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Perspective
08/07/2020
Activity on the French luxury property market has been stepped up since lockdown, with the exception of the very high-end sector, which is experiencing slightly less demand due to the absence of an international clientèle.
Site traffic at BARNES has also increased significantly, accompanied by a constant stream of house and apartment viewings in the diary, especially in towns on the Atlantic coast, on the coast of Normandy and even on the Côte d'Azur, which have been benefiting from the post-lockdown appetite for second homes.
'The Parisian market is extremely dynamic when it comes to properties worth between 1.5 and 3 million euros. We find it harder to sell larger apartments between 250 and 300 sq.m (2,690 to 3,230 sq ft), which are more expensive and for which demand is significantly lower in our experience', BARNES President Thibaut de Saint Vincent clarifies.
This is, of course, unsurprising, since most of these properties are usually purchased by foreign clients investing in certain neighbourhoods, such as the Rive Gauche, the 8th arrondissement or the Marais.
European clients have been starting to return since mid-June, particularly to the Côte d'Azur, where there has been no decline in the number of transactions. That said, luxury real estate agencies are eagerly awaiting a more comprehensive reopening of the borders.
© Les Echos - published on Barnes International on 08/07/2020
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