Alpes Maritimes: the real estate market stalled

Lower activity continues but prices remain at high levels. Phenomenon

The shores of Nice, Antibes and Cannes-heliotropic they lose their power? For the second consecutive year, the sales volume has decreased in these three cities, which are among the sunniest in France. The reasons for this situation? 'A downturn in the economy, a few tax incentives, households going through a crisis of confidence in the future ... ', recites Pelou Frederick, president of the Alps in the Alpes-Maritimes.

Many will also recall the rent cap measures contained in the new law Alur, as well as the enormous mass of documents required in connection with the sale of a former property condominium. 'Now we must raze an entire forest to lead to a sale!' exclaims, without laughing, Frank Lavernhe, the Orpi agency that bears his name. And professional brandishing a record of over 200 pages: 'My last transaction ...'

>>> Look for real estate prices in your city: apartments and old houses, new apartments, the price of 662 m2 in French localities.

'The curious thing is that the decline in activity has not resulted in a significant reduction in prices' is astonished Caspar Jeanne, deputy delegate to the communication of the chamber of notaries Alpes-Maritimes. In 2013, in Nice, Cannes and Antibes, towns alone totaling 70% of sales in the department, the rates have fallen only 3 to 6%, depending on the types of housing. Explanation: 'The owners prefer to remove their property from sale rather than having the feeling of selling out', responds Benjamin Mondou, Director of four agencies Century 21.

'It's not quite the case for mid-range products, including traditional clientele are local asset' tempers Michael Fusaro, the Nice Properties group. These potential buyers feel a position of strength, he says. Also, discounts on such goods is growing. 'And when the product is offered at the right price, he quickly hand', says that professional. In Nice, in the district of the diocese, a new apartment and was sold in less than four weeks to 3,500 euros per square meter. In the heights of Antibes, the owner of a 3-piece 1980s had no trouble finding a buyer at 3,700 euros per square meter. Even in Cannes, on the heights of the district of Petit-Juas, apartments in good condition are now available at less than 4200 euros per square meter.

The luxury market is marking time

New real estate side, it is not joy. 'In the first quarter 2014, housing starts were down 20% compared to the same period last year' alarm Jean-Marie Ebel, chairman of real estate Observatory habitat Coast 'Azure. 'Sales of goods less than 4,500 euros per square meter ... leave softly' nuance Michel Puy, head of the Federation of property developers (FPI) of the French Riviera. Last source of astonishment -and inquiétude- for professionals: hitherto spared by the gloom, the luxury goods market brand also not. 'The problem is not the price but the erosion of customers, including foreign' says Frédéric Pelou. A figure, to be convinced: the share of foreign clients in real estate the Alpes-Maritimes increased from 18% in 2004 ... to 10% today! Economic difficulties in our Italian neighbors, geopolitical tensions in Russia, unfavorable tax environment for large fortunes ... the reasons for this are many semi-desertion. This does not reassure experts who, for now, merely to round back.

By Kevin Deniau, published on 08/29/2014

© L'Express - published on Barnes Cannes on 25/08/2015

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