Luxury real estate: who keeps buying in Paris and what kind of property?

Between 2013 and 2018, more than 54,000 Parisians have chosen to leave the capital city. These departures have been a bargain for luxury real estate which after a period in slow-motion recovered during the third trimester of 2021, particularly in the field of prestige real estate. But this dynamism is at two speeds.

Indeed, on one hand, you can find flawless properties which are sold at a very expensive price, and on the other hand, “classic” properties which take more time to be sold and can be negotiated. “Our Parisian offices have achieved very nice sales, with high budgets, with French people and foreigners. Type of properties and surface areas don’t lack. On the whole, a property displayed at the real price is sold easily” Alexander Kraft, CEO of Sotheby’s International Realty France-Monaco says. Foreign buyers are not lacking. On the sales achieved between January and September 2021, 2.8% were achieved by Chinese, 3% by Italians and 1.7% by Americans. Regarding the kind of properties wanted by the buyers, millenials highly look for small surfaces, but generally, properties with exteriors such as garden or terrace are the most sought-after. An unobstructed view of a monument is a very sought-after criteria by the wealthiest buyers. On the contrary, dark properties without exterior have difficulties to find a buyer…