THE MARKET IS PICKING UP
More sales than a year ago on the Cote d'Azur.After a longstanding slump, the real estate market in the Alpes-Maritimes restored earnings of new buildings increased with a notable 34 percent, along with the market by 54 percent. The resale speed rose by twenty per cent.
The investors are coming back into this Côte d'Azur, at least at the private industry. Here, the"loi pinel" for home subsidies helps substantially thanks to generous tax benefits, and the unchanged low interest rate level.
The supply of social housing, on the other hand, lags far behind demand. Land costs are high and the country is not fulfilling the full size guarantees of the government to cede country property.
Pros also put the growth rates mentioned into perspective in the beginning. They're currently following a particularly bad year in 2014. And construction licenses are showing a small reduction.
Accordingly, the building business is covered. The job is not enough to get a real upswing not for new hires. Public contracts, for example in road building, fell by 30 percent.
Prices remain practically unchanged
And the prices? No changes they increased in resales by two percent in successful sales, a decrease of 5 percent in builds, in addition to a reduction of two per cent.
From the Alpes-Maritimes, you now have to place a normal cost of 5,300 euros per square meter in buildings that are brand new, also 3900 euros for resales. These are division costs, which may vary considerably based on discipline and location , especially based on the sea view that is present or non-existent.
Source: Riviera Zeitung, Jörg Langer
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