The opening of Europe’s most modern tramway in the southern French city of Nice is expected to lead to significant investment opportunities for property investors, writes Damian Carroll.
Kinvara property specialist and GMIT business graduate Mr. Donal Warde this week launched a free property finding service in the French Riviera, the most sought-after area in the world for luxury apartments and villas. Based in Nice, Chez Riviera commences operation the same week as French President Nicolas Sarkozy is scheduled to open an 8.7km tramway in the popular Mediterranean coastal city.
The tram service will open up previously underdeveloped suburbs of Nice, including Malaussena and Avenue Republique, to property investors. The introduction of the new service also coincides with Ryanair’s launch last month of a daily direct service from Dublin to Nice International Airport.
Chez Riviera, which is the only Irish estate agency in Nice, represents buyers seeking apartments and villas along the French Mediterranean coast. It has a database of thousands of properties for sale across the Cote d'Azur, from Menton to St. Tropez. Owners Donal Warde from County Galway and Aideen O'Brien from County Mayo (pictured left) have lived in Nice for several years and have extensive experience of the property market on the Cote d'Azur. The G.M.I.T. business graduates also possess an in-depth understanding of the legal and other processes involved in property ownership in France.
“The coming months will present significant opportunities for any Irish people considering investing in overseas property, particularly in Nice”, explained Mr. Donal Warde of Chez Riviera. The Kinvara-native continued, “Areas that were previously a half hour walk from the main beach will now be a short five minute tram journey away. Major residential developments have already been earmarked for the areas concerned, which has led to an influx of investors and a subsequent rise in property prices.”
Commenting on the Tramway’s effect on City centre property prices, Mr. Warde said, “The project has transformed the centre of town with much more pedestrianised streets, a cheap, clean and modern form of transport, and urban renewal around the northern and eastern suburbs where the tram is running. We expect prices in the centre to maintain their strong growth and demand.” He indicated that the property market in central Nice and surrounding areas represented great value for Irish people dismayed by sky-high house prices at home.
“The French Riviera is often and incorrectly associated with unaffordable properties. However, the reality is that properties in or close to the centre do include many reasonably priced old and newly built apartments and villas. In the City’s Quartier des Musiciens, for example, a two-bedroom, furnished apartment with balcony can be bought for EUR265k. Such a property would be estimated to yield EUR800-1000 a week in rent, which could prove attractive to investors”, said Mr. Warde.
For more on Chez Riviera call Freephone (from Ireland) 1800-818644, email info@chezriviera.com or see www.chezriviera.com.
Kinvara property specialist and GMIT business graduate Mr. Donal Warde this week launched a free property finding service in the French Riviera, the most sought-after area in the world for luxury apartments and villas. Based in Nice, Chez Riviera commences operation the same week as French President Nicolas Sarkozy is scheduled to open an 8.7km tramway in the popular Mediterranean coastal city.
The tram service will open up previously underdeveloped suburbs of Nice, including Malaussena and Avenue Republique, to property investors. The introduction of the new service also coincides with Ryanair’s launch last month of a daily direct service from Dublin to Nice International Airport.
Chez Riviera, which is the only Irish estate agency in Nice, represents buyers seeking apartments and villas along the French Mediterranean coast. It has a database of thousands of properties for sale across the Cote d'Azur, from Menton to St. Tropez. Owners Donal Warde from County Galway and Aideen O'Brien from County Mayo (pictured left) have lived in Nice for several years and have extensive experience of the property market on the Cote d'Azur. The G.M.I.T. business graduates also possess an in-depth understanding of the legal and other processes involved in property ownership in France.
“The coming months will present significant opportunities for any Irish people considering investing in overseas property, particularly in Nice”, explained Mr. Donal Warde of Chez Riviera. The Kinvara-native continued, “Areas that were previously a half hour walk from the main beach will now be a short five minute tram journey away. Major residential developments have already been earmarked for the areas concerned, which has led to an influx of investors and a subsequent rise in property prices.”
Commenting on the Tramway’s effect on City centre property prices, Mr. Warde said, “The project has transformed the centre of town with much more pedestrianised streets, a cheap, clean and modern form of transport, and urban renewal around the northern and eastern suburbs where the tram is running. We expect prices in the centre to maintain their strong growth and demand.” He indicated that the property market in central Nice and surrounding areas represented great value for Irish people dismayed by sky-high house prices at home.
“The French Riviera is often and incorrectly associated with unaffordable properties. However, the reality is that properties in or close to the centre do include many reasonably priced old and newly built apartments and villas. In the City’s Quartier des Musiciens, for example, a two-bedroom, furnished apartment with balcony can be bought for EUR265k. Such a property would be estimated to yield EUR800-1000 a week in rent, which could prove attractive to investors”, said Mr. Warde.
For more on Chez Riviera call Freephone (from Ireland) 1800-818644, email info@chezriviera.com or see www.chezriviera.com.
