Editor's Note: Haute Agent and Sotheby's Luxury Real Estate broker KC Martin speaks on the Paris luxury real estate performance during the first quarter of 2021.
Paris residential real estate shows strength and remains resilient amid Covid-19 pandemic.
Photo Credit: Shutterstock
First quarter Paris residential real estate sales reveal that the luxury market for mansions and apartments has seen a significant increase in the first quarter of 2021, especially for properties over $2.5M €, up overall approximately 74% from recent years’ first quarters, echoing the global boom for luxury properties. This has been achieved despite the absence of many American buyers this year, primarily due to Covid-19 restrictions. French buyers have been the largest buying proportion for this segment followed by buyers from the Middle East. Once Covid-19 restrictions are eased it is anticipated that Americans will return to the “City of Lights” as lucrative luxury buyers thus continuing Paris’ upward buying trend.
Photo Credit: Shutterstock
Luxury buyers are rethinking their priorities to spend more of their financial resources on real estate which provides them and their families with a sense of security, health safety, and privacy in a safeguard all of their own. For the affluent, work, school, socializing and entertainment will all likely share a common home throughout 2021.
Paris properties between $1M € and $2.5M € saw an slight increase in the first quarter 2021 up about 5% from prior recent years’ first quarter sales.
Photo Credit: Shutterstock
Paris has seen its most significant real estate sales growth in the areas of its 6th and 16th arrondissements and in Neuilly-sur-Seine - together with the 16th and 7th arrondissements of Paris, the town of Neuilly-sur-Seine forms the most affluent and prestigious residential area in the whole of France.
Prized properties for Paris buyers are generally those which have been impeccably maintained and/or remodeled and have large terraces, patios, or lush gardens.
Photo Credit: Shutterstock
Consequently, Paris real estate has shown that it remains resilient and extremely strong as buyers look to diversify their portfolios into real estate as a way to increase their quality of life with superlative real property which they can enjoy personally while holding it for financial investment into the future.
Photo Credit: Shutterstock
With affluent buyers making more health-driven lifestyle choices amid the Covid-19 pandemic this buying trend will likely continue in 2021 and further influence the Paris and global luxury real estate markets to continued growth as long as inventory holds out.
For all of your Paris and international real estate needs and for more information, please contact KC Martin, Luxury Broker with Sotheby’s International Realty at 505.690.7192 (press "011" first if outside of the US) or kc.martin@sothebys.realty
KC Martin is the exclusive agent representing the Paris, France real estate market as a member of the Haute Residence Real Estate Network. View all of her courtesy listings here
