Even in times of crisis, luxury still resists, particularly for the luxury real estate market in Paris.
Indeed, even if real estate transactions experienced a pause during the confinement period following the Covid-19 in France, prestigious properties continue to interest the wealthy.
Alexander Kraft, President and CEO of Sotheby's International Realty France - Monaco, notes that “we have observed on a national scale that buyers continued to express their interest in real estate even during confinement: in addition to receiving the sheets and videos of the properties that interested them, they asked questions, asked for plans, made an appointment to visit the property from May 11 ”.
In addition, houses with gardens as well as apartments with terraces and balconies are very successful. Paris Ouest Sotheby’s International Realty, the leading luxury brokerage in Paris
and in the west of Paris, has noticed a strong demand for properties located in Hauts-de-Seine and in Yvelines.
Finally, "We think that the prices of prestige goods will mostly stagnate, or even fall, except those of very exceptional goods and without any defect, specifies Alexander Kraft. These goods, considered as a real safe haven and representing an alternative investment, will undoubtedly see their price cap ”.
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