Buying real estate in Paris: what should we expect from the post-lockdown market?
Real estate: one of the favorite investments of the French
Since the end of lockdown, we can notice a resumption of activity with numerous visits. Real estate is one of the first sectors where there is a dynamic of recovery, in particular the Parisian real estate market, there is no fear of a real estate bubble. This is mainly due to the fact that real estate is the second most preferred investment for French people. Real estate remains a very attractive investment with a certain degree of security. Its value of use is its strength!
Real estate purchases are changing
Desire for greenery, air, an extra room, a balcony: confinement has changed the search criteria for buying an apartment. The two months of lockdown imposed gave future buyers time to mature current projects. They are ready to take action quickly! The French want a terrace, a loft, a quieter location, they are looking for the apartment of their dreams, a pied-a-terre where you feel good. Outdoor space is becoming more important than the interior surface, it has even become an essential criterion, after two months of confinement spent for some without a balcony or garden. Another criterion emerged post-covid: an additional room to accommodate an office following the rise of teleworking. These are all new challenges for apartment hunters since this type of apartment remains rare.
Demand and supply do not change
During the month of April, in full lockdown, the number of real estate ads for sale in Paris was only 200. That's a drop of 89% just one month apart. (source: mysweetimmo). But this decrease is only temporary since in May, there were more than 1600 listings for Parisian housing. Demand is currently falling, but the market is still in favor of sellers. Finally, in the coming months, high-end housing in the west of Paris may develop more and more. This trend may lead to a rebalancing between Paris prices and the inner suburbs.
Towards a stagnation of housing prices
For a foreigner, finding a good real estate deal is very difficult without the help of a Real estate hunter in Paris. Post-lockdown, it is even more difficult for foreign buyers to find the rare pearl. Since lockdown, there has been a slowdown in demand in France, but Paris is still very attractive.
The capital is one of the most popular cities in the world! The prices of exceptional goods should remain relatively stagnant, for other goods the prices should fall slightly.
We will probably have to wait until the start of the school year to have more perspective on the real impact of lockdown. Notaries remain cautious about the attitude of banks and the economic situation. Lifestyles or the way of working change and can have an impact on desires and the types of goods sought. Lockdown has confirmed the importance of being well housed in a quality property.
We can only recommend and advise Parlez-moi de Paris for your real estate searches. We contacted them in September 2024 and our interlocutor, Olivier, was able to understand our request and refine our search criteria. He has shown patience and commitment to our project and thanks to him we have an apartment that we would not have had access to without his network and his knowledge. Thanks to Olivier and to the Parlez-moi de Paris team.
After having had a very disappointing experience with an apartment hunter for a year, given that we live abroad, in February I contacted “Parlez-moi de Paris” and from the first meeting with Susan we were reassured and comforted! And already in June, we signed the bill of sale! She immediately identified our priorities and needs, she has a gift for listening and feeling the other person. Very responsive, always available, calm and very professional, she accompanied us in all the procedures with the notary and even showed us the neighborhood that we did not know at all! A very nice experience!
I had the opportunity to collaborate with Suzan on two common issues and everything went well. She was very involved, available and efficient from start to finish, resulting in a smooth and timely transaction. It is a real pleasure to work with such a serious professional, whom I highly recommend!
