The city of love is also the city of desirable real estate.
“Big fortunes were made in the US during the pandemic,” Hugues de La Morandière, an associate director at the real-estate agency Varenne, told Bloomberg. “Those people are now coming to Paris to buy homes.”, which are less touristy than the areas around the Eiffel Tower and other landmarks. Still, some of those popular neighborhoods are attractive to Americans. In the Marais, for example, a third of Barnes’s sales to foreigners were to Americans.
In total, Barnes sold more prime Parisian homes in the first half of this year than in all of 2021, and it expects its 2022 sales to outperform the agency’s record-setting sales last year. A large part of that is due to American buyers, said Richard Tzipine, the agency’s managing director.arrondissement for 27.5 million euros to a buyer who was French but made his money in the US.
The demand for luxury properties is in contrast with the larger housing market in Paris, which saw prices fall 1.4 percent in the three months through July, compared with the same period in 2021. The real-estate market in the City of Love is certainly on a wild ride this year. Mon dieu.
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