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Recently decorated throughout by internationally renowned Jacques Grange, this apartment in western Paris was once home to fashion icon Inès de la Fressange. It is today marketed by the Belles demeures de France agency priced 3,900,000€. South-facing and enjoying a superb view of Grand Palais and the Élysée Palace, this exceptional 174 sqm apartment opening onto a continuous balcony and including a double living/reception room, three bedrooms and a master suite was once home to internationally...
Lockdown may well have given you itchy feet, and the idea of buying a luxury apartment in Paris has become a constant niggle. It’s time for an update on the state of the market.WHAT MAY BE CONSIDERED A LUXURY APARTMENT IN PARIS?A number of criteria determine whether an apartment is "just" a quality property or whether it may be considered to be in the luxury segment. "On an international scale, upmarket real estate is generally defined as having a value in excess of 1M$" explains Nicolas Pettex-Muffat,...
The absence of wealthy foreign buyers as a result of the Covid-19 pandemic has not led to a drop in the price per square metre. The top end of the market remains a safe haven, real estate agents believe. A beautiful property with a garden located in a private street in the heart of Neuilly-sur-Seine (Hauts-de-Seine) was sold in July in a matter of hours, with four offers submitted at the asking price of 3.3 million euro. Cases such as this are not unique, according to Thibault de Saint Vincent,...
Purchases, visits and sales restarted immediately and with gusto. However questions remain for the months to come.BUSINESS ACTIVITY : BUYERS AND SELLERS ARE PRESENT EN MASSESome may have feared that the controlled lifting of lockdown would lead to a wait-and-see period. This has not happened. Buyers and sellers have resumed their projects, and in greater numbers than before. "The recovery has been strong in all regions" according to Laurent Vimont, chief executive at Century 21 France. “Our June...
"After a forced standby, the market is recovering despite the absence of foreign buyers.The luxury real estate market did not escape the Covid crisis. When lockdown was announced, the shock was brutal and visits, along with offers, dried up. And although a number of projects did not survive the economic downturn, since May 11th a bounce-back has been clearly witnessed in Paris and its desirable nearby western suburbs. Buyers looking for luxury houses and apartments and ready to put over a million...
"After two months during which the market was in shutdown mode, this first “post-lockdown” week and a half has witnessed significant real estate activity in France: visits, offers etc. Is this recovery to be short-lived? Are the first signs of a drop in prices in France showing? And what's happening in Paris? Following the lifting of many of the country's lockdown restrictions, the major real estate networks proclaim load and clear that this first week and a half has been remarkably dynamic....
"Covid-19 has not killed the craving to acquire real estate, at least for clients of the Daniel Féau and Belles demeures de France networks who carried out a survey questioning over 900 potential buyers with a budget of above 500,000€ and who, prior to lockdown, were actively seeking to buy in Paris or in the nearby western suburbs. Over 82% of those questioned confirmed that they intend to pursue their project, and for two-thirds of them almost immediately. Only 10% have put their project...
"A significant drop in prices is highly unlikely in the capital's luxury property market, assures the Daniel Féau group's CEO Charles-Marie Jottras. Charles-Marie Jottras, CEO of the Daniel Féau-Belles Demeures de France group, Parisian leader in luxury real estate with some 110 employees, predicts a relatively serene future for the premium Ile-de-France market. Le Point: How is the epidemic affecting your activity? Charles-Marie Jottras: People are nervous, anxious, it's a bit of a mess. Everyone...
"A significant rebound seems unlikely" "Who is buying today? How are mortgage conditions evolving? To what extent can property prices continue to increase? And finally, is there a risk of a property bubble in France today?" These are questions that experts from the major agency networks, developers and mortgage brokers sought to answer during our round table. In short, their conclusion was that the French passion for real estate remains intact and could even strengthen, due to a fall in profit...
"THE REAL ESTATE MARKET IN THIS "WORLD CITY" IS INCOMPARABLE TO OTHER MARKETS, AND OBEYS ITS OWN RULES. “Everyone has been saying for years that prices and volumes are going up, and I’m a bit embarrassed to labour the point. So today... I'm going to announce a massive real estate crash.” This is how Charles-Marie Jottras, president of the Daniel Féau group, began his annual conference on the market trend. He was, of course, poking fun at the gloom mongers who, over the past two or three years,...
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