Yesterday morning, professionals in the real estate sector met at the Chamber of Commerce and Industry. The occasion was to assess the market conditions for new and resale properties in the first half of 2017 and discuss the future.
The Nice Côte d’Azur Chamber of Commerce, through its Habitat Real Estate Observatory, released its conclusions on the real estate market in the Alpes-Maritimes department.
Its President, Jean-Marie Ebel, confirmed a significant increase in sales at the beginning of 2017. The new housing market shows a sharp improvement (+30% compared to the first half of 2016). It had been 10 years since such an evolution was seen in terms of sales and listings.
The same goes for construction starts and building permits (+14% and +13%). As for prices, they remain broadly stable around 6,300€/m². The resale market is also experiencing a resurgence with a +7% increase in activity over the period and a +6% rise in prices.
The Public Works sector, benefiting from this improvement, has created no less than 1,000 jobs just with the construction of the tramway. “Order books are full until the end of 2019, partly thanks to this project,” notes Philippe Gautier, President of the Building and Public Works Federation of the Alpes-Maritimes.
On the banking side, there is a notable credit production of around 170 billion euros nationwide, representing strong growth.
These positive results should be tempered. The situation over the last three months shows signs of weakness. Adding to this, the forthcoming housing law, which was supposed to be presented this Wednesday, has been postponed by a week. This law is anticipated to lower rents in the social housing sector, better manage public aid, and free up land through more incentive-driven taxation.
