Is this the perfect time to sell well?
We hear a lot in the press about “the real estate crisis”. But what is it really?
Anticipating the post-Olympic price correction
Junot strongly encourages owners to act without delay if they intend to put their property up for sale in the coming year. This recommendation is motivated by a significant increase in requests for estimates for medium-term sales projects, from September 2024.
Added to this is the fact that after the Olympic Games period, some owners, having taken advantage of the event to offer their apartment for tourist rental, will now consider putting their property up for sale.
Consequently, “ the market will experience an increase in the supply of properties for sale and rent after the Olympics, which should accentuate the price correction ,” underlines Sébastien Kuperfis, President of the Junot group.
Growing demand for apartments and houses, buyers are back
The wait-and-see attitude linked to the Olympic Games has led to a 16% drop in sales since the beginning of the year. Despite extended sales times (by 20% in the first quarter, now reaching 13.3 weeks between the mandate date and acceptance of the offer), supply therefore remains rare, especially when it is of quality. This scarcity keeps prices at a high level, particularly for exceptional, flawless properties, a specialty of Junot.
At the same time, the start of the drop in interest rates and banks that are more willing to lend are helping to strengthen buyers' solvency. The volume of visits remains lower than last year, but buyers' motivation remains high.
60% of Junot's customers buy without resorting to a loan. A level never reached before and which allows for extremely secure sales.
Parisian ultra-luxury is popular
Junot Fine Properties | Knight Frank notes that Middle Eastern and Asian buyers are increasingly present alongside Americans, so demand is strong for exceptional properties.
They are mainly looking for old properties with views of the monuments or rooftops of Paris, in the central, Left Bank and West districts, but also in shopping districts such as the 9th . They are willing to pay a premium for properties already renovated by an architect and “turnkey”.
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