picnic

French Property

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6 hours ago, Phillip in Nice said:

As the evening goes on, the busiest place is probably Sass cafe.

One of my favourites too!

Sorry, my question was related to people that live in Monaco and go to Nice for the evening/night. Where in Nice do they go to?

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Coming from Monaco to Nice, it is a bit more spread out. Places open a lot more often in Nice and sometimes it's hard to keep up. Apoteka was always full of people from MC but that closed down. Likely places might be the rooftop terrace of the Hussard, or Merkatos. Probably Coulis later. The young crowd like the grungier bars. In the summer it may be Nice for bars but the clubbing is in Cannes. Baoli is a popular one.

Phillip.

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On 1/21/2017 at 1:07 PM, Phillip in Nice said:

Somebody mentioned Nice so I thought I would give a 2017 update. Disclaimer: I am a real estate agent there so feel free to take that perspective into account. Brexit has not had much of an effect so far. Everybody was braced for potential visa-type restrictions and the pound to plummet, but it turned out to be a bit of a damp squib. I personally do not know a single person that has left because of Brexit, or even put their place up for sale. Most foreign sellers are Italians, because of their poor economy and punishing taxes. British buyers are getting mortgage rates of up to under 1% at the moment here, my last client got 1.1%, so that is still pushing sales.

I am surprised if British purchases are still as buoyant in France or indeed Spain given the current reticence of both Britain and the EU over the position of expats post Brexit!

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I would use the word steady rather than buoyant when it comes to the Cote d'Azur. The British have been buying in Nice for a couple of hundred years, long before the EU existed. Brexit has made surprisingly little difference. In my recent experience, priority goes (a) exchange rate (b) interest rate (c) Brexit, with (c) quite far behind. As I said previously, people are using (b) to hedge against (a). The problem is that AirBnb has been so successful it is now quite hard to find a good pied-a-terre for sale here.

The expat market is less significant than Spain. Few of my clients buy to directly retire here. Most that want to move here are buying with a view to moving in 5-10 years time. In the mean time they will use it for extended holidays, and rent it out during the summer to pay for costs/mortgage.

Most expats here are not too worried, including myself. We know there are 1/4M French living in England, it is unlikely the French would do something mutually destructive. Worst comes to worst, after 5 years you get a French passport. You can hold French and British dual-nationality.

Phillip.

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Brexit has certainly influenced my mindset.  Rather than buy I am now more inclined to rent.  In fact I will be renting in Nice this summer through AirBnb.  I did the same in Spain last year, and Cannes the year before that.

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I would book now. After the attack in Nice last summer, people quickly dropped their prices on AirBnb as much as 20% just in case it had an adverse affect on rentals. In fact, rentals packed out as usual the rest of 2016. As people start to see rentals fill up as usual in 2017 they will start putting their prices back up.

If you are going to a different country every year, then buying a holiday home somewhere does not make much sense. You are better off waiting until you find a place you really love. You can find bargain properties everywhere, but finding that special place abroad that is yours and you can do what you want with is amazing. Don't rush into it until you've at least found the right city.

Phillip.

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