As we approach the end of 2022, let’s review the Nice rental property market with a study revealing the key figures to know and the changes in rents since the beginning of the health crisis.
Nice, the most expensive city in the provinces
According to an analysis conducted by the real estate site Locservice.fr on supply and demand over the last 12 months, the average rent for accommodation in Nice is €792 including charges for an average area of 36 m², which makes a rent per square meter of €21.85. For comparison, Paris is at €36.43/m², Marseille at €17.23/m², and Lyon at €19.02/m². If we consider the 20 largest cities in France outside the Paris region, Nice is therefore the one where rentals are the most expensive on average.
On a regional scale, however, it is narrowly surpassed by Cannes, which shows €22.91/m².
of the PACA region in December 2022 – source: LocService.fr
The rent per square meter in Nice has increased by +5.5% compared to the average observed at the same time in 2020 (shortly after the beginning of the health crisis), which was €20.71/m². This increase has remained relatively contained, compared to that observed across the province over the same period, which amounts to about +11.5%.
What can be rented in Nice according to our budget?
Of course, this average actually hides significant disparities depending on the types of accommodation. Here is what you can rent in Nice on average according to your budget level:
• Room in a private home: €520/month
Comparison of average rents including charges in the main cities
of the PACA region in December 2022 – source: LocService.fr
• Room in a shared apartment: €540/month
• Studio (single-room apartment): €640/month
• One-bedroom apartment (T2): €848/month
• Two-bedroom apartment (T3): €1182/month
• Three-bedroom apartment (T4): €1476/month
As for the districts, the Carré d’Or is at the top of the most expensive areas in Nice with around €30/m². Then come the Baumettes, Médecin, City Center and Chambrun neighborhoods, which have quite similar prices. Conversely, the neighborhoods of Saint-Roch, Saint-Sylvestre, or Saint-Antoine in particular are among the most affordable.
What are the most sought-after properties?
Future tenants searching for a property in Nice most often target a
single-room apartment (studio/T1): this type of property accounts for 35% of searches in the city. One-bedroom apartments (T2) are also popular with one-third of searches.
39% of people looking for an apartment rental in Nice are students.
67% already live in the PACA region (they do not change regions), and 42% live in Nice itself.
It is noted that while the majority of Nice’s prospective tenants declare having a guarantor among a family member (66%), 8% use the Visale guarantee. Finally, 13% say they have no guarantor. Indeed, it is often difficult to have someone in one’s circle with sufficient income to take on this type of commitment, especially in the particularly expensive city context.
