The partners of the Housing Real Estate Observatory of the Nice Cรดte d’Azur Chamber of Commerce presented the results of the first half of 2014 as well as the prospects regarding the real estate market of the French Riviera Community of Agglomeration and Roya.
Troubling results. The real estate observatory revealed the figures of its real estate activity during the first half of 2014. Figures that confirm the trend of a “gloomy” real estate market according to ORPI, the largest agency network in France.
In the Alpes-Maritimes, the new housing market saw its sales volume record a significant drop of -31% compared to the first half of 2013. Simultaneously, a significant decline in sales of -22% was observed with 1,140 sales made. The level is “historically low,” explains Jean-Marie Ebel, President of the Housing Real Estate Observatory. In a less critical situation, the resale market experienced a slight decrease of -3% compared to the first half of 2013.
In the new housing market sector of the French Riviera Community of Agglomeration, the volume of sales increased compared to the first half of 2013, in a context of high-end mono-production. However, sales decreased by 12%. The resale market also recorded a slight decrease compared to the first half of 2013.
Future prospects are not very reassuring for the real estate market according to the Observatory, which talks about a “particularly strong concern among professionals for the months to come.” According to its president, “the significant barriers to homeownership must be lifted as soon as possible” to avoid threatening citizens’ interests, and to prevent the entire profession from being “devastated.”
Thomas Gucciardi
