Trend one: The premium residential real estate market does not appear to be in crisis. according to Mark AversinkAgency Director at Michaël Zingraf Real Estate, two markets can be distinguished: “The Very high endwhich can be described as ultra-luxury, with prices in excess of 5 million euros, which continue to perform well, and luxury market With prices ranging from 1 to 5 million euros, which is more of a stretch with lower prices of approx 5% But all of this is more or less offset by the return of foreign customers, particularly Americans in the post-covid phase. The difficulty, particularly in Paris and the surrounding area, is the scarcity of the “most demanding” sellers and buyers. Outside Paris, the end of confinement is still taking its toll and residences with outdoor spaces are still particularly appreciated. The market also offers some exceptional properties aimed at ultra-wealthy clients, such as penthouses with swimming pools in the inner suburbs, or prestigious properties such as pink palace In Evelyn for sale at 38 million euros.
After a very dynamic period, the market is narrowing in terms of the number of transactions and risks prompting smaller secondary accommodation agencies to group together around large brands, due to the decline in this number. In the long term, however, the outlook remains optimistic for Paris and the Ile-de-France region. “We are seeing a stabilization and decline in prices which should continue for a few more months, however Rugby World Cup September 2023 then Olympic Games in the middle of the year 2024 It should bring Paris back into the global spotlight, which could revitalize the market.” Marc Oversing of Michel Zengraf Real Estate.
The charm of southern France
On the southern side of France, the legendary landscapes and mild climate continue to attract all the attention and the market remains dynamic.
” there French Riviera It is a very special area with many advantages: a pleasant natural environment, easy access, quality infrastructure, nearby airports located 3 hours away from all European capitals, sea views, beautiful sunshine and strong rental potential. Safe haven investment security continues. Vacation rentals have been great there post covid. In addition, if the files of French clients can be affected by the rise in prices, it seems that foreign clients will be less affected, ”says Alexandra Andres, head of the agency. Cupid It is located in Biot.
A note shared by various actors in the region. “The positive curves of Saint-Tropez and the surrounding municipalities remain high-quality investment options (La Croix-Valmer, Cavaliers-sur-Mer up to Hyères)”, he notes Nicholas GeneonAgency Director Daniel Feo. “In Saint-Tropez, we doubled our turnover in 2023 compared to last year,” he says, noting new trends: “Minds have evolved, and the concept of returning or amortizing property maintenance costs has become a true reflection shared by buyers, whether local or international. This is one of the reasons why we opened a high-quality concierge service, which was not a concern before.”
It also seems that foreign investors are less hesitant before buying. The possibilities of seasonal rentals and the many events such as trade fairs that take place all year round in Cannes or Antibes, for example, reassure them. the Distance working It also dramatically changed the expected uses of a second home, both in the Paris region and in the provinces.
If the prestigious cities like walking sticksAnd Nice – good or Saint Tropez Hide the magical headlines that grab all the attention, the market ticks the time there but is driven by the surrounding towns, which have a good momentum. The number of properties on the market is still limited in the major cities, while other places offer the same quality of landscaping. “Markets with lower prices than Saint-Tropez or Ramatuelle can be markets that are doing very well, and the markets are back in full swing. Stocks of high-quality goods, whatever the price, continue to sell out fairly quickly,” sums up Nicholas Genon, of the Daniel View agency.
Another peculiarity of the second home market: the unpredictable psychological factor of falling in love with a place or dwelling can dominate the purchase decision, “an elusive personal aspect that makes the buyer find a certain soul in the city to spend a good time there. Especially since there are many picturesque small villages such as Mougins, Saint-Paul-de-Vence, Valbonne or Biot and more established destinations such as Saint-Jean-Cap-Ferrat, Cap d’Antibes or Cap-d’Ail “Finding new lovers every year,” Alexandra Andres explains. Lesser-known villages and sectors that allow you to find yourself in fifteen minutes maximum on the beach or in a seaside restaurant are moreover, according to her, increasingly appreciated: “Properties around these areas are now being sold at very high prices, up to several million euros thanks to good infrastructure, accessible roads, well-developed city centers and coastal areas. »
Areas around the most popular destinations that benefit from good logistics (road, bullet train station or airport) can report Area / quality / price Which could be more interesting, with the possibility of buying cheaper items and doing custom work there. Drôme Provençale, Alpes-de-Haute-Provence, or even Uzès (Gard) have characteristics that can reach 15 to 20% Cheaper than known titles. To take advantage of more space, personal or land, as part of a second home, buyers often prefer to drive 10 to 15 minutes longer, ”concludes Nicolas Genon. A market that must therefore continue to reshape itself.
This article was written by: Michael Megres
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