In Nice, where demand for property remains strong, more and more buyers are turning to properties in need of renovation. As they are cheaper to buy and offer significant potential for appreciation, they can represent a real opportunity. However, this type of project requires thorough preparation to avoid any unpleasant surprises.


Why are properties in need of renovation so appealing?

In a market where prices remain high, these properties allow buyers to purchase at a more attractive price per square metre. They also offer the chance to create a bespoke home.

For investors, they represent an attractive opportunity to generate capital gains after renovation, particularly in certain sought-after neighbourhoods of Nice.


Costs to plan for carefully

The main area of concern remains the renovation budget. Whether it’s electrical work, plumbing, insulation or a complete refurbishment, costs can quickly mount up.

On top of this, there are sometimes service charge costs and construction timelines that should not be overlooked. An accurate estimate in advance is essential to safeguard your project.


Which neighbourhoods should you prioritise?

Certain areas of Nice offer excellent opportunities, particularly central or up-and-coming neighbourhoods such as the city centre, Libération or Riquier.

There are many older properties in these areas, which offer significant potential following renovation.

Primary residence or investment property?

When buying a primary residence, the aim is to create a comfortable and personalised living environment.

When buying an investment property, the focus is more on optimising costs to maximise profitability or resale value.


Mistakes to avoid

Buying without a detailed quote, underestimating the cost of the work, or overestimating the property’s value after renovation are common mistakes.

Professional support helps to ensure every stage of the project runs smoothly.


An attractive project, provided it is well managed

Buying a property to renovate in Nice can be an excellent opportunity, provided you anticipate the costs and have a clear vision of the project.

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If you would like support with your property project in Nice, the international team at Ashley & Parker is on hand to advise you.
Please don’t hesitate to contact us for a valuation or personalised support – it’s free!

https://ashley-parker.fr/en/appraisal


And catch the Ashley & Parker contributors on the programme 100% IMMO, broadcast on the M6 group’s channels (M6, W9, 6Ter, Téva, Paris Première and available to watch again on M6+).

https://100pour100immo.com/