With more than 1.555 million deals in France in one year, real estate market is ready to set a new record. It is the same for Ile-de-France and inner Paris. Prices stagnate between 10,600 and 10,800 euros per square meter in the capital city anyway, but the attractiveness of the rates and the easy access to credit allow to purchase a property comfortably.
In these circumstances, luxury real estate keeps being in great shape. “Same as 2020, Paris hasn’t been the most energetic market, but it has well withstood, especially on account of prices which remain stable” Alexander Kraft, CEO of Sotheby’s International Realty France Monaco, says.
New trends arise. Buyers have the same budget, but they are satisfied with more optimized surfaces. Small surfaces segment goes well because it interests foreigners who want to purchase a property for their children who come to France for their studies, Parisians who leave the capital to buy a semi-principal residence, or those who want to invest in rental property. On the other hand, family apartments do not interest as much as they used to.
Regarding demand, it rises again in historical areas, and it skyrockets in the West of Paris, from the 16th to Neuilly-sur-Seine, and Saint-Cloud and Versailles. There is also a real enthusiasm for outdoor spaces, which used to be prized by international buyers and nowadays by everyone because of the quarantines and the remote working they provoked. Other phenomenon increased by the Covid period: the double residence Paris / province. Having two semi-principal residences allows to keep your Parisian apartment to have a property as well in the open air. Thereby, prices have more than triple in region. Finally, “Brexit” effect starts to become apparent as many institutions relocate the whole or part of their headquarters in the capital, bringing about a strong demand from the “Brexiters”.
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