As with every start of the new school year, the Côte d’Azur Housing Observatory, led by the Nice Côte d’Azur Chamber of Commerce, provides data for the first half of 2014 on the entire market, as well as observed trends.
The figures still demonstrate the poor health of the new housing market in the Alpes-Maritimes: while the volume of launches shows a very significant decrease (-31%) compared to the first half of 2013, there is a parallel sharp decline in sales (-22%). With 1140 sales completed, the overall level remains at a historically low level.
A slight positive note, however, is the 3% increase in transactions for free housing <5500€ on one hand, and block sales on the other hand (on a rolling year basis).
The stock is – once again – at a level far lower than needed, down 11% over the considered period.
Despite the circumstances, prices remain relatively stable.
The resale market is slightly down, -3% compared to the first half of 2013. Meanwhile, the price level has remained comparable to the first half of 2013 and remains just slightly below the 4,000 euro mark.
Trends:
The situation is far from improving and the concern among professionals is great for the coming months. While construction professionals welcome the awareness that the government’s newly announced measures illustrate, it is urgent that these measures be followed by actions likely to restore confidence.
Developers face major difficulties in renewing their inventory, and the barriers to home ownership need to be removed as soon as possible, in the interest of our fellow citizens and to prevent an entire profession from being devastated.
