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: “Towards normalization of the prestige market”

Real estate: “Towards normalization of the prestige market”

LE FIGARO IMMOBILIER

Share this link
Real estate: “Towards normalization of the prestige market”

Despite the current context marked by the war in Ukraine, the presidential elections, the high inflation or the rise in borrowing rates, luxury real estate is doing wonderfully, as can be seen form the results of Sotheby's International Realty France-Monaco. Between January and the end of August 2022, the house achieved a sales volume of more than 900 million euros, almost identical to the same period of 2021 which had already broken all records. More than 600 sales have been concluded, at an average price of 1.53 million euros. Last year at this time, the average price was slightly lower, at 1.37 million euros. 2022 therefore promises to be a very strong year, especially since: “200 million euros in transactions in the pipeline (under promise and/or under compromise) should materialize by the end of the year. It is therefore possible that we are approaching our results for 2020 and 2021, which were record years for the sector,” Alexander Kraft, president of Sotheby’s International Realty France-Monaco notes.

And this despite a leveling off in activity, which seems to indicate a normalization of the market and a potential drop in prices. Buyers take more time to finalize their transactions and buyer/seller negotiations become longer. The prices of products without defect but without outer space are stable but at a high level. For those with default, the marketing period is extended and prices are revised downwards.

Regarding buyers, following the end of quarantine, French customers are less present even if their interest in luxury real estate is very real. But this loss is partially compensated by the return of foreign buyers, in particular Americans who are returning in force to the capital. The lifting of health rules allows them to travel without restriction, and the weakness of the euro against a strong dollar considerably increases their purchasing power. Their second home projects abroad put on hold by the Covid can now materialize. Buyers from the Middle East are not to be outdone and remain "always as attracted by the French market, wishing to transform their dollar funds into investment in French stone", Alexander Kraft observes. By geographic sector, Paris proved to be “a very active market. Our eight Parisian agencies worked well. They achieved very good sales, with high budgets. Overall, a property displayed at the right price sells easily,” Alexander Kraft adds.

Click here to read the whole article.

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

The latest articles
Chatou: A new haven of elegance and value just outside Paris
Read more
Chatou: A new haven of elegance and value just outside Paris

A fresh wind blowing through the Yvelines Long viewed as the quiet garden of western Paris, the Yvelines region is experiencing a revival in its property market. While Versailles and Rambouillet have undergone price corrections, it is Chatou that’s now capturing the…

Read more
A secret country house in the heart of Paris: Rare opportunity in villa des Ternes
Read more
A secret country house in the heart of Paris: Rare opportunity in villa des Ternes

Tucked away from prying eyes in the sought-after 17th arrondissement of Paris, a charming townhouse is currently on the market, listed exclusively by Paris Ouest Sotheby’s International Realty, a leading expert in luxury real estate in Paris. Located within the…

Read more
The Golden Triangle: Parisian Luxury at Its Finest
Read more
The Golden Triangle: Parisian Luxury at Its Finest

In the heart of Paris’s 8th arrondissement, bordered by Avenue Montaigne, the Champs-Élysées, and Avenue George V, lies one of the most coveted areas of the French capital: the Golden Triangle. This iconic district—synonymous with luxury, refinement, and French art...

Read more