tour de France 2009 Alberto Contador speeding through its streets this summer, the yachting ‘world series’ extends this sporting havens appeal.

Kirkor Ajderhanyan, Owner of Agence 107 Promenade, the international property agency specializing in Promenade des Anglais real estate comments, “clients come to us from across the globe seeking prime location penthouses and apartments with sea views over the famous Baie des Anges in Nice. The Promenade des Anglais is where people come to see and be seen and with so many events happening this year and planned in the future from festivals to sporting events it is little wonder why. Owners come to immerse themselves in city celebrations and many choose to rent out their properties at these opportune times to maximize returns on their properties. Nice and the Cote d’Azur is particularly popular with the yachting fraternities, the region boasts 22 Blue Flag marinas alone.”

For enviable Promenade des Anglais positioning and fabulous sea views, why not consider this spacious 6th floor 2 bedroom apartment of 72sqm for €530,000 with a lobby, living room of 22 sqm, separate kitchen, 2 bedrooms with balconies, bathroom and terrace with panoramic sea views of the Mediterranean Sea

For more information please contact Agence 107 Promenade on 00 33 4 93 44 83 83, email contact@107promenade.com or visit www.107promenade.com

2009 Global sales tour by international French agency

by Charlotte Ashton India Russian Federation

Promoting Nice real estate worldwide, Kirkor Ajderhanyan, owner of Agence 107 Promenade has completed a world tour to attract new foreign markets.

Nice, like all destinations hasn’t been immune to the economic downturn. In 2008 property asking prices reduced, however due to the limited supply on the Promenade des Anglais and high demand for the glamorous sea front lifestyle Nice offers, prices have remained reasonably stable.  Mr Ajderhanyan comments, “Despite the market, we still can’t simply wait for customers to ‘pop in’, in this era of global real estate, it is essential to make the effort to visit potential new markets and forge relationships with new customers.”
Mr Ajderhanyan has recently completed a world tour including visits to Eastern and Central Europe, flying over to Asia, and to both North and South America; an exemplary sales effort for the overseas property industry. And not one step has been without his pocket bible, ‘How to sell efficiently in 60 countries’, an essential reference book listing greetings and business practices worldwide.
 
Embracing India from Bombay to New Delhi
The new billionaires in India are eager to invest abroad; one recently purchased the one and only private estate on the Lerins Islands facing Cannes for 43 million Euros. “They have access to extremely large budgets and are prepared to spend millions of Euros to buy exceptional properties in relatively stable markets and micro markets such as the south of France”, says Mr Ajderhanyan.
 
In Saint Petersburg and Moscow
There has long been a love affair between the French Riviera and the Russians and they are now coming back in droves. Not only are the rich Russians are investing in French property but the new booming upper class is attracted as well.
 
News from Beijing
“Unfortunately it seems that the Chinese do not like to suntan so they tend to opt for cooler climates such as Canada or the West Coast of the USA. In France the Chinese are buying Parisian apartments and vineyards in the countryside but very little on the south coast”, yet Mr Ajderhanyan remains optimistic and is insistent on maintaining presence in this market with such enormous potential.

www.107promenade.com

France – a safe option for property buyers today

by Charlotte Ashton France

There were few markets spared in the economic downturn, France included, however, focus has now switched to the property markets which are recovering the quickest, and which markets offer a safe investment option. With news of France officially lifted from the recession, property agency, Agence 107 Promenade based in the ever popular Nice, in the south of France, talks about the recession and what there is to come for this region.

