Luxury Residential Area Properties A Market Study

Bonapart presents its market study on current developments in luxury residential area real estate. The study covered sales of apartments and homes in the exclusive residential areas of Paris (1e, 2e, 3e, 4e, 5e, 6e, 7e, 8e, 16e and 17e south) and its western suburbs (Neuilly, Boulogne, St Cloud).

To receive details of this report, contact Director Susie Hollands.

98.5 % of the 2 to 4 M€ transactions, and the almost all of > 4 M€ transactions in Paris and in Hauts-de-Seine were carried out in these residential areas.

There has been no drop in the number of transactions – or in prices – in the afore-mentioned luxury residential areas, contrary to the trend observed in the provinces and the greater Paris metropolitan region.

Comments

[simon Cotter]

I have noticed a drop in the top end of market here in Sydney. By as much as 25%.

However, The 'centre" market in each area seems to be just as strong with prices steady. The simple fact is people need a place to live. Also I have noticed a few "crisis" auctions beginning to appear as those who have speculated, or depend on the stock market for income feel the pressure.

Its the same in the car auctions- new or luxury cars dropping in value by as much as 35% in the first 12 months, but the mid price range steady and solid- people still need cars and bikes to get around!

[simon]

PS- forgot to say- My auction bookings for properties have not dropped at all, and the conversion rate is the same. about 65%

HOwever the agents are pre auction selling and the sales lack "enthusiasm" from bidders. Can be more like public negotiation than an exciting "event" :o)

[susie hollands]

Right now, we have a very strong rental activity with Bonapart and still those clients who are looking to buy a property, have some personal usage, then rent when they are not here in Paris are happily going ahead with plans to buy. At the top end of the market (1.5 million+ euros there seems to be no slackening), lot's of people are "wait and seeing" properties are not seling as fast as usual.