Nice- Is it a good time to invest?

[ady1231]

Hi Guys;

I am looking to buy a studio - onebed flat in Nice. What are the current prices, and is it a good time to invest?

what about Rental yields, and the maximum mortgage i can get?

Please note that i am NOT looking at leaseback properties.

cheers

[CaroleBay]

Hi There

I've seen one bedroomed apartments in the the old town of Nice for sale at 115 000E, and the prices steadily rise according to the quality and location of the property.

I don't know about rental income, that will differ according to whether you rent out on a long term tenancy or whether you opt for holiday lettings.

The maximum mortgage available to you if you are a resident of an EU country is 85% of the purchase price.

If you are a resident on a non EU country, the maximum mortgage available is 80%.

Kind Regards
Carole Bayliss
mortgagefrance.com

[ady1231]

Originally Posted by CaroleBay

Hi There

I've seen one bedroomed apartments in the the old town of Nice for sale at 115 000E, and the prices steadily rise according to the quality and location of the property.

I don't know about rental income, that will differ according to whether you rent out on a long term tenancy or whether you opt for holiday lettings.

The maximum mortgage available to you if you are a resident of an EU country is 85% of the purchase price.

If you are a resident on a non EU country, the maximum mortgage available is 80%.

Kind Regards
Carole Bayliss
mortgagefrance.com

thanks;

115 K E sounds good, is this in the old town? any thoughts about the market at the moment?

Cheers

[CaroleBay]

Yes, most certainly in the old town of Nice.

The market ? Nice (CDA) will always be popular.

Kind Regards
Carole Bayliss
mortgagefrance.com

[ady1231]

well, what is the rental market like, i need a close figures.

Cheers

[camel with three humps]

My REPLY IN BLOCK.

I am looking to buy a studio -

BETTER YEILD THAN ONE BED

one-bed flat in Nice. What are the current prices,

YOU COULD PAY FROM €65K TO ANYTHING, DEPENDING ON THE SITE & THE M2

and is it a good time to invest?

SOUTH OF FRANCE IS ALWAYS GOOD SOME TIMES ITS BETTER THAN OTHER TIMES.

what about Rental yields,
MAXIMISE RENTING TO STUDENTS SPRT TO APRIL AND REST HOLIDAY MAKERS.

and the maximum mortgage i can get?

GETTING A MORTGAGE IN FRANCE IS A PAIN, THE PAPER WORK AND THE ABSURD REQUIREMENT WILL DRIVE YOU INSANE. THEY WORK ON A FORMULA OF % OF LEFT OVER INCOME AND MOST OF UK UNDER PAYE WILL NOT QUALIFY. SELF EMPLOYED ARE NOT LOOKED AT VERY FAVOURABLY.
Please note that i am NOT looking at leaseback properties.

COMPLETION/LEGAL COST IS HIGH, SPECIALLY ON SECOND HAND PROPERTIES. TAX ON RENTAL IS NOT VERY FRIENDLY


cheers

[ady1231]

Originally Posted by camel with three humps

My REPLY IN BLOCK.

I am looking to buy a studio -

BETTER YEILD THAN ONE BED

one-bed flat in Nice. What are the current prices,

YOU COULD PAY FROM €65K TO ANYTHING, DEPENDING ON THE SITE & THE M2

and is it a good time to invest?

SOUTH OF FRANCE IS ALWAYS GOOD SOME TIMES ITS BETTER THAN OTHER TIMES.

what about Rental yields,
MAXIMISE RENTING TO STUDENTS SPRT TO APRIL AND REST HOLIDAY MAKERS.

and the maximum mortgage i can get?

GETTING A MORTGAGE IN FRANCE IS A PAIN, THE PAPER WORK AND THE ABSURD REQUIREMENT WILL DRIVE YOU INSANE. THEY WORK ON A FORMULA OF % OF LEFT OVER INCOME AND MOST OF UK UNDER PAYE WILL NOT QUALIFY. SELF EMPLOYED ARE NOT LOOKED AT VERY FAVOURABLY.
Please note that i am NOT looking at leaseback properties.

COMPLETION/LEGAL COST IS HIGH, SPECIALLY ON SECOND HAND PROPERTIES. TAX ON RENTAL IS NOT VERY FRIENDLY


cheers

well camel, thanks for your reply, although u didnt seem happy answerin my questions!

so, what yield are we talking here 8 , 9 12, 2%. regarding the prices, i am talking in center of old town , surely u cant get anything for 65k!

[CaroleBay]

..... at least the French banks are still lending mortgage finance .....

[ady1231]

Originally Posted by CaroleBay

..... at least the French banks are still lending mortgage finance .....

well ya, i just got my mortgage LTV 85% approved. Still waiting for someone to help me about nice market. are 8% returns reasonable?

Cheers

[camel with three humps]

ady 1231. The plain and simple answer is NO, you cannot get 8% yeild. If you can get a 5% gross yeild you are doing well.