Kirkor Ajderhanyan, MD and owner of Agence 107 Promenade:
During the beginning of the economic recession, towards the end of 2008, when we started to notice the effects, we saw the real estate market stall, in every sector. The largest effect of this was the lack of confidence in the property market and the uncertainty of what the future holds for property in France and in most cases, people were concerned about the recession in their home countries, coupled with fluctuating currencies, which of course has a huge knock on effect in the purchase of second homes overseas.
It was not until January or February of this year that wealthy buyers started to re-enter the property market, seeking out and buying apartments of which the owners were pressured to sell. This trend has continued into summer and the number of buyers in the market has increased significantly which has been shown in the growing number of property sales.
Inevitably, six months after the start of such a severe financial crisis actual selling prices did reduce, although comparatively moderately in Nice. This has lead to one of the hardest problems we face today, the gap between what sellers are prepared to sell their properties for and the perceived worth by the buyers, bridging this gap and easing sellers into the new market conditions can be very difficult. Everything is, however, relative and those selling at slightly lower prices than in 2007 are also able to purchase at the proportionate lower value, it is only those dropping out of the market altogether, people relocating back to their home countries or those retiring that it becomes more of an issue.
The situation in Nice for current property owners has been that offers are flooding in on properties but not necessarily at the price they were expecting. For the buyer, the market has opened up with people able to afford more than they would have done 1 or 2 years ago and so it is also an exciting time. The saying ‘location, location, location’ still rings true, properties in sought after locations such as the Promenade des Anglais, the seafront in Nice, are still in demand and even less effected by the downturn so the very micro or localized markets are behaving quite differently from even the French Riviera as a whole.
Property prices on the Promenade des Anglais in particular have remained stable, over all we expect to see an increase in property prices in Nice within the next 6 months. After all, France is a ‘safe’ choice for buyers today. It has one of the best consumer protection laws in place for any other European country; the French banks do not have as much toxic debt as other banks around the world thanks to stringent mortgage criteria. Plus for the UK especially, France has always been a popular destination for holidays and property buyers alike, with visitors flocking over the Channel for the beautiful landscapes, culture and appealing warm climate, well in the south of France anyhow!
Nice and the seafront in particular, offers a good investment for a range of budgets. It’s location on the 7km stretch of coast is quite exceptional and it has a large variety of properties and prices with opportunities for resale profits in the medium-term. The City of Nice and the Urban Community are also implementing a range of urban improvement policies including the second tramway line, stretching from the East to West of the coastline taking in the administrative business centre of Nice as well as the International Airport. This will ease traffic and any associated pollution along the Promenade enhancing the atmosphere and experience further for visitors.
In the forthcoming months we expect that our local market, the French Riviera, will initially show price increases and more property movement in the higher segments of the market. Wealthy people are looking to invest in properties offering them security and stable growth. And with the constant threat of bankruptcy and negligible bank interest rates, real estate offers a tangible alternative.
For the lower and middle segments of the market, we do not feel that prices will fall any further than the 10% or so already experienced and so stability and increases are set to happen. As always the well presented properties in good locations attract more interest with buyers.
For more information on the French Riviera or to enquire about your French property requirements contact Agence 107 Promenade on 00 33 4 93 44 83 83 or visit www.107promende.com.
——– ENDS ——–
Kirkor Ajderhanyan:
Kirkor is President of the International Relations Committee FNAIM, French Real Estate Federation French Riviera.  He’s a member of NAR National Association of Realtors, a member of the Board for the French Chapter of FIABCI France Vice-President Exchange Committee FIABCI International. Regional Representative FIABCI France French Riviera. Member of the Board of French Riviera & Regional Committee FNAIM. CIPS/TRC.
On the market:
Ref. 867 Promenade des Anglais:
An incredibly spacious 1 bedroom apartment in a Bourgeoisie style building on the prestigious Promenade des Anglais, Nice. The property has a large terrace, kitchen, dining room, living room, bathroom and WC.
The asking price is €594,000. For more information please contact Agence 107 Promenade on 00 33 4 93 44 83 83, email contact@107promenade.com or visit www.107promenade.com.

Happy 10th Anniversary for Agence 107 Promenade

by Charlotte Ashton France

 

The leading player in the sea-front property market in Nice, 107 Promenade Real Estate Agency is celebrating its 10th 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.”