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. Luxury real estate: Is the market euphoria really unfazed?

Luxury real estate: Is the market euphoria really unfazed?

LE FIGARO

Share this link
Luxury real estate: Is the market euphoria really unfazed?

It has been several months now that we see writing that luxury real estate is not experiencing the crisis. Sotheby's International Realty France Monaco has indeed recorded an "unexpected historic record year", with 1.61 billion euros in sales, despite a sharp slowdown in the 4th quarter of 2022. Alexander Kraft, the Chairman and Chief Executive Officer, is delighted with these results which "are above what could be expected and show that the luxury real estate market remains a safe haven and an alternative investment in difficult times". Several very good sales have made it possible to reach such a figure, in particular in Paris where Paris Ouest Sotheby's International Realty carried out a transaction at 30 million euros. "We had more than 60 transactions between 5 and 50 million, in a very high range" notes Alexander Kraft. Thanks to the lifting of health measures, foreign buyers are making a comeback: Europeans on the one hand, represented by the Germans, Swiss and Scandinavians, and Americans on the other, who have higher budgets than French and who benefit from the strengthening of the dollar against the euro.

However, the negotiations are starting to get tougher, whether it is a good with defects or not. In addition, some files do not come to fruition due to funding problems and supply is beginning to become scarce in the face of significant demand. “We see a two-speed market emerging on the horizon. On the one hand, the "normal" prestige market dominated by the French, which will slow down due to files blocked by the banks and lower client liquidity, and on the other, the high-end prestige market which is holding up better. current challenges because it is supported by informed investors with significant liquidity and a desire to benefit from alternative investments" explains Alexander Kraft.

The search for calm and greenery that marked the year 2020 following covid and the confinements began to run out of steam in 2021, even more so in 2022. Buyers are once again turning to the social life of large cities such as Paris and its suburbs. This has enabled Paris Ouest Sotheby's International Realty to achieve very good sales in the west of Paris, in the Hauts-de-Seine in Neuilly-sur-Seine, Boulogne-Billancourt or even Saint-Cloud, and in the Yvelines in Versailles and Saint-Germain-en-Laye.

 

Click here to read the article

The latest articles

A large private mansion sold for 30 million euros
Read more

A large private mansion sold for 30 million euros

Paris Ouest Sotheby's International Realty has completed a transaction for 30 million euros. The property in question? A former private mansion located in the 16th arrondissement, once owned by a business manager who organized charity events there. The new buyer? An...

Read more
This Parisian mansion was sold for 30 million to an embassy
Read more

This Parisian mansion was sold for 30 million to an embassy

30 million euros: this is the price at which a former private mansion from the beginning of the 20th century was sold in the OECD district in the 16th arrondissement. This property, which once housed the Benelux Embassy, was bought by a business manager who finally...

Read more
Luxury real estate: Is the market euphoria really unfazed?
Read more

Luxury real estate: Is the market euphoria really unfazed?

It has been several months now that we see writing that luxury real estate is not experiencing the crisis. Sotheby's International Realty France Monaco has indeed recorded an "unexpected historic record year", with 1.61 billion euros in sales, despite a sharp...

Read more