"2020 should be a record year for luxury real estate" : Alexander Kraft
Posted on 03/18/2020
"2020 should be a record year for luxury real estate" : Alexander Kraft
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Alexander Kraft, CEO of Sotheby’s International Realty France- Monaco, is looking forward to a great year for luxury real estate in France and Monaco in 2020.
The results for 2019 were excellent, and this should continue in 2020. As he points out, numerous sales last year were put off to 2020 owing to social unrest in France. “Sales were 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). Consequently, a non-negligible number of Parisian sales were put on hold until 2020”. Regional markets have also followed the trend. Alexander Kraft explains. "The French have regained confidence in real estate and today are buying not only to upgrade their main residence or buy second homes, but also to make strategic investments for the future". As a result, we have observed that prices have increased across the real estate market in France, more good news for Sotheby's International Realty France – Monaco.
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