Luxury real estate is remaining a safe investment for the most fortunate

Despite the sanitary crisis, prestige real estate market isn’t in crisis. Indeed, at Sotheby’s Realty, €400 millions of properties have been sold on the 1st quarter and the 2nd is likely to be the same. Despite everything, prices are remaining stable and reach on average €8,900/sq. m. On the other hand, requests for castles and manor houses markets increase and this could provoke price increase.

A little more than 40% of the future buyers search in Ile-de-France and there are still many requests for Parisian luxury properties, despite the lack of foreign buyers. Apartments with an exterior or a view, private mansions, properties in private areas register shorten periods of sales.

Remote working has disrupted the buyers’ way of life who go on the other side of the beltway, in cities as Neuilly-sur-Seine, Versailles, Saint-Cloud. Buyers also move to the coasts, in particular in the Provence-Alpes-Côte d'Azur region, in Brittany and Aquitaine.

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Paris Ouest Sotheby's International Realty, expert in luxury and prestige real estate in Paris