Currently, the vast amount of real estate in Nice puts up for sale, but potential buyers fear of overpaying for really overrated housing in France. But calm will not last long, according to Jerôme Ugo, manager of agency Laforêt in Nice.
"It is hard to speak of unjustified prices in general. Some objects are put on sale by adequate prices and they do not stay in the property market for a long time, while there are properties that can be sold at much higher prices," - the expert said.
The amount of time to sell real estate in Nice depends on the quality of the represented property, its price and, of course, the seller's ability to "lower the bar". For example, apartment (40 m2) in the port on the fifth floor without terrace and without any bay’s view has been recently sold for 2 weeks for €124,000, although the initial cost was €135,000.
For comparison, in the area of California you will sell apartments during 1 or 1.5 year, and the apartments, offered for sale for €375,000, have been recently sold for just €335,000.