YOUR LOCAL REAL ESTATE AGENT IN PARIS
WHETHER BUYING, SELLING OR RENTING
YOUR LOCAL REAL ESTATE AGENT IN PARIS
WHETHER BUYING, SELLING OR RENTING
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The Paris Property Market in 2022

Posted on December 24, 2022 by Susie Hollands

This year, at the higher end of the market above 5M € we have seen increased interest and activity continuing since summer 2020. 

Prices have soared to unimaginable highs with prices per square metre reaching 45,000 euros in this micro market. There has also been a noticeable shift in demand to the Left Bank, but to the 7th arrondissement rather than the 6th.

In one year (from October 1, 2021 to September 30, 2022), 40,860 housing units changed hands in the capital (+9% over one year), according to the Paris Chamber of Notaries. This is 20% more than the average of the last ten years.

Countering this, we are seeing some large price corrections where a property has a flaw – as much as 10-15%. Whereas these may have sold at a high price in the past, we are now witnessing a major adjustment in the pricing of those and more to come in Q1 2023 although interest rates do not impact Parisian sellers and buyers in the same way as in other major cities.

In the last three years many clients have retained us a buyer’s agent. In 2023 we will continue to develop this division of our business in conjunction with our London partner, Property Vision. We act solely on your behalf advising on timing, value and negotiation. As the Paris market is incredibly competitive, some of the most interesting properties will never be advertised. Another challenge is it can be hard to obtain useful comparables.

We also remain completely involved , driving the transaction from negotiation , through the period of due diligence before you reach the point of signing a preliminary agreement and eventually, closing. Many customers take advantage of our advisory services for structuring the deal as well as renovating and furnishing.

We strongly believe in a personalised approach and listening to people’s needs.

LETTINGS

Since setting up the prime portfolio in 2019, the now six-strong VINGT Paris rentals team has handled many of the capital’s most prestigious residences available for rental.

We are excited to now be focusing more energy on this competitive sector of the market. Unprecedented tenant demand and limited stock have resulted in a soaring rental market.

With current market conditions we are being extra vigilant as always, selecting tenants not purely on the highest offer but also on their long-term suitability. In France, landlords are under increased scrutiny to keep their property portfolios in line with ever-changing compliance, regulations and legislation. VINGT Paris can advise and reassess your property for rent.

VINGT Paris tenants can of course expect a high level of discretion and expertise to source a top-drawer property.