While prices are beginning to fall in the “regular” Parisian real estate market, this is not the case in the ultra-luxury sector where rates are still rising, according to professionals.
“In the 6th, 7th, 8th and 16th arrondissements [some of the poshest districts in Paris], prices are in the stratosphere, exceeding €30,000 per square meter for turnkey properties, without any work to be done,” noted Leonard Cesari, associate director of the Mobilis Group.
These are exceptional properties that are not affected by the crisis, provided they meet international standards of hyper-high-end real estate.
Real Estate Credit Investments Limited (LON:RECI) is a closed-ended investment company which originates and invests in real estate debt secured by commercial or residential properties in Western Europe, focusing primarily on the United Kingdom, France and Germany.
