Yvelines: Unprecedented results for the high-end real estate market
© Exceptional house for sale - Le Vésinet
A more dynamic year in 2020 than expected
With an average of about one sale per week in 2020, BARNES Yvelines managed to have a solid year, despite a near-total halt in the market during the first lockdown last spring. Several reasons explain this resilience: from January to mid-March, demand was sustained by an exceptional end to 2019 and still very low rates. Even though the first lockdown marked a sudden halt in activity, the real estate sector adapted through digital means to face the health situation.
“The market rebounded strongly from May 2020, particularly driven by many Parisians who did not want to risk being stuck again for several weeks without outdoor spaces.,” explains Bénédicte Petitcol, Manager of BARNES Yvelines Nord.
The second lockdown at the end of the year and its travel restrictions led to a new contraction in activity, less severe than that experienced in spring, thanks in part to well-established virtual viewing processes. And whereas December is usually a “slow” month, the offices of BARNES Yvelines received requests and finalized sales continuously until December 31.
For Nicolas Moirignot, Manager of BARNES Yvelines Sud: “The appeal of Yvelines has been steadily increasing for years, just like the prices of its prestigious real estate. However, there will undoubtedly be a before and after the second half of 2020, in the dynamics of the market.”
[...]
What are the prospects for 2021?
Demand is fueled by Parisians and residents of the first crown wanting to settle in cities closer to nature, such as Versailles or Saint-Germain-en-Laye, while many residents of these cities are choosing to move to the western Yvelines to live in a more rural setting. This back-and-forth should sustain the real estate market until 2022.
With demand greatly exceeding supply, the price increases observed since 2018 should continue in 2021, even if it is possible that a plateau may be reached during the year. It is essential that sellers keep in mind that properties without major defects sell within a few days if priced correctly.
According to Nicolas Moirignot: “Versailles, which has all the advantages to attract Parisian clients, starting with its quality of life and the excellence of its schools, will likely be the big winner of 2021.”
A rather unexpected phenomenon is contributing to the scarcity of supply: many older homeowners, who were considering selling their house to move into an apartment once their children had left, are giving up their plans to continue having a living space capable of accommodating their entire family.
“The phenomenon observed in recent months has settled in for the long term. Yvelines is regaining the prominent position it has held since the 17th century.,” concludes Bénédicte Petitcol.
Click link to read the full article :
https://sobarnes.com/realestate/conseils-realestate/les-yvelines-le-nouvel-eldorado-immobilier-des-parisiens/
Comments (0)
No comments, be the first to react to this article!
