This article previously appeared in the summer edition 2022 of the magazine Cote & Provence.
Not only are the temperatures reaching unprecedented heights in the South of France, but new construction is also breaking records. However, it is not the sales that score extremely high, but the building construction itself. In Joia Nice Méridia, the newest district of Nice, close to the Allianz football stadium and the newly opened Ikea, the Nice of the 22nd century is being built with a clear vision. Ecological, creative, energy efficient and designed with a free hand for renowned international architects such as the Italian Cino Zucchi and the Japanese Sou Fujimoto. The latter was allowed to develop the Hana building, which means flower in Japanese. With round shapes for the playful balconies, the building looks like a petal from the air. With no fewer than seventeen floors, Hana is an absolute asset to Nice.
Price increase new construction during sale
The sale went uniquely. The sale price of non-ocean view floors was launched first, and as interest in Hana grew, higher floors were released for sale. And every time, the price per square meter rose so that the very top floors were sold without any problems for a fee at the highest level. But then you also live very specially: with tram line 2 in front of the door and the sea on the horizon.
What is also extraordinary is an ambitious new construction project in Èze. Located on the highest road on the mountain, the project developer energetically started sales even before the pandemic. Until the neighbours saw the brochure and the price list and calculated how much profit the project developer was making. Immediately objections were lodged against the construction. This happens on an ongoing basis, by the way. It is a legal game between lawyers in which the neighbours are eventually bought off with an attractive extra sum of money to withdraw the objection. Fortunately, after two years of lawsuits and delays, sales will start again at the end of August.
Outside influence
The situation in the world has little impact on sales in the South of France. I would even venture to say that the more uncertain the economy seems, the faster people withdraw their savings from the bank and invest in Cote d’Azur bricks. France is an ideal country that offers all kinds of tax benefits for new construction buyers. You may be familiar with the 20% VAT refund on the purchase price of a new apartment. But if you come to live here and France is your primary address from now on, there is even more, to be gained.
Suppose you buy a new apartment, and rent it out to your child; then you pay less tax yourself, thanks to the Loi Pinel. It is an intelligent way to tackle housing shortages among first-time buyers. If your children work themselves and it is their first home, the French state also offers help by offering mortgages with 0% interest, the so-called PTZ scheme, le prêt à taux zéro. And so France, and especially the South of France, remains for many people the promised land where the sun shines no less than three hundred days a year. With beautiful restaurants, lots of culture and supermarkets full of fruit and vegetables from the region. Because the French have also understood that well: without their farmers, it is difficult to eat.
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