News from the market

Luxury Real Estate: the Russian customers are back in Paris

Last year more than half of the sales in the real estate in Paris were conducted with foreign customers.
In 2009, sales to foreigners, for amounts between 1 and 5 million € accounted for more than 50% of the transactions against only 30% in 2008 […]
For goods over 5 million €, the proportion of foreigners amounted to more than 70% in the fashionable districts of Paris (4th, 5th, 6th and 7th districts).

This year, while the Russian market had “deserted the Paris market since the beginning of the crisis “, it” seems to return “. Asian customers are now also present in the capital. The representatives of Chinese customers have even submitted an offer “for the first time.”

Last year, the Parisian luxury real estate has well resisted to the crisis. It has suffered between September 2008 and February 2009, and the market has stabilized from March with the demand that far exceeds the supply. The “shortage of goods is the main characteristic of the beginning of 2010″

Source: www.e24.fr, 18/02/2010

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