2022 was a particularly active year: the post-Coronavirus upturn combined with a favorable financial environment, notably low interest rates, led to a significant number of transactions.
Over the course of 2023, the Parisian high-end real estate market has been in turmoil. Above 3 million euros, demand for prime rental and trophy asset properties remains strong and dense. Below this level, the market is slowing down, and properties with defects are finding takers at negotiated prices, or are taking longer to market.
Recent transactions have shown that properties with unique locations or singular qualities, such as monument views, preserved historic architectural decor, etc., continue to command high prices. These properties, located on both the Left and Right Banks, attract a foreign clientele often looking for a prestigious pied-à-terre.
These customers form the core of the HNWI (Ultra High Net Worth Individuals), active profiles, often entrepreneurs, with an average age of 65, who find luxury real estate a stable, long-term investment. These profiles, mostly Americans, Chinese and Germans, find Parisian real estate a unique investment opportunity. In fact, Paris ranks fifth among their most sought-after cities. At the same time, Paris and its real estate remain more affordable than Zurich, Singapore, Geneva or New York.