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. Real estate: the health crisis soars the luxury market
Posted on 06/04/2021

Real estate: the health crisis soars the luxury market

LES ECHOS

Share this link
Real estate: the health crisis soars the luxury market
In 2021, the luxury real estate market has never been doing so well. The market already used to be dynamic, but Covid-19 and remote working have increased the sales and buyers have changed their search criteria. They are very exacting and focus on properties with exceptional qualities: high-quality material, nice ceiling height, breathtaking view of the Eiffel Tower… but most of all with an outdoor space. Terrace, balcony, garden… are key elements which allow to provoke a sale. Thus, the buyers rush to the west of Paris. “For the same property, we receive three or four offers with cash payment and without condition precedent”, Sotheby’s International Realty Hauts-de-Seine manager Jean-Charles Engel explains.

Townies’ lifestyle change. Because of remote working, the desire of escaping has increased. The possibility of working from home until 5 days per week drives some people to invest in properties with the comfort of a principal residence. Spaces dedicated to living, practicing hobbies or working are all sheltered under the same roof, compartmentalized and designed for all at any time of the day. A good Internet connection and the proximity of roads, service and shops have to be added. “Investing in a luxury property well located is a relevant strategy in light of the situation and the evolution of the real estate values”, Jean-Charles Engel says. Online searches for unusual properties, houses and even castles have increased. Megève and Courchevel, the west coast from Deauville to Saint-Jean de Luz, are among the most prized place, despite the lack of properties, as owners refuse to give up their estate.

Read the whole article here. 

Paris West Sotheby's International Realty, expert in luxury and prestige real estate in Paris

The latest articles

 The Luxury Real Estate Market in Île-de-France: A Recovery to Be Confirmed
Read more

The Luxury Real Estate Market in Île-de-France: A Recovery to Be Confirmed

After a 2023 marked by cautious waiting, the luxury real estate market in Paris and Hauts-de-Seine seems to be experiencing a recovery in 2024. Like the rest of the Île-de-France region, price fluctuations and interest rates continue to influence buyers and sellers...

Read more
Jane Birkin's Home: A Transformed and Immortalized Legacy
Read more

Jane Birkin's Home: A Transformed and Immortalized Legacy

On July 16, 2023, the passing of Jane Birkin, a Franco-British artistic icon, deeply affected the international cultural scene. The singer and actress, whose charm and sensitivity spanned generations, left behind a legacy not only of art but also of emotion, partly...

Read more
Walt Disney: His House for Sale – A Historic and Prestigious Property in Cape Cod
Read more

Walt Disney: His House for Sale – A Historic and Prestigious Property in Cape Cod

Nestled in the picturesque village of Centerville on Cape Cod’s Massachusetts peninsula, this unique property, listed for $2.2 million (around €1.9 million), embodies both history and prestige. Built in the 1880s, this former water tower, integrated into the...

Read more