The global ranking of the most expensive cities from the Wealth Report by Naef Prestige and Knight Frank has just been released, and surprise, surprise: Nice has made a fantastic entry! With an average price of 15,000 USD/m² (= 15,000 dollars), the city joins the big players where the cost of living is no joke, not far from Geneva, Singapore, Sydney, and Los Angeles. Basically, that means setting up your home in a 50 m² in Nice would (theoretically) cost you a modest sum of 750,000 dollars. A small change... unless you plan to live there without working too much.
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The French Riviera, it comes at a price!
If prices are skyrocketing, it’s because Nice has everything to offer: sunshine, turquoise sea, a dreamy lifestyle, and a cultural and economic dynamism that attracts both tourists and investors. The result: demand is soaring, and unfortunately, real estate is following suit…
Of course, these figures are high-end averages, often driven up by exceptional properties. But they do reflect the general trend: in Nice, finding a place to live is becoming a real luxury, and the pressure on real estate continues to rise, especially in the central areas and along the coast!
Source: Henley & Partners