In part 1, part 2 and part 3 we discussed the reasoning behind the Loi ALUR and how to register your property for seasonal lets. The registration will allow Nice’s local government to recoup much needed funds to continue the ambitious projects that will enhance the city. Now we set out what’s in store to make Nice even better, and why now is the time to invest.
Whilst many of the ideas backed by Estrosi have been criticised for being too costly, our mayor has shamed them by unveiling superb improvements in 2015. The most impressive was the new Allianz Riviera stadium putting Nice on the world stage for future events. We’ll see this in its full glory when Euro 2016 transmits around the world.
More modest, but perhaps more valuable for tourists and locals was the Promenade du Paillon which undoubtedly provided a major facelift for Nice.
Since the mayor was convincingly re-elected in April 2014, he’s paved the way to carry out many of the construction projects he planned for Nice during his second term. All the better for bringing tourism to the city, and it will help position Nice as one of the top European cities. Nice is growing and building whereas other cities are cutting spending.
One of the grand projects still in progress is the second tramway. This will see futuristic tram stations installed at each of the airport terminals, delivering passengers into downtown Nice in less than 20 minutes (26 minutes to the Port). This will complete an efficient transport network across the city.
If funds allow, the commercial zone in Saint Isidore’s eco-district has planned 100,000 square metres of housing and business areas. Maybe a little far out for the tourists, but bringing more business opportunities into the region, plus a long awaited Ikea store, to open this year.
Major investment coupled with a legally compliant second home investment is the future of Nice, and one we think will pay off. There are big opportunities in the short and long term rental market if you are prepared to buy now, then wait for Nice to put the icing on top of its already substantial gateau.
In Part 5 we’ll give you our viewpoint on the future of the holiday rental industry in Nice.