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Signs of Recovery for Provence & Cote d'Azur
Figures for the third quarter of 2014 look strong
Although not quite out of the crisis that affected sales in the housing market earlier this year, these newly released figures are promising.
The figures, released by the National Real Estate Federation (FNAIM) on 10th October, show that there was a slight drop in the average price per square metre of property in the third quarter. Antibes falling by 1.74%, Menton by 0.98%, and Cannes by 0.47%. Nice saw a slight increase in the same category but only by 0.03%.
Nice came out on top across the board with good figures including showing the best value for money with the average price per square metre of resold property in Nice at €4,221, Cannes showed the least value for money at €4,678 sqm.
The time period between a property being put up for sale and actually being sold saw Nice again on top at 91 days. Close behind was Antibes at 95 days, but in contrast, Menton and Cannes at 141 and 138 days respectively. Menton, in fact, saw a huge increase from the 49 days it achieved in the third quarter of 2013.
Speaking to Nice Matin, the president of the real estate body said, “There has been no significant decrease in property prices. Demand remains very strong in our department, which has the double benefit of being attractive with only a small number of properties for sale.”
So things are looking good for owners in the Cote d'Azur and Alpes Martimine regions, let's hope this continues to the end of the year and that we see further improvements in 2015.
