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Challenges, February 2nd 2023
Real estate: the high-end market resists economic bad weather By Virginie Grolleau
A villa on the Côte d'Azur, a chalet in the Alps or a private mansion in Paris? Luxury real estate in France recorded an exceptional record last year in terms of sales volumes and prices. “In 2021, the market was driven by wealthy French buyers, recalls Alexander Kraft, CEO of Sotheby's International Realty France and Monaco. The year 2022 will have been marked by the return of foreign buyers, with even larger budgets. Paris, several sales were signed between 10 and 50 million euros and between 5 and 15 million on the Côte d'Azur or in the mountains."
Capped prices, a drop in sales, a decline in demand: this is the current observation in the high-end real estate market, particularly for properties whose value is between 1 and 7 million euros. But in the ultra-luxury segment – where property values are higher...
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Real estate, the new prices for the 2023 school year. This sometimes criticized sales strategy offers a property, often atypical, from a customer file, without advertising. A test that can hold some pleasant surprises.
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Like everywhere, access to property is becoming complicated. But, although transactions are fewer, prices remain high, particularly on the coast. Although the market is no longer as active as in recent years, it remains stable and buyers are present. Check out this...
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