Nice is worth more than Nantes, Bordeaux, Strasbourg… but less than Marseille

ANALYSIS. Nice is the third city of France in terms of its heritage value, behind Paris and Marseille. According to a costing carried out by the Fnaim and Patrice de Moncan, it would be equivalent to nearly 58 billion euros distributed between homes, offices and shops. Check out the details of this addition to the astronomical.
If Paris is worth more than 700 billion euros, and Marseille reached 82 billion, then how much would, on the same basis of estimation, the capital of the côte d’azur ? The economist Patrice de Moncan and the Fnaim Côte d’azur believe that she would shiver because of the 58 billion euros, after having analysed the 41 districts of Nice and the transactions have been carried out recently. But how do they come to this precise result ?
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A city of recent growth


First of all, by calculating the number of goods : a little more 225.300 accommodation spread over 18.387 buildings and 16.890 individual houses. The collective is home to more 206.000 housing, leading to a high rate of verticality (6,39, compared to 4.1 for Marseille and the 5.53 in the national average). More than half of these properties (56 %) are held in co-ownership, while the remainder is owned by individuals, legal persons, of the city or of religious congregations. And the Nice are majority owners (51 %). The tenants are 10.8% to occupy a habitat with low rent and a 3.4 % to occupy it free of charge. The park building of the capital of the côte d’azur is recent : 25.3% of the buildings are prior to the Second world war, compared to over 30 % in Marseille, 52% to Bordeaux and nearly 70 % in Paris.


Patrice de Moncan then went to the properties of the city of Nice. It teaches that it has 161 school buildings (264.000 m2), 217 sports equipment (80.550 m2) and 53 cultural facilities (135.600 m2), or even 32 places of worship (20.250 m2). In the private domain, it also has 1.428 buildings representing 448.770 m2 of surfaces that have the extended properties to nearly 2,000 buildings and 1 million square meters. With 5.5% of all properties in the city, Nice is located between Nantes (5.9 %) and Bordeaux (2,8 %), far behind Paris (8.9 %) and especially Strasbourg (12.4 per cent).


Very few offices but a lot of shops


Strong of all these data, the economist has then multiplied the number of housing units by the average price of each area considered to result in a value of the residences of 53.3 Bn €. An amount to which it is necessary to add the price of the 958.000 m2 of shops and commercial premises (3.3 Bn €) as well as the price of 360.000 m2 of offices and premises of activity (1 Bn €). The overall value of Nice was € 57.6 Bn €, which is superior to that of Nantes (With 41.5 Bn €), Bordeaux (33,6 Bn €) and Strasbourg (28,3 Bn €).
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And tomorrow ? Patrice de Moncan points out that the 5th largest agglomeration in France, which is a pole of tourism and international congress, “is certainly one of the cities where the projects are among the most important, as much by ambition as by the cost”. It refers to the Eco-valley of the Côte d’azur that may extend over 450 hectares in the valley of the Var and represent 3 million m2, with 2.5 Bn € of investments. And the urban Technopolis Nice Méridia. The transport will be the subject of significant development, with a second tram line on the horizon 2018, and the creation of multimodal exchange hubs to the gare Thiers and the side of the central business district of the Arenas. The central district from the South Station (said the Release), and the other, excentric, Mills, will also see changes.


Finally, the author is amused to consider the valuation of some of the properties of atypical. He imagines, for example, creating a large number of housing units (4.200) on the Castle hill that dominates the port and the old town. What to bring 2,275 Bn € of value in addition to the city ! Transforming also the gardens of Cimiez are€ 127 Million, which will be added to. At this little game, we learn that the reclassification of the Negresco accommodation luxury (sea view) is estimated to 53.4 M€, and the orthodox cathedral Nicolas II, the most beautiful outside of Russia, would be valued 96 M€ (i.e. much more than the cathedral of St. Réparate, located in the heart of the Old town (vieux Nice). But the jewel of the bay of Angels rest… the airport Nice-Côte d’azur and its 3.7 million square metres, feet in the water. A land reserve which would create 75,000 new housing units and add 25 Bn € to the overall estimate of the city, or a bonus of +43 % ! But that would be Nice if it was not connected to the world by air ?…

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