Despite the fall in the number of transactions (minus 21%), the median price per square meter remained almost flat between 2023 and 2024 (+40 euros) in the Alpes-Maritimes. But this relative balance should not obscure the surge in real estate prices observed in recent years. They went from 3,950 euros, the median price per m2 in 2020, to 4,700 euros in 2024. That is to say an increase of almost 19% in the space of four years. An increase which even reached 28.8% over the past decade.
However, the purchasing power of the French and therefore of potential buyers has continued to decline during the same period. Cumulative inflation since 2019, according to INSEE statistics, exceeds 15%. However, the power to purchase is not limited to the reduction in purchasing power when it comes to acquiring real estate. This is combined with some 29% increase in the price per square meter, but also the surge in credit rates.
Interest which increased from 47,433 euros to 117,571 euros
A significant variable for most property candidates who are forced to take out a loan. In fact, the cost of financing increased from 1.5% on average five years ago at 3.5% today.
An increase of two small points that changes everything. In fact, the interest due, excluding insurance, for 300,000 euros of credit over 20 years was 47,433 euros in 2018. Today they are 117,571 euros.
To summarize in broad terms, property candidates are today faced with the following difficult equation: financing with 15% less a property that is worth 19% more while paying 2.5 times more interest than it is worth. four years ago.
The profile of buyers
If prices do not fall on the Côte d'Azur, it would be because of foreign investors. An international clientele ready to buy a place in the sun at a high price. “Fantasy”assures Cyril Messika, president of the real estate observatory and co-president of the FNAIM. Supporting figures. A new study reveals who the buyers of real estate are. And foreigners ultimately represent only 11% of them.
The bulk of transactions are carried out by local customers. 40% of buyers already live in the town where they invest and 27% in the department. Two thirds of those included are therefore signed by Riviera residents. We also note 9% of Ile-de-France residents.
Retirees also represent 19% of buyers, compared to barely 5% of workers, 13% of employees, 24% of intermediate professions and 26% of executives. Today the real barrier to acquisition is age. Two thirds of buyers are over 40 years old and even over 50 years old for 48% of them.
Statistics which demonstrate that the housing crisis primarily affects young workers.
Related News :