In the first half of 2016, 22% more new homes were sold than during the same period of the previous year and 18% more were put on the market. This equates to almost 2,000 sales of new builds per week - an amount not seen since 2006. The speed of the process to buy also decreased from 11 months to nine. Prices for the properties in this bracket remained stable: offers were up 3% and sale prices down 2% per m².
Previously lived in properties also experienced a surge in interest and purchase: 17% more were sold between January and June 2016 compared to the first half of 2015. Prices remain virtually identical at -1%, however, despite the increase in buying activity.
The rise in both of these areas has been explained by the Chambre de Commerce et d’Industrie Nice Côte d’Azur as being down to the increase in the number of authorisations for new builds and construction and renovation works. It’s interesting to note that there has been a ‘return to the use of stone in building’ according to Jean-Marie Ebel, the president of the Observatoire Immobilier d’Habitat.
The number of properties classed as second or holiday residences is notably high in the Alpes-Maritimes compared to the rest of France with 24% of homes falling into this category. 68% of properties in the department are primary residences; 8% of homes stand empty.
With regards to the luxury sector, there has been a revival of interest according to agents. Perhaps surprising is the number of people with French nationality purchasing properties in this area.