26/11/2024
For buyers and tenants
Published in Unique Estates Life Magazine Spring 2024.
Allison Ashby, co-founder and sales director of Junot Fine Properties, is a third-generation real estate broker. This astute lady has called Paris home since 2011. As a leading player in the premier luxury real estate market in France, Junot Fine Properties, a member of the Junot Group and the exclusive partner of Knight Frank in Paris, specializes in the sale of exceptional premium properties in the French capital and beyond. Junot Fine Properties boasts an impressive international sales reach through its trusted partners in 487 offices in over 50 countries worldwide and its membership in the largest international real estate network, Leading Real Estate Companies of the World. The company's official partner for Bulgaria is Unique Estates.
Our clients most often seek their new luxury home in Paris, which features an exceptional view and outdoor space such as a terrace and garden. Another important characteristic is that the property should be renovated and have modern amenities while preserving the aristocratic and authentic Parisian charm.
For a luxury real estate property in Paris, outdoor space and a beautiful view of a landmark or cultural monument typically increase the market price by between 30 and 40 percent per square meter compared to other properties for sale that do not boast these advantages.
Certainly, the most sought-after and expensive luxury properties are located in the most central areas of the capital – the 7th, 8th, and 16th arrondissements.
We are happy to have completed two of the largest luxury real estate transactions in Paris last year – two exceptional private estates in the western part of the city, valued between 50 and 80 million euros.
Yes, we are observing heightened interest in Parisian properties ahead of the games. This trend will be particularly relevant until the beginning of spring, as people who choose properties and sign contracts this spring will take possession of their property just before the opening ceremonies of the Olympics.
There is strong demand, especially from clients from the USA, China, and the Middle East, who wish to buy a second home in Paris as a lifestyle investment.
When purchasing a luxury property, there is a stamp duty of approximately 6% that must be paid to the French government. For individuals with more than 800,000 euros in net assets, an annual wealth tax (IFI) is also due.
As bank interest rates in France begin to decline, we hope for a slight increase in the main market in terms of both volume and number of sales and prices by the end of the year. The luxury segment in Paris remains stable and predictable, and we expect a 3% increase in 2024.
To determine the yield, the location and type of luxury property are of particular importance. The team at Junot Fine Properties is available for a personal consultation based on each individual client's case.
Paris is always a good idea! Our clients are attracted by the culture and lifestyle the city offers – numerous art events, the best museums showcasing art from around the world, the leading haute couture scene, and, not least, the unique gastronomy with many Michelin-starred restaurants.
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