News - Friday, November 25th

Real Estate Prices Rising In Nice

While real estate professionals are seeing a slowdown in the market in most major cities in France, the price per square meter continues to rise in Nice.

From the thousands of transactions recorded during the first six months of the year the average value per square meter was 4,681 euros. That is 1.23% more compared to the previous half-year which itself had already recorded an increase of more than 6% compared to the first half of 2021.

The trend, which is the opposite of that of other French towns, is likely to be due to a shortage of housing on offer in Nice.

 

Major Events Planned For Nice

President Macron has promised Nice some major events over the next few years on the scale of a COP or G20, which is likely to have huge positive repercussions on the local economy.

Christian Estrosi was attending a meeting yesterday where the President was addressing several thousand of France’s mayors.

Among other things, the President spoke about the abolition of the CVAE tax and initiatives to boost the ecological transition.

 

INSEE Population Predictions

According to an INSEE survey published yesterday, the population in our region will peak in 2050 before declining again after that.  Estimates project that the Var would gain 75,000 inhabitants in the next 28 years, but the Alpes-Maritimes only 8,000.

INSEE has also downgraded its growth projections for the French population in 2050, predicting that there would be 69.2 inhabitants in France in 28 years, just 1.6 million more than the start of this year. A previous estimate calculated 5 years ago had estimated that the population would grow to 74 million

INSEE also estimates that in 2050, 30% of inhabitants in France would be aged 65 or over compared to 23% in 2018.

 

French McKinsey investigation widened to cover election campaigns

France’s financial prosecutor has opened an investigation into the role of consultancy groups including McKinsey in the 2017 and 2022 French election races, when Emmanuel Macron was elected and then won a second term

The financial prosecutor’s office confirmed that its current investigation into potential tax fraud by the US-based consultancy giant McKinsey had been widened to include consulting firms’ possible involvement in the two election races. Investigators are looking into allegations of “improperly keeping campaign accounts”, the “undervaluing of the role of consulting firms” and “favouritism”.

 

French Rescue Failure

There's growing evidence that French rescue services failed