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According to Belles Demeures, the portal of the SeLoger group specialized in the prestige segment, buyers are still coming despite the pandemic.
Despite the pandemic, inflation, the energy crisis and geopolitical turmoil, the luxury real estate market is holding up well. Buyers, looking for a privileged environment, are betting on houses, much more than on apartments, according to a study by Belles Demeures. Ignoring the pitfalls, luxury real estate continues the good momentum it had already started before Covid, and maintains its attractiveness in all corners of the country.
In fact, prices in the luxury segment rose by 1.9% between June 2021 and June 2022, according to the latest barometer of the Belles Demeures portal. Buyers, like sellers, are still confident in the future, with 76% of would-be buyers believing that their project will be completed in the coming year. This rate even reaches 85% among sellers of luxury properties. The notion of a safe haven is more relevant than ever: 79% of sellers and 68% of buyers surveyed by Belles Demeures consider it a safe investment.
In Paris
With the Covid-19 epidemic and the various confinements, Paris has somewhat lost its appeal, including to wealthy clients. Indeed, a number of families have sought to settle in the western suburbs, whether in Saint-Cloud, Ville-d’Avray, Versailles, Saint-Germain-en-Laye or Le Vésinet, particularly in garden homes with space to telecommute, as well as with quality schools for their children nearby.
The result? Between June 2020 and June 2022, prices for high-end homes exploded in the Hauts-de-Seine (+7.6 percent, to 7,885 euros per square meter) and even more so in the Yvelines (+18.6 percent, to 5,896 euros), again according to the study conducted by Belles Demeures.
On the Atlantic Coast
Luxury real estate is not experiencing a crisis either in the Arcachon basin, which has dethroned Biarritz, with prices close to those of the French Riviera.
Thibault de Saint Vincent, president of Barnes (luxury real estate agency) and Jean Anselyn, director of the four agencies in the Arcachon basin, comment on the prices observed recently. “For all villas with a beautiful sea view, prices range from €20,000 to €40,000 per square meter, depending on the condition of the property and the size of the land (…) We have reached up to €60,000 per square meter in Saint-Jean-Cap-Ferrat, up to €50,000 per square meter in Saint-Tropez/Cannes, Courchevel/Megève or even Cap Ferret, and up to €35,000 per square meter in Biarritz/Saint-Jean-de-Luz“.
They note that everywhere, prices have risen sharply in the last two years, by 15% to 30% on average. “The strongest increase in two years is however to be credited to the Arcachon basin, with a rise of nearly 40% in prices in Cap Ferret and Pyla. This is the TGV effect – you can reach the basin in 2 hours and 45 minutes -, coupled with the Covid effect. With the health crisis, most of the second homes have indeed been transformed, for French buyers, into semi-main residences.”
Other top destinations
According to Thibault de Saint Vincent and Jean Anselyn, Le Perche is coming back very fashionable around towns like Mortagne with properties with 1 to 5 hectares of land that are negotiated from 50,0000 to 2 million euros, depending on the surface area, charm, condition of the building as well as the size of the park. It is a historical region located less than 1h30 from Paris, which has aroused some interest after the health crisis.
The Sologne is more than ever the region of choice for wealthy families, especially hunters, and quality properties can be found there from 1 million to 10 million euros for the most beautiful hunting properties. Barnes has made more than 25 sales in Sologne over the last two years, mainly to Parisian clients.
Read also > 250 MILLION EUROS LUXURY REAL ESTATE PROJECT TO BE BUILT IN MARBELLA
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According to Belles Demeures, the portal of the SeLoger group specialized in the prestige segment, buyers are still coming despite the pandemic.
Despite the pandemic, inflation, the energy crisis and geopolitical turmoil, the luxury real estate market is holding up well. Buyers, looking for a privileged environment, are betting on houses, much more than on apartments, according to a study by Belles Demeures. Ignoring the pitfalls, luxury real estate continues the good momentum it had already started before Covid, and maintains its attractiveness in all corners of the country.
In fact, prices in the luxury segment rose by 1.9% between June 2021 and June 2022, according to the latest barometer of the Belles Demeures portal. Buyers, like sellers, are still confident in the future, with 76% of would-be buyers believing that their project will be completed in the coming year. This rate even reaches 85% among sellers of luxury properties. The notion of a safe haven is more relevant than ever: 79% of sellers and 68% of buyers surveyed by Belles Demeures consider it a safe investment.
In Paris
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According to Belles Demeures, the portal of the SeLoger group specialized in the prestige segment, buyers are still coming despite the pandemic.
Despite the pandemic, inflation, the energy crisis and geopolitical turmoil, the luxury real estate market is holding up well. Buyers, looking for a privileged environment, are betting on houses, much more than on apartments, according to a study by Belles Demeures. Ignoring the pitfalls, luxury real estate continues the good momentum it had already started before Covid, and maintains its attractiveness in all corners of the country.
In fact, prices in the luxury segment rose by 1.9% between June 2021 and June 2022, according to the latest barometer of the Belles Demeures portal. Buyers, like sellers, are still confident in the future, with 76% of would-be buyers believing that their project will be completed in the coming year. This rate even reaches 85% among sellers of luxury properties. The notion of a safe haven is more relevant than ever: 79% of sellers and 68% of buyers surveyed by Belles Demeures consider it a safe investment.
In Paris
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