France Luxury Residential Real Estate Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 4.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
France Luxury Residential Real Estate Market Analysis
France's luxury residential real estate market is expected to register a CAGR of more than 4.5% during the forecast period.
The fact that some parts of France are known around the world has also helped the luxury real estate market.Paris, the French Riviera, Provence, and the West Coast are examples of places that fit this description. These places are well-known due to their exceptional historical, architectural, cultural, and natural legacies. These advantages make the nation a secure location for real estate investments, and they also make it possible for a huge number of prospective buyers to be enchanted by the numerous beautiful locations and first-rate amenities on offer.
Furthermore, the French Riviera is one of the world's most expensive real estate markets, located in France. This market enjoys both an exclusive standard of living and a wealth of high-end cultural and recreational attractions. Most of the demand for luxury homes in this location is supported by ultra-high net-worth individuals (UHNWI), European aristocrats, and international high society. Even during the pandemic crisis, the French Riviera market remained resilient, with high demand and stable price development in the luxury segment.
Real estate investment by foreigners in Paris has resumed. especially given that the dollar now outperforms the euro in terms of exchange rates. For instance, the Barnes network is now selling 33% of the homes in the Marais neighborhood to international buyers. Up to 30% of customers in the 8th arrondissement are from outside of France, compared to 25% in the 7th and 20% in eastern Paris.
France Luxury Residential Real Estate Market Trends
Metropolitan France Experiencing Significant Gowth
The French market is witnessing significant growth as citizens searching for second homes sustain the luxury real estate market. In addition, French buyers dominated the market, as the pandemic restrictions suppressed overseas demand for the market. In 2021, there were 67.4 million people living in France, with 65.2 million of them living in Metropolitan France (the European portion of France plus Corsica) and around 2.2 million living in its overseas territories (French Guiana, Guadeloupe, Martinique, Mayotte, and Reunion). New Caledonia and French Polynesia are two other large dependencies.
Furthermore, the average price for prime real estate in France saw a growth rate of 1.3% in 2020, and the number of sales increased by 5% in the six months ending in February 2021. The French government has deployed EUR 604 billion in additional spending and liquidity support, which has boosted consumer confidence. Meanwhile, mortgage rates are at 1.11%, a historic 50-year low according to the Bank of France, which helped homeowners looking to relocate or purchase a second home during the pandemic find it a relatively affordable option.
However, the France metropolitan area saw growth in sales of detached houses; in Q2 2021, the reservations for single detached homes experienced a significant growth rate of more than 18.9% compared to the same quarter in 2020. Despite the pandemic disruption caused in the housing market, detached home sales are on the rise in 2021 compared to 2020. In addition, the outstanding units reserved for sale in Q1 2021 accounted for more than 30,497 units, with a growth rate of 10.44% compared to the previous quarter.
Detached Home Sales are Witnessing Lucrative Growth
Despite the pandemic crisis, the market recovered significantly in the country. There are three motivations driving the luxury real estate market in the country: one is that French people are upgrading their existing residences (such as upgrading outdoor spaces, expanding rooms, or shifting locations); a second motivation is that the new interest in second homes is currently driving the luxury residence market in the country; and the final motivation is a change in lifestyle, as some people are settling in the outskirts of the city and enjoying a better quality of life by utilizing modern technologies.
Furthermore, the luxury residential market in Paris is witnessing a rise in property prices. By the end of 2022, high-end luxury properties in Paris are expected to surpass London in terms of property prices. In 2021, the French capital recorded the highest average price of EUR 10,000 per square meter. Whereas high-end property expert Barnes ranked Paris as one of the five most expensive cities in the world for luxury real estate.Even Brexit has contributed to the growth of the luxury home sector in Paris.
Meanwhile, the rebound in detached home sales accounted for a growth rate of more than 48% between Q1 2021 and Q2 2021. In addition, the demand is growing, as 75% of people in France have a dream of living in a detached house with a garden, as per the survey conducted by France's housing ministry. In Q1 2021, the average selling price of detached houses in different regions was as follows: Zone A + Bis with EUR 403,390 per batch, Zone B1 with EUR 314,883 per batch, and Zone B2 + C with EUR 267,330 per batch.
