MySweet'Immo, January 25th 2024

Despite a still difficult context and surprisingly, the 2023 figures for luxury real estate remain very good, according to Sotheby's International Realty France-Monaco. Despite difficult economic and geopolitical circumstances, Sotheby’s International Realty France-Monaco still draws a surprisingly positive assessment for the year 2023. The network, however, announces more mixed prospects for 2024. “With a sales volume of almost 1.5 billion euros (more than 1.49 billion euros), we will not reach the historic record of 1.61 billion euros for 2022 but have everything even achieved an excellent year, superior to 2021, the previous record. Despite periods of slowdown during spring-summer and during the last quarter of 2023, our total results for the year remain strong. At the start of 2023, we did not expect to obtain such good results again this year given the current real estate and more general economic situation. They demonstrate that the luxury real estate market remains a safe haven and an alternative investment in difficult times. Proof of the robustness of this market, we concluded several very good sales at the end of 2023-beginning of 2024 above 10 million euros,” Alexander Kraft, Chairman and CEO of Sotheby’s International Realty France-Monaco.