Luxury apartment in Paris: the evolution of the market

Paris is amongthe top 5 most popular cities in the world for ultra-rich buyers, which is why the market for luxury apartments is very thriving in the French capital.

Parisian luxury apartments are among the favorite residences of the richest in this world who, as a reminder, often juggle between two or more cities/countries/continents where they own one or more residences.

Obviously, the market for luxury apartments in Paris is by no means reserved for billionaires.

It is a constantly growing market.

Luxury apartment in Paris: very rich buyers are fond of it

Many buyers call on high-end real estate experts to find a luxury apartment in Paris. Indeed, the French capital is one of the most sought-after cities by this category of buyers. Admittedly, this attraction has slightly decreased in recent years, but Paris is indeed part of the top 10 in this area. The capital aligns with New York, London and Hong Kong.

This craze for Paris is relatively recent. Luxury real estate has not always had the wind in its sails. Indeed, before the 2010s, the French capital experienced a relatively weak period in terms of investment. And since 2015, Paris has once again been in high demand. A study conducted by the Barnes network shows that this sector grew by 38% in 2015. The number of transactions in Paris and the Paris region then exceeded 730 and this figure is constantly on the rise.

Apartment of  luxury in Paris: prices are more stable than elsewhere

The market for luxury apartments in Paris is obviously changing with the economic, political and social context both in France and internationally. Thus, the capital experienced a small drop in speed following the attacks of November 2015, but the figures quickly rose. The glamorous side of Paris obviously has something to do with it, but it is not the only asset of the city in the eyes of buyers.

The latter do not fail to compare the different cities in which they can acquire high-end real estate. Thus, it turns out that prices in Paris are more stable compared to the other large cities mentioned above where they are constantly increasing.

Luxury apartment in Paris: the capital attracts Middle Easterners

How can we talk about the evolution of the luxury apartment market in Paris without addressing the question of the main buyers attracted by high-end real estate? In recent years, we have witnessed the influx of Middle Easterners who buy their luxury apartment in Paris as a second home. These are mainly customers from the Arabian Peninsula (Doha, Arabia Saudi Arabia, Qatar, etc.) who rush to Paris.
Given the means of this category of buyers, it is no surprise that we discover the characteristic features of the real estate they are looking for. They have a preference for the 7th, 8th and 16th arrondissements, with a certain enthusiasm for very specific areas such as Avenue Foch, Champ-de-Mars, etc. On average, the luxury apartments in Paris that appeal to this clientele cover at least 200m² including three bedrooms. They also invest in mansions on the capital's prestigious avenues.

The market for luxury apartments in Paris is doing very well. And 2017 is already the year of all successes for high-end real estate.

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