The Observatory of Real Estate Housing of the Nice Côte d’Azur Chamber of Commerce presented a report on the real estate market for new properties in the first quarter of 2012.
The assessment shows that the figures are better than the economic conditions had suggested. Year-on-year, there is a 31% increase in property listings, a 17% increase in sales, and the stock of new homes stands at 2,615 units. However, the figures for the first quarter of 2012 indicate a significant decline in supply, down 22% compared to the first quarter of 2011, and a corresponding decrease in transactions, down 5%.
It should also be noted the significant increase in the production of social housing by developers, with these homes being purchased in a future state of completion by social landlords. This increase is the result of new local urban plans (PLUs) that organize social diversity in most new projects. Thus, 1 in 4 homes is sold at the regulated average price of €3,138/m², while homes in the free sector remain just as expensive.
In concluding this review, Jean-Marie Ebel, a member of the Bureau at the Nice Côte d’Azur Chamber of Commerce, representing its President, still specifies: “For the near future, care should be taken not to stifle the free market with too many constraints in favor of financing social diversity, and above all, a mode of effective production will need to be devised for intermediate housing that allows the residents of the Alpes Maritimes, who are excluded from both social and free housing in the coastal area, to access homeownership.”
