The assessment of the real estate market by FNAIM Côte d’Azur has been released. We present the latest figures for the first quarter of 2019 in the Alpes-Maritimes.
A Stable Assessment
Whether in the areas of Menton, Antibes, Cannes, or Nice, the review conducted by the co-presidents of FNAIM Côte d’Azur, William Siksik and Cyril Messika, talk about stable prices. Furthermore, interest rates remain low and are still the main vector of buyer solvency, even though the fourth quarter of 2018 showed a slight slowdown in activity, indicating a decline in household confidence in real estate. The reasons include concerns about employment and an increase in property tax in 2018.
In terms of rental investment, with a gross return of 4 to 5% on average depending on the city, it remains a safe and attractive investment for savings when compared to the 2.1% return from life insurance or the 0.75% from savings accounts.
The Presidents of FNAIM Côte d’Azur add that “the essential social role played by this private rental market is very dependent on real estate taxation. However, there was a concern that housing could be relegated to the background of the Grand National Debate, raising fears that its taxation could be a budget adjustment variable chosen by the government to calm social unrest.”
The Grand National Debate: Housing Missing in Action
FNAIM Côte d’Azur has drafted 20 proposals within the framework of the Grand National Debate in order to give housing a real place on the national scene. For the Azurian co-presidents, it is about “demonstrating that the sector is not recognized in its rightful place and is an essential vector of stability.” These suggestions are divided into four parts including:
– Reducing inequalities in the general Housing Policy
– Restoring trust between landlords and tenants
– Improving real estate taxation
– Developing the energy transition of housing
Among them, FNAIM proposes standardizing the tenant’s notice period to two months. The goal? To avoid the reduction of supply in high-demand areas due to the current one-month notice period.
It also involves restoring the combination of a personal guarantee and GLI (Unpaid Rent Guarantee), which would improve accessibility to housing for tenants; essentially, it would involve repealing the Boutin Law on housing.
In terms of taxation, private landlords would have a tax status allowing for a relaxation of taxation in the Alpes-Maritimes department.
