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 is making a lovely appearance on the list! With an average price of 15,000 USD/m² (= 15,000 dollars), the city joins the metropolises that don't mess around when it comes to cost of living, standing not far from Geneva, Singapore, Sydney, and even Los Angeles. Specifically, this means that setting up in a 50 m² place in Nice would (theoretically) cost you the modest sum of 750,000 dollars. A mere trifle… unless you plan to live 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 dream lifestyle, and a cultural and economic vibrancy that attracts both tourists and investors. The result: demand is soaring, and unfortunately, real estate follows suit...
Of course, these figures are still high-end averages, often driven up by exceptional properties. But they do reflect the general trend: finding a place to live in Nice is becoming a true luxury, and the pressure on real estate continues to rise, especially in central and seaside neighborhoods!
Source: Henley & Partners