Luxury real estate: PARIS, capital of luxury

The City of Light keeps its shine, its international prestige and charisma, but with lower prices. While other megacities raise the tone and price increases ... Paris its stock. Foreign customers are the main actors of a recovery well underway for some. Market research and behavior.
The luxury market is a niche market with key criteria: location, building quality, volumes, high floor, terraces, gardens, receptions, views - be it a garden or monument. And the list is not exhaustive! As regards the exception, that is what is outside the norms, which seems unique, much like snow in summer, in other words ... it's pretty rare! 'We can say that there are some exceptional properties sold each year, but in each district, where one or two exceptional properties sold each year, it is the maximum,' explains Martine Kuperfis co- manager with his son Junot estate. It refines his point: 'anything that appears high-end or luxury is expensive, it is a certainty, but it is not necessarily a scarce good. If one ignores the area ratio / price, I would say this is a market that is between 2 & 4 - 5 million euros. '

The heart has its reasons.

These exceptions do not exceptent heart, even if purchases are more reasoned today. The time also varies a lot, 'the market, said luxury goes with the favorite market. After that, it's very random, you can find it in a month or in a year, 'says Emmanuel Poulpiquet to Féau. 'I think of an apartment located avenue Gabriel ... It is a street, not really an avenue, with many embassies and happens to the gardens of the Elysee. In fact, there is only one condominium! In this building, we had to sell the penthouse on the top floor, although we sold in three weeks, after eight visits and three offers. This apartment of 6.5 million, 235 m² is party to 28 000 euros / sqm. 'Martine Kupersis explains,' there can be beautiful apartments in Barbès, but it is not luxury. People who can afford to buy luxury goods, they go elsewhere! '. Conversely, Alexis Caquet the Vaneau agency believes that luxury buyers are now purchasing more reasoned: 'Today, impulse buying, favorite, even for very wealthy people no longer made. It's the precautionary principle prevails. '

International competition.

Indeed, in order: London, New York or Hong Kong are serious opponents. Those investing in such fortunes - millions - are highly selective and more than before: the product must have all (or most) qualities. Should we, however, conclude that the market is healthier than before? Yes and no, because a second type of buyer has arrived on the market, the investor attracted by lower prices wishing to purchase apartments but strongly negotiated prices. The defects are allowed! Clearly, whether French or foreign, Parisian stone always seduced ... Provided that the market price. The micro-markets suffered from the withdrawal of the Russians. But the Swiss and the Americans are back in force. It is also count (no pun intended) on a tax system that can make all the difference in the most beautiful city in the world. Great fortunes are often very mobile and their favorite areas necessarily those that offer the most favorable tax home. The financial aspect can be a boon for many foreigners to pay cash. Martine Kuperfis confirmed: 'At 6, 8, 10 million, it becomes a foreign clientele. Rive gauche, there are many foreigners and also in the 8th, in the Golden Triangle. 'A new business approach today is to open overseas agencies to reach out to buyers. The idea is to develop the high-end market 'at Vaneau, we chose the policy of opening branches abroad, says Alexis Caquet as for the high-end luxury, the clientele is foreign, and we are much more impactful if one is always on site with the idea of ​​service. 'This agency has just made a living in Shanghai and returns are already palpable ...' We created an agency in Hong Kong, says the professional, another in Miami, Brussels and we are negotiating to be physically present at London. '

Tell me where you buy, I'll tell you who you are!

According to the boroughs, these are not the same types of customers, with the same customs or the same crops. In the 17th, the clientele is more conventional, more bourgeois and the building must be of high quality. In the 16th, we will ask for more parking, and a Left Bank apartment with lift. This is luxury, because there are very few. We also looking for an apartment in a first floor in a mansion, overlooking a garden department. In this case, the quality of the building is a less decisive factor, because it is a scarce commodity. At Montmartre, it is a clientele of artists, as with 'many young people in the new economy, explains Martine Kupersis, a new generation of managers. They have 30 or 40 years, buying mansions to 3 or 5 million and dress in jeans. This customer who works a lot, usually living abroad. It requires a quality of life more than a quality built, 'she adds. 'It's a new clientele and ridiculed the prosecution, will explode in a loft with bistro next door. These are not the same as those who inherit for generations. The difference ? They promote the quality of life as they work 24/24. So they want a gym, a cinema room, volumes. 'The mores have changed, lifestyles also:' They put their money in their way of living, leisure, rather than in luxury to speak, 'says our passionate yet.
'There has been an evolution, says Emmanuel Poulpiquet. Formerly the 16th was the quintessence. Today it is the center of Paris, the beginning of the snail. 'This professional considers that there is a specificity Italian in the Marais and Saint-Germain, ditto for the Anglo-Saxons at large who love history. According to him, customers are more French in the 9th or Bastille. The 8th is more reserved for emerging countries, Chinese or Russian. interviewed professionals have quite different opinions. Emmanuel Poulpiquet when asked if the market will resume is surprised: 'resume? But the market does not stop! Féau is doing well. 'For many, beginning in 2015 continuing the pace of late 2014 found beautiful sales volumes, and some even with a bad score, the sale of a week. Paris, tourist destination, remains a very favorable investment over the long term and many are having understood. Especially where the charm is always!

Luxury So British!

Our neighbors across the Channel are experiencing a real estate boom that is undeniable. London is a perfect illustration. Martine Kupersis, the co-manager of the company Junot son worked in England to develop his group explains: 'the difference between France and England? In almost all the properties offered, they are very careful renovation. The property is extremely well maintained. 'Our British neighbors also practice home-staging that makes only modest breakthrough in France. Since the 1970s, this practice is not intended to hide flaws, but plays on space and light to highlight the potential of the well. Indeed, the leopard print to your room may not be to everyone's taste and peacock feathers in the entrance may tickle, especially when we know that in most cases, buyers are decided at first. .. in under a minute. Home staging can be summarized in a few words: declutter, depersonalize clean, store, repair and align. The English also have different methods: each property has plans and comprehensive documents, as Americans who practice almost the exclusive mandate. So To be or not to be ... a little more British? That is the question!

To remember.

Niche market, such as prestige luxury meets a number of criteria including location, buildings, views, architecture, exterior elements but also the volumes, among others. Like the popular districts are often synonymous with a precise typology of buyers. In the crucible of foreign buyers of luxury and prestige, the City of Light has seen the resurgence of Swiss and Americans. Large fortunes are likely to favor the cash payment. The French touchs'exporte more than ever since, conquering the prestigious agencies choose to install a branch abroad to promote the capital cities of the French Riviera and view mansions classified or not ... All more amazing as each other. The prism is now expanding to new cities in the world like Sydney, Dubai, Hong Kong and even in some emerging countries. Luxury and prestige to the French still have a very bright future. Crowing!

© Logic-Immo - published on Barnes Paris on 26/10/2015

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