Despite the pandemic and international tensions, luxury real estate has never done so well.
The pandemic or the war in Ukraine do nothing about it. The French luxury real estate market walks on water. This segment comes out of a record year. Revenue from sales above 3 million euros in France increased by 120% in 2021 compared to 2019, at Daniel Féau, rprestige real estate network. And 2022 is looking very promising. Because the demand is still there. According to initial estimates, the amount of sales made jumped 30% at Sotheby’s in the first quarter compared to the same period of 2021, already record.
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The absence of Russians, big buyers on the Côte d’Azur and in the most popular mountain resorts, should have no impact. Because the situation is not new. This clientele has shrunk over the years, as the geopolitical climate has deteriorated (invasion of Crimea in 2014, tensions with Donald Trump, etc.). “The ruble went down, and Russians found it harder to get money out of the country to buy…
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