Turnkey Properties: The New Face of Prestigious Real Estate in Paris

The year 2023 saw luxury real estate in Paris experience fluctuations, marking a slight decline compared to the previous year. However, within this multifaceted market, a trend is emerging: that of turnkey properties. These real estate gems, renovated from top to bottom and ready to be inhabited, attract both buyers and sellers eager to conclude transactions quickly.

A Growing Demand

Turnkey properties embody the essence of luxury and comfort, offering their new owners the opportunity to move in immediately, without the hassle of renovations or adjustments. This trend, already observed in metropolises such as London or New York, has found a particular resonance in Paris, attracting an increasingly discerning clientele.

The sought-after neighborhoods of Paris, such as the 6th and 7th arrondissements, as well as the famous Triangle d'Or, boast a remarkable concentration of turnkey properties. These traditional addresses for high-end real estate are the privileged stage where these real estate gems unfold, meeting the expectations of the most demanding buyers.

Stringent Criteria

For a property to qualify for the turnkey luxury label, various criteria must be meticulously met. At the top of the list is location, a crucial element that often determines the value and appeal of a property. The coveted neighborhoods of Paris, steeped in history and offering spectacular views of iconic landmarks such as the Eiffel Tower or the Seine, are highly favored. Next, the quality of the renovation plays an essential role. Every aspect of the property, from the foundations to the finishing touches, must be executed with immaculate precision. High-end amenities are a must, including concierge services to cater to the needs of the most demanding residents. The decoration, a true signature of Parisian elegance, must be executed with attention to detail, reflecting refinement and luxury. Additionally, modern and sophisticated equipment is essential to ensure the comfort and convenience of the occupants. In short, a prestigious turnkey property in Paris is not just a mere property; it embodies an exclusive lifestyle where excellence and comfort harmoniously combine to offer an unparalleled residential experience.

Undeniable Added Value

These exceptional real estate properties stand out distinctly in the market, distinguished by their quick sales and the allure they generate in terms of price. Indeed, turnkey properties benefit from a particularly reactive commercial dynamic, often concluding in a remarkably short time frame, sometimes in just a few days. This swiftness in transactions is explained by the intrinsic quality of these properties and their undeniable appeal in the luxury real estate market. Their price, while reflecting their excellence and added value, remains competitive, further stimulating demand. This sustained demand is not limited to the domestic market but also comes from an international clientele seeking residences offering immediate luxury and comfort. These buyers, often demanding, are attracted by the prospect of acquiring a turnkey property that meets their high standards of quality and service. Thus, this dynamic in the luxury real estate market, driven by the speed of transactions and international demand, confirms the persistent appeal of turnkey properties and their privileged position in the contemporary real estate landscape.

The Key to Success: Staging and Home Staging

The key to success in real estate sales often lies in staging and home staging. In an increasingly competitive luxury real estate market in Paris, offering a turnkey property can be a significant asset for sellers. Indeed, through value-enhancing techniques such as home staging, homeowners can showcase their property, attracting the attention of potential buyers and accelerating the sales process. Home staging, which involves showcasing the strengths of a property in its best light, is of paramount importance in the sales process. By removing overly personal elements, decluttering spaces, and rearranging some furniture, this practice allows the property to be enhanced and its appeal maximized. Additionally, some homeowners enlist specialized heritage architects to intervene on listed or registered properties. The use of virtual home staging also proves to be an effective strategy to help clients envision their future property, especially when it is unfurnished. This innovative approach has indeed led to several successful sales. In a market where luxury real estate in Paris is constantly evolving, home staging remains an essential tool for sellers looking to maximize the potential of their property and stand out in a competitive market.

An Evolving Market

Over the years, the demand for turnkey properties has continued to grow, reflecting a change in behavior among buyers eager to quickly settle into ready-to-live-in homes. This evolution is also observed in the high-end rental sector, where turnkey properties are experiencing increasing success. At Sotheby's International Realty, we observe this emerging trend, especially in the most sought-after neighborhoods of Paris, such as the 16th arrondissement, Saint-Germain-des-Prés, and Le Marais. Turnkey properties offered in these prestigious neighborhoods attract an international clientele in search of luxury and immediate comfort.

This growing demand for turnkey properties also reflects geopolitical uncertainties and the fast-paced lifestyle of modern buyers, who prioritize practicality and efficiency in their real estate transactions. Additionally, high-end rentals cater to a similar demand, with tenants seeking properties ready to inhabit, with high-end amenities and quality property management. You can find our high-end rental service.

In conclusion, turnkey properties represent the future of luxury real estate in Paris. Their attractiveness, quick sales, and added value make them coveted investments by both buyers and sellers. In a constantly evolving market, these real estate gems position themselves as essential players, offering accessible and immediate luxury to a discerning clientele.