The Nice Côte d’Azur Chamber of Commerce and Industry, through its Observatoire Immobilier d’Habitat (Housing Property Observatory)*, carried out a study of the new and resale housing market in the first half of 2017, evoking the outlook for the coming months.
New housing market:
The sector is continuing its positive momentum.
Supply was up sharply (+ 30% compared with the first half of 2016), with a 15% increase in sales over the period and a 14% increase in property available.
Over a period of 12 consecutive months, sales volumes (4822) and sales (4393) were the highest in more than 10 years.
A significant increase in the number of housing starts (+ 14%) and building permits (+ 13%) were an important indicator.
In this very buoyant context, prices are relatively stable.
While these good results may be the result of low rates and incentives to support the market (PTZ and Pinel), the uncertainty about the future of these mechanisms is likely to lead to a certain wait-and-see attitude on the part of purchasers, accentuated by the fear aroused by the Property Capital Tax for investors.
The resale market is also experiencing an upturn in activity of + 7% over the period. Prices rose by + 6%.
Although the real estate market is doing well overall, prudence is advised for the months to come. The market is still benefitting from particularly low interest rates, but the future housing law is likely to lead to a reversal of the trend.
The increase in activity has shown signs of slowing down over the last three months.
*The “Observatoire Immobilier d’Habitat” of the Nice Côte d’Azur Chamber of Commerce and Industry, brings together all the members of «l’Acte de Bâtir»
– Fédération Nationale de l’Immobilier Côte d’Azur
– Fédération des Promoteurs Immobiliers de la Côte d’Azur et de Corse
– Fédération du Bâtiment et des Travaux Publics des Alpes-Maritimes
– Banque Populaire Méditerranée
– Action Logement Services
– Caisse d’Allocations Familiales des Alpes-Maritimes
– Caisse des Dépôts