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Real estate: properties over 3 million euros are snapped up in Paris and Ile-de-France

Le Parisien

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Real estate: properties over 3 million euros are snapped up in Paris and Ile-de-France

Health crisis, war in Ukraine… Despite a difficult context, luxury real estate is not experiencing the crisis.

Sales of apartments, houses and private homes are growing at a steady pace in the Ile-de-France region, to the point that 2022 could be even better or at least comparable to 2021. Alexander Kraft, President of Sotheby’s International Realty, said: We’ve never seen activity in the first quarter as strong as this year. After an exceptional 2021, we were thinking of slowing down in January as we usually do every year, but not at all.”

The French have never been so active in the acquisition. Interest rates are still low, and Alexander Kraft notes that «many have moved and upgraded their main residence to have either a better quality of life in Paris, or larger or better localized with special interior fittings like gyms». Outdoor areas such as gardens, garden floors and terraces are also in high demand.

Once again, after two years of absence, foreign buyers are making a comeback. Frontier Europeans such as the Belgians, the Luxembourgers, the Germans and the Swiss, the Scandinavians, investors from Eastern Europe, but also «The Americans who are starting to come back in strength for six weeks», according to Alexander Kraft. He sees it as “the beginning of a wave that could support the market if French demand slows down”. The ultimate sign that the market is doing very well: buyers do not argue and decide very quickly, sometimes within a few hours. Barely back, the goods find takers.

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