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While some sectors are still suffering from the impact of the Covid-19 pandemic, other sectors such as luxury real estate have held up well, even shining during this period. An all-time favourite that has lifted the sector in these difficult times.
Between confinements, curfews and teleworking, the population has experienced a lot of confinement for over a year. A time for reflection which, for some, has encouraged a desire to change environment, to live these confinements in the open air. Real estate in the countryside is attractive to Parisians and not only to them. “Flats near beautiful avenues, on high floors with exteriors are selling at pre-crisis prices“, underlines Charles-Marie Jottras, president of Daniel Féau Conseil Immobilier. The motivation of clients is to improve their quality of life and to take advantage of real estate as a refuge if they cannot invest elsewhere.
“We have never sold so many beautiful flats as after the crises: the subprimes and now the pandemic,” said Charles-Marie Jottras.
It is for all these reasons that the luxury property market is taking off. In the Daniel Féau network, the amount of sales jumped by 74% between the first quarter of 2020 and the first quarter of 2021, in the segment of properties worth over 2.5 million euros. And it is indeed the French clientele that are the main recipients: “Above 10 million euros, where 2 out of 5 sales were made by the French, today it is more like 3 out of 5. The Americans, who used to form the bulk of the foreign clientele, are no longer there. There are a few visits, but overall, the increase in sales is due to the fact that French buyers have replaced the foreigners,” confirms the president of Daniel Féau.
Is this a phenomenon that is likely to continue with the gradual deconfinement that is taking place?
Read also > LUXURY REAL ESTATE: LONDON, WORLD CAPITAL OF ULTRA-LUXURY PROPERTIES
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While some sectors are still suffering from the impact of the Covid-19 pandemic, other sectors such as luxury real estate have held up well, even shining during this period. An all-time favourite that has lifted the sector in these difficult times.
Between confinements, curfews and teleworking, the population has experienced a lot of confinement for over a year. A time for reflection which, for some, has encouraged a desire to change environment, to live these confinements in the open air. Real estate in the countryside is attractive to Parisians and not only to them. “Flats near beautiful avenues, on high floors with exteriors are selling at pre-crisis prices“, underlines Charles-Marie Jottras, president of Daniel FéauConseil Immobilier. The motivation of clients is to improve their quality of life and to take advantage of real estate as a refuge if they cannot invest elsewhere.
“We have never sold so many beautiful flats as after the crises: the subprimes and now the pandemic,” said Charles-Marie Jottras.
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While some sectors are still suffering from the impact of the Covid-19 pandemic, other sectors such as luxury real estate have held up well, even shining during this period. An all-time favourite that has lifted the sector in these difficult times.
Between confinements, curfews and teleworking, the population has experienced a lot of confinement for over a year. A time for reflection which, for some, has encouraged a desire to change environment, to live these confinements in the open air. Real estate in the countryside is attractive to Parisians and not only to them. “Flats near beautiful avenues, on high floors with exteriors are selling at pre-crisis prices“, underlines Charles-Marie Jottras, president of Daniel FéauConseil Immobilier. The motivation of clients is to improve their quality of life and to take advantage of real estate as a refuge if they cannot invest elsewhere.
“We have never sold so many beautiful flats as after the crises: the subprimes and now the pandemic,” said Charles-Marie Jottras.
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