Although luxury real estate sales continue to soar in France, the average price of properties is declining.
Posted on 03/23/2020
Although luxury real estate sales continue to soar in France, the average price of properties is declining.
La vie Immo
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2018 and 2019 were record years for the luxury real estate market in France, so what's on the cards for 2020? Alexander Kraft, CEO of Sotheby’s International Realty France-Monaco, is enthusiastic and announces that "the real estate market is in excellent health in France".
Early 2020 appears to be extremely promising, with a significant number of transactions in the first quarter. Numerous sales agreements have been signed, an excellent sign that could announce a new record year in Paris. In 2019, as in 2018, Paris was the country's most attrcative market. While results in 2019 in the capital were practically identical to those in 2018, they could in fact have been ever better due to a sustained demand had they not been impacted by 2 negative factors: the "yellow vest" protests (which significantly slowed down weekend activity in Paris) and strikes (which affected potential buyers' mobility at the end of the year, and especially those coming from abroad)" Alexander Kraft points out. Without these two factors, 2020 should once again be an excellent year for luxury real estate and in particular for the Sotheby’s International Realty France - Monaco group.
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