Preferences Preferences To safeguard0
Contact us
Paris Ouest (Paris 16ème - Victor Hugo)
Sotheby's International Realty
Paris Ouest (Paris 16ème - Auteuil)
Sotheby's International Realty
Paris Ouest (Paris 17ème - Etoile Monceau)
Sotheby's International Realty
Paris Ouest (Neuilly-sur-Seine)
Sotheby's International Realty
Paris Ouest (Hauts-de-Seine - Yvelines)
Sotheby's International Realty
Paris Marais
Sotheby's International Realty
Paris Est
Sotheby's International Realty
Send an email

Preferences

Currency

My research
  1. Home
  2. >
  3. All news
  4. >
  5. Press
  6. >
  7. COVID-19: Luxury Real Estate doesn't know the crisis
Posted on 10/14/2020

COVID-19: Luxury Real Estate doesn't know the crisis

ACECREDIT

Share this link
COVID-19: Luxury Real Estate doesn't know the crisis
According to Alexander Kraft, CEO of Sotheby's International Realty, the wealthiest have no difficulty in accessing real estate credit, which maintains sales of prestige properties.


A branch of the real estate industry facing the crisis

Between 2019 and 2020, Sotheby's International Realty's results were almost equivalent, in fact, in 2019, the balance sheet was 449 million euros, while in 2020, the company earned 435 million euros. The decline is so small that it makes the results exceptional. In total, no less than 157 sales of approximately 1.55 million euros were made. In general, according to the Observatory of Housing Credit, the credit has a monthly payment of one million euros over 20 years with a fixed rate of 0.91% for the best files and the buyers participate in a significant part of the price of the property.


Current trends

Alexander Kraft notes a change in the desires of the French. The main residence should be a more pleasant and open place to live, especially by favouring balconies or gardens. Also, they are looking for a second home in order to offer themselves a haven of peace with family or friends. All of these criteria converge towards a final desire, to have a better quality of life.


Popular geographical areas

We are seeing an increase in sales in seaside areas such as the Côte d'Azur, luxury mountain resorts such as Megève, or rural areas such as Normandy. According to the Observatory for Housing Credit, credit rates are stable, averaging about 1.24% in August.

Find the full article here

Paris Ouest Sotheby's International Realty, your reference in luxury real estate in Paris

The latest articles
A dive into french elegance in California: An exceptional Rococo-Inspired mansion evoking Versailles
Read more
A dive into french elegance in California: An exceptional Rococo-Inspired mansion evoking Versailles

In Topanga, California, an extraordinary residence evokes the grandeur of 18th-century France, reminiscent of the opulent salons of the Château de Versailles. Designed as an authentic replica of the Rococo style, this 744m² home on Bellini Drive embodies refined...

Read more
1930s Art deco real estate in Paris: Investing in timeless elegance
Read more
1930s Art deco real estate in Paris: Investing in timeless elegance

As the 1930s began, a new wave of architectural inspiration swept through Paris. Beyond the iconic Haussmannian stone buildings, innovative constructions with sleek lines and modern materials emerged, adding fresh beauty to the city’s skyline. These interwar-era...

Read more
On the Picturesque Connecticut Coastline, Donald Trump and Ivana Trump's Former Residence Sells for 31.5 Million Dollars
Read more
On the Picturesque Connecticut Coastline, Donald Trump and Ivana Trump's Former Residence Sells for 31.5 Million Dollars

Recently sold for $31.5 million by Sotheby’s International Realty, this majestic mansion stands as one of the most notable real estate transactions of the year. This stately property, rich in timeless luxury and elegance, showcases Sotheby’s International Realty’s...

Read more