The hierarchy of FNAIM, the number one network of real estate agencies, held its quarterly press conference yesterday afternoon. The relaxed atmosphere was a valuable indicator of the good morale within the ranks.
Common diagnosis: The real estate market has left behind the dark years and, without claiming victory, is showing much better health.
Of course, we are far from the prosperous years when price increases of 10% could be recorded, but investor confidence has returned, thanks also to very favorable financial market conditions.
Prices remain stable, with a slight increase (+1.43% in Nice), below unity in other areas of the department. Some variations in the turnover time remain between 3 and 4 months, depending on the properties.
Frédéric PELOU, President of FNAIM Côte d’Azur, nevertheless maintains his traditional caution: “The sectors of Menton, Antibes, and Cannes retain their dynamism from the first half of the year, while Nice is slowing down in the volume of operations and turnover time. Indeed, the Nice Côte d’Azur Metropolis is focusing mainly on first-time home purchases as primary residences, and the lack of improvements in economic and employment indicators hinders the purchasing power of the workforce.”
In short: things are going well, but they could be better!
