The madness of luxury real estate in France
13/09/2019

Paris is fast becoming the big European capital of luxury real estate. Indeed, Paris is the favorite hunting ground for international customers. Manuela Baron, director of the agency Emile Garcin Immobilier - Paris Rive Gauche, testifies: "the apartments with more than 3 million euros have jumped with the English, American and Asian customers. " She cites the example, in an eighteenth century mansion, of a 250-square-meter apartment, near the Luxembourg Gardens, which sold for 6.2 million euros. The capital has taken advantage of low interest rates and the elimination of the ISF to attract buyers from around the world, the Americans take a look at the Hexagon and see the potential of the Paris market in London or even Manhattan.

For the past two years, the French luxury real estate market has been booming: + 10% in the first half of 2019. This phenomenon can be explained by the combination of two factors: the return of foreign investors after several years of a relative absence, and especially the evolution of the way of life of the richest French. Thanks to the development of teleworking, more and more people are sharing their time between two residences, one in the countryside and the other in Paris or in a large conurbation. 

The French Riviera also benefits from the trend, and for good reason, seaside properties, with a view, are among the most sought after on the market. It is always a privileged place for large fortunes. The properties on the heights of Cannes or Cap d'Antibes with sea view are thus very popular with buyers.

Not to mention the chic resorts of the Northern Alps, they are world famous and sought after by an international clientele. A luxury that has its price but which does not stop to seduce.

The upturn in luxury does not seem to stop.