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VIVRE SA VILLE

De la création de produits originaux aux nouvelles technologies de l’information et la communication, les entreprises azuréennes sont un véritable atout de la région. Economie, banque, immobilier, urbanisme, architecture… cette rubrique se place au plus près des initiatives et transformations de nos villes. Ici, le concours ArchiCOTE vient également tous les ans récompenser les projets d’architectes les plus engagés et inscrits dans leur territoire.

July 2020

La cote des quartiers

 

 

 
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The port area has undergone quite a transformation in the past 20 years. Now that it has a tramway, pedestrian streets, and a younger population, what is its real estate worth? Here are the most recent estimates.

In just a few years, many ageing shops and mostly-deserted bars and restaurants have been turned into popular, fashionable nightspots. The most well-known on Bonaparte street are Malabar Station and the trendy Deli Bo and Comptoir Central Electrique with their famous Sunday brunches. Bonaparte street has in fact become the heart of Nice’s Petit Marais district, to the point of painting the rainbow flag on its streets. Restaurants like Chez Papa, with its excellent wine cellar, and coffee shops such as Café Paulette and the Italian Per Lei attract many patrons, and the area is also famous for home decoration and fashion with Babalux, the concept store Chabada Mon Œil and the very contemporary Joya Lifestore. The emperor Napoleon, who lived here in 1794 after his Italian military campaign – and gave the street its name – would be astonished to see how the neighbourhood has been transformed into a place to feast the eyes and then party into the night.

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Prices on Bonaparte street have risen dramatically in the past few years. It is not unusual to see older apartments advertised at €5,000 to €5,500 per sqm or €7,500 per sqm when renovated. New apartments are also selling for €7,500 per sqm. Frédéric Ledeux, whose family have sold real estate in the neighbourhood for 30 years, recently sold a 73-sqm apartment in nearby Philibert street (at no. 12) for €420,000. In Bonaparte street itself, right next to the famous Place du Pin, a Parisian developer is completely rehabilitating a building under the provisions of the Pinel law with the ‘property deficit’ mechanism. The apartments, to be delivered in 2021, are selling for €7,300 per sqm to €8,000 per sqm depending on which direction they face and floor level. A 21-sqm studio on ground level is selling for €170,000 off-plan..

INCREASINGLY ATTRACTIVE
Sales are also taking off in Bavastro street, which is perpendicular to Bonaparte. Here the ambiance is less festive, but just as charming and lively, with a mix of traditional shops and trendy restaurants. Maison Quirino, for example, has been selling its famous Nice ravioli here since 1925, and Chez Pipo, known for the Nice specialty ‘Socca’, has been around for nearly a century. Yet there are also newcomers like the semi-gourmet restaurant Le Chabrol and the nearby Michelin-starred restaurant JAN at no. 12 on Lascaris Street. Many dilapidated apartments on Bavastro street have been renovated and are now selling for €6,500 to €7,500 per sqm. For example, a 41-sqm first-floor apartment with two rooms and a balcony, in a quiet location, sold for €264,000 in 2019.

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Near the end of 2019, Dominique Vincenti at the Domi Nice real estate agency even sold a 28-sqm two-room apartment with a terrace at no. 2 Bavastro street for €220,000. The buyer was an Emirati investor looking for a little place to call his own, proof that the port sector is attracting people from outside Europe. And with the new ‘Port’ tram station, Nice international airport is just 24 minutes away!

Par Laurent Merengone

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