“Of course I care.” David Ghnassia is, with his wife Deborah, at the head of the Terrazzo Immo agency in Nice. If it has a view of the yachts, its popular location on the port of Nice does not prevent it from seeing reality in the face. That, he says, of a blocked market “Since six months”. At least when we talk regarding that of customers already resident in the territory, first-time or second-time buyers. Or 80% of its activity, specifies this professional installed in May 2021 and also adviser in wealth management since 2017.
Fortunately, “it’s a market with two or three gears, of which only the first gear is stuck”. However, Terrazzo Immo is also positioned on a fringe considered to be more buoyant: the premium market. Not quite luxury, but which concerns a more affluent clientele, often foreign and for whom certain sectors of the region are particularly attractive. “It allows us to be less affected and to continue to make deals.” David Ghnassia assene: “ The international clientele is the key to the health of real estate professionals.”
Too little cake
Except, of course, that not all geographical areas are affected. “The outskirts of cities are inevitably suffering.” And then, notes the specialist once more, “the cake of this premium market is reduced”. In other words, it might turn out to be insufficient in the event of additional difficulty. For example, illustrates the Nice boss, “we would not tolerate a new health crisis”.
Either way, developing further seems complicated. Faced with competition from major real estate brands, agencies such as that of David Ghnassia are struggling to recruit. “For those looking for work, the freelancers seem less secure. So they prefer to turn to the networks, even if the market they exploit is seized up.”
Thus, he is crossing his fingers that the market blockage does not last. “Otherwise, there will be breakage!”
