A lifestyle on the front line. One of the most beautiful addresses in France stretches for about 7km. In addition to private beaches, establishments such as the Negresco, the Palais de la Méditerranée or the Casino Ruhl, the Promenade des Anglais is home to a considerable number of buildings and - rare - small character houses. A niche real estate market that makes it one of the most prestigious on the Côte d'Azur, attracting mainly an international clientele. Here is a detailed analysis of the micro-market of this famous seaside, with particular attention to current sale prices and those recorded over the last 12 months.
Current prices on the Promenade des Anglais
Apartment prices vary greatly depending on the specific location on the Promenade des Anglais, as well as the view, floor and condition of the properties.
Area between the Negresco Hotel and the Albert 1er Garden : In this highly sought-after area, prices are at their peak, with sales recorded between €12,000 and €15,000 per m² for medium to high quality properties. Exceptional apartments, particularly those in perfect condition and with stunning sea views, can exceed €25,000/m² . This area remains a reference point for buyers looking for exclusivity and prestige.
Area between Gambetta and Magnan : This part, although still very attractive, displays more affordable prices, ranging between €6,500 and €8,000/m² . These values are particularly influenced by the relative tranquility of the area and a certain distance from the busiest tourist areas.
Area near the airport (Carras) : Further west of the Promenade, close to the airport, prices drop considerably, reaching levels around €4,900/m² . Although the proximity to the airport may be a disadvantage for some, it represents an opportunity for buyers looking to invest at a lower cost while still benefiting from the appeal of the Promenade des Anglais.
Price developments and recent trends
Over the last 12 months, the market has shown a slight increase in prices, particularly in the most central and prestigious areas. Demand remains strong, particularly from foreign buyers, who represent around 70% of transactions on the Promenade des Anglais. This phenomenon contributes to maintaining high prices, particularly for apartments with sea views. Some exceptional properties have sold well above average prices, reinforcing the upward trend in areas such as the Carré d'Or and around the Hôtel Negresco. (source 107 Promenade)
2 rooms 78 m2 on the 2nd floor: €780,000
3 rooms 93 m2 near Negresco: €1,166,000
3 rooms 104 m2 Bourgeois high floor: €1,390,000
Market outlook
For 2024, the scarcity of properties for sale on the Promenade des Anglais should continue to support high prices. Most transactions are done by word of mouth, with a limited supply that does not meet demand. For investors, there remains an opportunity to acquire properties in less popular areas such as Magnan or Carras, where prices are still affordable, but with long-term appreciation potential.
The real estate market on the Promenade des Anglais is undoubtedly one of the most dynamic and sought-after in Nice. Prices vary greatly depending on the area, and they remain in a high range, supported by foreign demand and the scarcity of luxury properties. Investors looking for an emblematic address, with potential for added value, will always find opportunities in this area, even if the best locations are selling at a premium.
For those looking to sell or buy in this area, it is advisable to understand local specificities and consult specialist real estate experts in order to seize the best opportunities on the market.
Comments