French luxury real estate: big winner of this pandemic

Despite Covid-19, French prestige real estate isn’t going through crisis. Indeed, prices are stable contrary to the traditional residential market in which the soaring prices generalize. According to a study by Belles Demeures website, prestige real estate is devoted to trust and optimism. 48% of the buyers think that the economic situation in France is going to recover in the six following months. It appears that it’s the ideal time to buy a luxury property in France, as it’s a safe bet regarding investment.

Ile-de-France is the most liked region, even if researches for Parisian region have been slowing for a year. Some areas gain power because buyers want to change their life. Thereby Aquitaine and Britany have tripled their volume of online research. However, there is a gap between offers and requests. Indeed, 67% of the sellers think that it’s the ideal time for buying whereas 59% of the buyers don’t think so. This might increase prices.

Regarding foreign buyers, their return has been noticed. Didier Fagnen, CEO of national operations at Sotheby’s International Realty France explains that “The first quarter of 2021 has been the strongest in 20 years with more than 400 million sold. The second quarter will probably be as promising with similar numbers. Even if French buyers might not be as present after Summer, foreign buyers will take the reins as soon as travelling will be possible again.”

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