CÔTE D’AZUR REAL ESTATE:              SOFT LANDING The Côte d’Azur Property Market is experiencing a slowdown though it is less afflicted by the crisis than in Spain where unsold stock is estimated to be approaching a million units or in England and Florida where prices are falling appreciably.

Sales volumes have decreased for several months now and industry experts are concerned. Many property agencies are closing, developers are postponing and/or cancelling building projects. Some have had no hesitation in renegotiating land prices which are already under threat. It must be said that the banks and the media have played a part in increasing the sense of panic in the industry.

As with previous economic downturns, it is to be hoped that the current crisis will eventually have salutary consequences. It should rid the market of uninformed property market dabblers whose irresponsible actions disrupt the natural equilibrium of property sales markets and also prick the collective conscience of the large property developer corporations, reminding them that the market must provide properties for which their is a genuine market demand. Speculation and oversupply are not tax-deductible.

However, the situation can be improved
The Côte d’Azur Property Market is exceptionally strong and has considerable professional expertise. Most property agencies are experienced and competent and have proved themselves to be key intermediaries in large property deals. In order to dispel the gloom which has pervaded the market and provide a much needed fillip, property professionals must communicate better with each other and really listen to their clients so that they can provide the best advice. From now on, communication and listening are the keys to recovery in a difficult climate