Interview

Parisian market stable

"Immo 33’s only display window is its website and the ads I run in specialised magazines. Five years ago, I began to sell apartments at two to five millions euros, after which I gradually increased the price range. Today, we also sell mansions for fifteen to twenty million euros and more.”

“At the present, demand is greater than supply. But purchasers have high standards and no longer buying anything going at any price.”

“There has never really been a slump at the top of the market. Out of the twenty years I have been working in this sector, I would say that the last five have been the best. Today, luxury is the only market doing well. The intermediate market is stagnating. For exceptional properties, prices are soaring; there is no rule."

"In my opinion, the top-of-the-range and intermediate markets will continue to rise. Some predict there will be a 25% drop between now and 2010, but I don't believe that. We are not in a downward trend; more and more foreigners are buying French property and the population is increasing. A drop in prices has been predicted for the last three years, yet for the last eight years, they have been increasing on an average of 15% per year. That’s enormous! Also, Paris is one of the least expensive of the major cities that are attractive to foreign buyers. I have a number of requests for mansions in the thirty to forty million euro price range that I can't satisfy, because I don't have any to sell!"

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Parisian market stable