“Overall, the year 2011 was a fairly good year in terms of activity, even if it was not as robust as in 2010. Prices did not drop. Real estate remains more than ever a safe haven for those with available cash,” said Pierre Laurent, president of the FNAIM Côte Azur.
“Unfortunately for those who are not in this situation, the position of prospective buyers is more difficult today due to the reduction or disappearance of housing aid, coupled with the modest rise in interest rates.
To conclude: “The only remaining adjustment variable is the price, for which sellers should expect offers about 10% lower than the listed prices in the coming months. The decline should not go beyond this in our department, due to the marked and structural imbalance between the supply and demand of housing.”
