It’s not yet the period of fat cows, but things are starting to improve for the real estate market on the French Riviera. After a few lean years, the situation is beginning to turn favorable.
This is, in any case, the cautious sentiment of Frédéric Pelou, president of FNAIM, who is celebrating the organization’s 90th anniversary in 2015: “Finally, buyers are starting to realize that they have no interest in waiting: the housing prices/financing conditions will not improve beyond what is currently available.”
The figures from the second quarter of 2015 support this statement: the recovery is here, even if it remains fragile. The economic situation is improving and is an important psychological support.
Ultimately, we are starting to see the return of foreign clients who had left since the reform of capital gains tax in real estate in 2011.
The improvement in the Nice real estate market is significant: while the sale period still stands at 4 months compared to 3 in 2014, prices are picking up: +2.18% to 4,200 euros per square meter.
Positive signs also for Cannes, which remains the most expensive real estate location in the department: 4,717 euros per square meter. Next are Menton (4,494 euros) and Antibes (4,356 euros).
