24 Feb 2009

New Caledonia property market steady

1:26 pm on 24 February 2009

Figures released in New Caledonia show that the value of property transactions has continued to rise despite a decline in the number of transactions.

The figures are contained in a report by the territory's Les Nouvelles Caledoniennes newspaper which show that the last 12 years have seen a steady increase in sale volume, with last year's sum exceeding seven billion US dollars.

The figures also show that the number of sales peaked in 2004 and has since dropped by about ten percent.

The real estate dealers' head is quoted as saying the New Caldonian market is bearing up well despite increased difficulties in getting loans.

The paper says there has been a recent surge in land prices in the north as the multi-billion dollar Koniambo nickel project gets under way.