Nice to see you, to see you nice

Out of all of the cities in France, Nice has seen the biggest increase in property values in the past year, prompting more foreigners to reconsider France as a viable investment option...

Experts have been shouting about the French market picking up for a while now. Trisha Mason from French property specialist firm VEF said the number of Britons buying French property had dipped during the credit crunch because the fall in UK house prices reduced their main source of funding such a purchase.

Ms Mason said, "However, the signs are that things are slowly improving again. Most Britons who buy in France do so for lifestyle reasons, with the perceived superiority of health and education services being major factors."

The French property market is also said to be entering a period of greater stability after French president Nicholas Sarkozy announced that a £280 billion package was being implemented to bolster the banking system in the country.

The increased market confidence and UK interest rate cut means that it should be easier for UK residents buying French property to borrow from British lenders.

So, if a secure backdrop is there, the next thing to worry about is where to buy. According to Director of francemediterraneanproperty.com Peter-Danton de Rouffignac, Nice is a good bet.

Notaires de France figures show that house prices in Nice have risen by ten per cent and apartment prices by 7.27 per cent over the past year.

Nice's increases (sorry, couldn't resist) are superior even to those in Paris- the city of light saw a 9.7 per cent rise over the last 12 months. Other city centres across France saw prices rises of around five per cent.

The ‘capital of the French Riviera', Nice is an affluent city and a great place from which to explore the rest of the Côte d'Azur and nearby Monaco. You could even take one of the frequent ferries across to Corsica.

The best value properties in Nice are to be found north of the railway station. Brand new homes are much in demand and there is a lot of land in the west of the town awaiting development.

Nice also has an exceptionally strong rental market, with a particularly strong demand in the summer. Long-term letting is a popular option during the winter months, with students, expatriates and locals as the main tenants. Average rents in Nice are the second highest in France, after the greater Paris region.

Mr de Rouffignac said, Contrary to what some people think, now is still a good time to buy French property."

Picture by pascal