France Luxury Residential Real Estate Industry Overview
The luxury residential real estate market in France is fragmented, with local and global players existing in the market. Key players in the market are leveraging partnerships, acquisitions, and mergers to capture market share. Some of the major players in the market include Sotheby's International Realty Affiliates LLC, John Taylor, Daniel Feau, Proprietes Le Figaro, and Haussmann Real Estate.
France Luxury Residential Real Estate Market Leaders
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Sotheby's International Realty Affiliates LLC
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John Taylor
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Daniel Feau
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Propriétés Le Figaro
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HAUSSMANNREALESTATE
*Disclaimer: Major Players sorted in no particular order
France Luxury Residential Real Estate Market News
March 2023: onefinestay, the world's leading luxury private rental brand, is delighted to launch its latest collection of stunning homes in the beautiful region of Provence, France. The collection offers a striking range of villas, all fully furnished, to the brand's impeccable level of luxury. The introduction to onefinestay adds a further destination to the brand's ever-expanding array of homes in France, already including Paris, Cannes, St Tropez, as well as other sought-after destinations in southern Europe including Italy, Spain and Greece.
March 2023: HomeExchange, a home-swapping company with more than 100,000 members in more than 130 countries, has acquired My weekend for you, a French network of homeowners who welcome travelers over weekends.
France Luxury Residential Real Estate Market Report - Table of Contents
1. INTRODUCTION
1.1 Market Definition and Scope
1.2 Study Assumptions
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Current Market Scenario
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers/Buyers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Industry Value Chain Analysis
4.5 Technological Innovations in the Luxury Residential Real Estate Market
4.6 Government Regulations and Initiatives in the Industry
4.7 Insights into the Key Luxury Residential Real Estate Market (Supply, Rentals, Prices, Occupancy/Vacancy (%))
4.8 Insights into Luxury Residential Real Estate Construction Costs
4.9 Impact of the COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Apartments and Condominiums
5.1.2 Landed Houses and Villas
5.2 By Key Cities
5.2.1 Paris
5.2.2 Nantes
5.2.3 Lyon
5.2.4 Other Cities
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Sotheby's International Realty Affiliates LLC
6.2.2 John Taylor
6.2.3 Daniel Feau
6.2.4 Proprietes Le Figaro
6.2.5 Haussmann Real Estate
6.2.6 Homehunts
6.2.7 JamesEdition B.V
6.2.8 LuxuryEstate
6.2.9 Mansion Global
6.2.10 BellesDemeures*
- *List Not Exhaustive
7. FUTURE OF FRANCE LUXURY RESIDENTIAL REAL ESTATE MARKET
8. APPENDIX
France Luxury Residential Real Estate Industry Segmentation
Luxury residential real estate refers to properties that are exclusively designed for human occupation and that provide charm and resort life with high-end amenities. The luxury residential real estate market in France is divided into three categories: apartments and condominiums, villas and landed houses, and key cities (Paris, Nantes, Lyon, and others). The report offers market size and forecast values in (USD) for all the above segments.
| Type | |
| Apartments and Condominiums | |
| Landed Houses and Villas |
| By Key Cities | |
| Paris | |
| Nantes | |
| Lyon | |
| Other Cities |
France Luxury Residential Real Estate Market Research FAQs
What is the current France Luxury Residential Real Estate Market size?
The France Luxury Residential Real Estate Market is projected to register a CAGR of greater than 4.5% during the forecast period (2024-2029)
Who are the key players in France Luxury Residential Real Estate Market?
Sotheby's International Realty Affiliates LLC, John Taylor, Daniel Feau, Propriétés Le Figaro and HAUSSMANNREALESTATE are the major companies operating in the France Luxury Residential Real Estate Market.
What years does this France Luxury Residential Real Estate Market cover?
The report covers the France Luxury Residential Real Estate Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the France Luxury Residential Real Estate Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
France Luxury Residential Real Estate Industry Report
Statistics for the 2024 France Luxury Residential Real Estate market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. France Luxury Residential Real Estate analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
France Luxury Residential Real Estate Market Report Snapshots
