felix Posted April 18, 2009 Share Posted April 18, 2009 Across the Alpes Maritimes département, average prices are down by almost 6% This is (unfortunately) nothing compared to almost everywhere else in the world. I am not in a hurry buying, as I will still simply not buy at these prices. For quite some time though I am getting a bit nervous about the slow speed in which prices do seem to drop. Quote Link to comment Share on other sites More sharing options...
whiterabbit Posted April 20, 2009 Share Posted April 20, 2009 This is (unfortunately) nothing compared to almost everywhere else in the world. I am not in a hurry buying, as I will still simply not buy at these prices. For quite some time though I am getting a bit nervous about the slow speed in which prices do seem to drop. I feel the same way and have been surprised the fall hasn't been more. Having said that I think things will accelerate down later this year. There is lots more on the market this month in towns such as Menton. Quote Link to comment Share on other sites More sharing options...
Agentimmo Posted April 20, 2009 Share Posted April 20, 2009 Across the Alpes Maritimes département, average prices are down by almost 6% According to the National Federation of Estate Agents (FNAIM) ...a fluffy piece in the Gruniad from someone who possibly has property down on the coast herself. Quotes from the biggest VI org in France. Mes amis, I've been posting on here for years saying to ignore a lot of what the FNAIM publishes. It's VI trash. Even they admitted in 2008 that they could see the number of EA's half in this recession, so they are trying to "sauver les meubles" as much as possible. Read what the Notaries at Nice had to say at the start of the year : Houses are being SOLD for roughly 20-25% less than the prices asked for by the seller/EA. If you are serious about buying, I'd make a -35-40% offer on a place and see where you can negotiate from there..... And don't be discouraged. If you are patient, you will get a place at an affordable price. As I've said previously, I bought in the mid-90s at a price that was 40% from peak in 1991. I suspect the falls will be the same or more this time around, as this is a bigger bubble. I remember offering a price for a house and being rejected as it was considered 20% below what the seller was asking. 6 months later the seller called me to see if I wanted to buy at the price I had offered. I refused as I'd signed elsewhere for a better place that was slightly cheaper. The FNAIM will spin all the way to the bottom. See how the market goes here once the summer season is over and tourism is hit by 10% less tourists spending 25% less in the local economy Quote Link to comment Share on other sites More sharing options...
Agentimmo Posted April 20, 2009 Share Posted April 20, 2009 I feel the same way and have been surprised the fall hasn't been more. Having said that I think things will accelerate down later this year. There is lots more on the market this month in towns such as Menton. Yep, I agree. This is the traditional "put the house/flat up for sale" period on the cote d'azur. Once the summer ends , prices will drop further. Why ? Well a lot of sellers who work in the "fonction public" (civil service) take up new posts after the school holidays. It's a traditional "change of jobs time". When they are FORCED to move to their new post, their willingness to sell and take a price drop will become apparent. This will help drive down the market............patience...... Quote Link to comment Share on other sites More sharing options...
whiterabbit Posted April 20, 2009 Share Posted April 20, 2009 Yep, I agree. This is the traditional "put the house/flat up for sale" period on the cote d'azur. Once the summer ends , prices will drop further. Why ? Well a lot of sellers who work in the "fonction public" (civil service) take up new posts after the school holidays. It's a traditional "change of jobs time". When they are FORCED to move to their new post, their willingness to sell and take a price drop will become apparent. This will help drive down the market............patience...... Thanks, yes patience is the key right now. BTW are you noticing a decrease in builders rates on renovations and building materials themselves? Over here in the US where I am (Atlanta) materials have gone down but friends who work in renovations as opposed to new builds are doing very well as more people are staying put and imporving their existing houses. Reason I ask is there seems to be way more fixer upper farmhouses etc for sale than a year or so ago. I am talking about a few miles inland in places such as Sospel. A few years ago these were uneconomical to fix up but i wondered if that may also change. Quote Link to comment Share on other sites More sharing options...
non frog Posted February 19, 2010 Share Posted February 19, 2010 The housing market has certainly taken a beating over the last year or so, but now most economies are beginning to recover. Some areas were affected more so than others such as Spain, who are still in decline and look to be for a while. France was affected but not quite so badly and is now beginning to recover. .... ROTFLMAO Are your adverts working matey? You're on the wrong site. Quote Link to comment Share on other sites More sharing options...
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