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Posted on 03/06/2020

Luxury real estate holds up well face to the crisis

Les Echos

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Luxury real estate holds up well face to the crisis
While the Covid-19 epidemic has stopped the real estate market across France, Alexander Kraft, CEO of Sotheby’s International Realty France - Monaco returns in a new interview in the newspaper Les Echos, to show us that the luxury real estate market stands firm in the face of the crisis. 

The high-end real estate market was indeed less impacted and remains a safe haven for its customers. Since the start of the containment, virtual devices have been put in place to organize visits, estimates… but this has also made it possible to concretize all the transactions in progress. The market was therefore not really stopped. 

Prestige real estate has been driven by strong momentum since 2017 and, the heath crisis encountered around the world, does not prevent Sotheby’s International Realty customers securely carrying out real restate transactions. 

In addition, with the arrival of the end of the lock-down, certain real estate properties found takers very quickly as Mr Kraft specifies « During these first days of deconfinement, we noted a strong activity on the part of buyers as well as sellers ». 

Find the full article on : https://www.lesechos.fr/patrimoine/immobilier/limmobilier-de-luxe-tient-bon-face-a-la-crise-1199618

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