"Beaten by the waves, it does not sink".
Like the illustrious motto of the capital, Parisian real estate has succeeded in limiting breakage in 2020. From the most attractive capital in 2019 with very large fortunes, the city of light drops to seventh place in 2020, dethroned by Zurich (+ 30 places), the Swiss city, the center of banking and financial markets, also renowned for its high quality of life.
"Even if the French capital has lost the head of the ranking, it remains in the top 10, a sign that Paris is still dreaming and rhymes with the words luxury and art of living", tempers Thibault de Saint Vincent, the president of the real estate specialist of high-end Barnes market at the origin of this annual list.
This ranking relates exclusively to luxury real estate, the very high end where transactions reach several million euros.
A very small market which nevertheless remains an excellent barometer of the attractiveness of the major world capitals.
It is aimed at the most fortunate, ultra-rich families with assets of more than 25 million euros.
Some 280,000 people around the world - including more than 4,600 in France - who total more than 32,000 billion euros in their portfolio, according to Barnes ...
Astronomical sums that make real estate prices soar and give rise to record transactions.
This is the case, for example, of this exceptional apartment of 407 m2 located in Champ de Mars sold last year for 10.5 million euros, or more than 25,700 m2 or of this other property located in the heart of the city. from the capital, in the highly prized Marais district, bought more than 33,000 euros per m2.
The left bank and the Marais are the most sought-after districts with districts such as Saint-Germain, Luxembourg or Les Invalides, even if the family districts of the right bank (8th, 16th, 17th arrondissements) remain safe values.
The Covid redistributes the cards
For Olivier Princivalle, deputy president of the FNAIM Grand Paris, this plummet of six places is linked to “economic and social events” that the capital has been experiencing for two years.
“I am thinking of the transport strikes in 2019, the yellow vests crisis and more recently the Covid crisis and its repeated confinements which have forced traders and hoteliers to close.
But Paris is a world city and it should remain in the top of the ranking of the most attractive cities with real estate prices among the highest thanks to its buildings and its monuments, ”he concludes.
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What makes Richard Tzipine, managing director of Barnes, say that "Paris is doing well", especially compared to other large capitals.
"The health crisis combined with an unprecedented economic crisis has redistributed the cards of major international cities popular with the wealthiest," notes the study.
While New York, London, Hong Kong, Los Angeles and Paris have been widely in the lead for decades, for the first time none of these cities is in the Top 5 ”.
The Covid crisis would even have cleaned up the Parisian market according to this professional.
"The confinement made it possible to reset the counters to zero and to start on new bases by rebalancing the supply and demand for goods", he underlines, betting on an upward stabilization of prices in the capital this year. .
Bordeaux's remarkable entry among the 50
Bordeaux made a remarkable entry at 50th place in this world ranking.
Two hours from the capital, the city is also 45 minutes from the Atlantic coast.
It appeals to Parisian executives looking for green space and a semi-main part-time residence.
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"Many entrepreneurs and liberal professions set up part or all of their activity on site and make round trips to Paris by train, which leads to a lack of quality goods and keeps prices on the rise", summarizes Aymeric Sabatié-Garat, director of Barnes in Bordeaux.