Gathered at a conference organized by the Chamber of Commerce and Industry (CCI) of Nice, the major players in real estate delivered speeches on the analysis of the Riviera real estate market and shared their perspectives for the coming months. One thing is certain: the sector is going through a difficult period and calls for unity to invent sustainable solutions.
It was Jean-Pierre Savarino, president of the CCI, who opened the session by mentioning the necessity of finding innovative solutions to house workers, in a context of persistent crisis. For two years, the real estate market has been facing a “poly-crisis”, combining economic slowdown, rising rates, and land tensions. These difficulties, according to the speakers, are likely to persist for several months, if not years.
Alarming figures, but a willingness to act
The president of the Real Estate Observatory, Cyril Missika, presented the latest market data for the first quarter of 2025. Over a year, the existing home market fell by –3% for old apartments and by –4.8% for old houses. While prices seem to be stabilizing, they remain at a high level, with a median price of €4,750 per m², up 1.4% over the period. This situation makes access to housing increasingly difficult for workers, especially first-time buyers, who struggle to meet the conditions for a loan despite the recent decrease in interest rates.
Properties like T3 and T4 are becoming particularly difficult to find, as prices have increased significantly. On the other hand, activity remains dynamic for second homes, retirees, the international clientele, and executives with substantial personal funds.
Not a systemic crisis anymore, but still some blockages
According to the participants, the industry is no longer experiencing a systemic crisis, as in the last two years, but significant difficulties remain, especially in social housing and access to housing for workers. The objective is clear: maintain the attractiveness of the region and find solutions together.
Substantial financial efforts have been made. In 2024, 20 million euros were invested in social housing. This amount has been increased to one billion euros, with 15 billion dedicated to housing production on a national level, and five billion to supporting “intermediate” housing. For the Alpes-Maritimes alone, one billion euros have been mobilized over the past five years to support social housing.
This may seem like a lot. But social housing represents only 12% of the housing stock on the Côte d’Azur, a very insufficient rate to meet demand.
A message of unity and commitment
In this uncertain climate, the representatives stressed the importance of working together. “The federation of actors is more than ever a strength“, said Jean-Pierre Savarino, praising the mobilization of all professional families. Among the notable commitments, Pierre Ippolito, the president of the Union of Businesses 06 (UPE 06), highlighted his commitment to housing, particularly in connection with the tax and housing policies deployed in 2024.
Concrete proposals have been made, both at the local and national level, to address current challenges and anticipate future needs, in a spirit of general interest.
