Wealthy buyers with a purchase budget in property investment of more than 1.5 million euros are in high spirits.
Whether they are French or foreigners, the rich are increasingly electing to live in France, and more precisely in Paris. The latter plebiscite Emmanuel Macron, so the Hollande years seem far behind. The luxury real estate sector has experienced three explosive years in terms of prices as well as transaction volumes. This does not seem to be coming to an end any time soon, as the fundamentals are excellent.
In June of each year, the morale of wealthy buyers is measured by the barometer of the SeLoger group's Belles Demeures advertising portal. The latest report states that for 59% of these wealthy people, this is the most opportune time to buy a luxury property in France, compared to 46% in 2018. 47% of them feel that Emmanuel Macron's policy has a strong influence on the country's attractiveness, compared to only 36% in 2018.
Published in the first halves of 2018 and 2019, the analysis of sales ads for 82,800 prestige properties announces an average acquisition price of 1.67 million euros, up 10.6%.
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According to the 2018 figures of BNP Paribas International Buyers, a subsidiary of BNP Paribas International Buyers, which finances real estate purchases by non-residents, 9,000 French families, until now expatriates, are competing for the beautiful bourgeois apartments of Paris. They are thus getting closer to the "good schools" where demand is booming. For example, a bilingual school in the 15th district, with an annual primary school budget of around 9,000 euros, has received more than 10,000 applications for sixty places.
According to Nicolas Pettex-Muffat, Managing Director of the Féau agency network, the leader in Parisian top-of-the-range schools: "As soon as the private schools and public high schools that are in demand publish the list of pupils admitted, the telephone never stops ringing. The agencies are asked to find a beautiful 150 square metre apartment with 3 or 4 bedroom and a terrace nearby. If these families are unable to find a property for sale that suits them, they rent while waiting to find it".