Foreign wealthy clientele has made a comeback on the Paris market in 2015, Barnes reveals the network in its annual balance sheet. Falling prices and the foreign exchange effect largely explain this improvement.
On the lookout for investment opportunities around the world, the ultra-rich maintain a strong appetite for high-end real estate. They now spend on average 25% of their assets, such assets are seen as the safe haven par excellence. In the arbitration between real estate markets, major cities like New York, London, Paris, Geneva and Hong Kong remain priority. However, the attraction of the French capital has significantly reduced since 2012. Thus, according to UBS Wealth studies and X-firm on the wealthy, Paris, which was the fifth most searched city in 2011, demoted to ninth in 2013 and tenth in 2014.
Changing course in 2015! 'Paris, which is now back up to 7th place in the ranking of the ten most popular cities, says Thibault de Saint Vincent, president of Barnes, benefits from the relative stability of its prices in five years compared to other most popular capitals that they have seen their prices explode. International customers spotted this difference and is interested again in the Paris market since early 2015. 'The attacks have certainly had a negative effect on the market, but their impact has been limited. Barnes network shows an increase of 38% of transactions in 2015 with 738 sales recorded in Paris and the Paris region.
Infatuation with exceptional properties
The recovery in the housing market tricolor prestige, already noted by other real high-end networks, does not only affect the capital but also other places of Franco-French resorts popular with this clientele (St. Tropez, Monaco, Cannes on the French Riviera and ski resorts of Courchevel and Megève ...). It is explained by the sharp correction in prices between 2012 and 2014 and, for foreign buyers, the leverage effect of the fall of the euro against the dollar.
'Foreign buyers are back in force in our market in 2015, being decided quickly, observes Thibault St Vincent. Some take advantage of low rates, rising dollar and a French property market 'given' to the US market, which is reassessed. ' Barnes, the segment of exceptional properties, larger than 4 million, has 'exploded', an increase of 340% (17 transactions in 2015 against 5 in 2014). He seduces a clientele increasingly affluent, with budgets exceeding 10 million. The apartments or houses, less than two million, have also sold well (+ 38% in sales in 2015). However, 'The Family Property High-end' Franco-French 'still suffer in 2015 due to a loss of purchasing power of the French upper class category. '
Surge of Middle Easterners
Foreign investors returned to the capital, are, according to Barnes, mainly American, South American, Middle Eastern, Eastern countries and some sales were made with the Chinese. Key fact, Barnes notes 'for six months, a wave of customers of the Arabian Peninsula, from Dubai, Doha, Qatar and Saudi Arabia. 'She buys a minimum base camp of 200 square meters with three bedrooms, a duplex of 1000-1500 m² on the 8th and 16th (Avenue Foch). Of the 50 sales with this customer in 2015, Barnes cites three examples. That of an owner of 3 mansions in the area of ââAvenue Foch, which acquired two apartments of 300 sqm in the neighborhood for two of his children. Another customer, owner of a beautiful mansion on the Champ de Mars, bought an apartment of 135 m² avenue Emile Deschanel for staff. A third customer preferred, for practical reasons, make payment of the full price and notary fees 10 days before the signing of the sale agreement.
On average transactions within its network in 2015, Barnes was a slight increase in prices in Paris of 3.18%, more marked on goods in excess of one million euros that had been most affected by the decline in 2013/2014. For this year, Thibault de Saint Vincent is said 'somewhat positive. Demand should remain very strong. After Paris, the recovery should gain large provincial cities like Lyon, Bordeaux and Toulouse. The prices are slightly higher, between 5-10%, for superior goods to 2 million euros, stable for the segment 2-4000000 euros and still rising for exceptional properties above 4 millions of euros. '
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Thibault de Saint-Vincent at the 15th Economic Matinale
Thibault de Saint Vincent, President of BARNES will be the guest of the 15th Economic Matinale themed on Heritage & Culture. World leader of luxury real estate, BARNES stands internationally through highlighting the most beautiful cities and regions of France.
During his speech, Mr. de Saint-Vincent.........
24/05/2016 | Barnes International | 1522 vus | 0 com.
Updates on the luxury real estate market in Paris
In Paris, luxury real estate has never been worn as well. With the decline of the Euro, historically low interest rates and reasonable prices compared to other major European cities, the Paris real estate returns to form.
Paris is now the 7th most attractive city in the world for the ultra-rich, ie, those.........
23/05/2016 | Barnes International | 2031 vus | 0 com.
BARNES Marrakech gets a website
BARNES is pleased to present its new website, created for BARNES Marrakech.
Continuing its international expansion, BARNES chose to partner with a local partner with recognized expertise: the agency 'Immobilier International.........
23/05/2016 | Barnes International | 2163 vus | 0 com.
Auction of the house Le Moult, designed by Starck
You are acquiring and looking for an exceptional home in the Hauts-de-Seine?
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Carlos Cruz-Diez exhibition
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BARNES signs an exclusive Franco-Russian partnership with Kalinka
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The luxury real estate is back, where to invest in 2016?
The year 2015 has signed the resumption luxury real estate market, according to Barnes branch network. The return to the reality of prices has triggered the French and foreign buyers, income massively on this premium segment. Now that the resurgence is confirmed, what are the areas on which to bet in 2016? Response elements.......
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Thibault de Saint Vincent or the art to celebrate the luxury
BARNES, through its excellence and its demands, is the reference in high end real estate for an international clientele. Meeting with Thibault de Saint Vincent, Founder and Chairman of Barnes, leading player of international prestige real estate.
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Update on the international high-end real estate - May 2015
1/ The French investment abroad
Exports and French investment abroad continued to strengthen in 2015. The French (young graduates, executives, wealthy families, entrepreneurs and traders ...) are now convinced that their professional future will be brighter abroad that 'France and that their investments there will obviously be more.........