Prime France: leading French locations attract top global buyers
Continued high demand spurred on by the pandemic has led to many French locations recording double-digit property price growth.
2 minutes to read
Here we take at look at performance in key locations in France's prime property market and see how they compare with global trends.
Paris
Prime price growth in Paris has been supported by growing demand and limited supply. In the 10-years to 2022, Paris recorded a 24.6% uplift in prime prices, compared to -5.9% and 11.8% in London and New York, respectively.
Paris’s evolution as the European Union’s pre-eminent financial hub post-Brexit, alongside growing public investment, has further supported the city’s prime property sector.
Provence
After a period of uncertainty, in part due to squeezed margins and higher mortgage rates, more French banks are reopening their doors to non-EU residents. In Q2 2023, UK and US buyers have been notably more focused and engaged in their searches as a result.
With sustained appetite for property in the Provence region, prices have increased 22.5% since the start of the pandemic, with 2022 seeing a 12% uplift alone.
French Alps
The pandemic kickstarted a surge in demand for three things; space, improved health/wellbeing, and a desire to spend more time with family and friends, all factors delivered by an alpine home.
As a result, since 2020 demand in the French Alps has outweighed supply since 2020 in the French Alps, with prime prices increasing by 20.2% in the decade to 20232.
Super-prime sales are strong in the alpine region, with cash-ready buyers unaffected by rising interest rates.
French Riviera
Prime prices increased by 14.8% on average across the French Riviera during the pandemic, with St Tropez the top performing market, up 17.1% between 2019 and 2022.
The region has one of the most diverse mix of buyers globally, with British, Swiss, and Nordic purchasers leading the charge.
US buyers are continuing to take advantage of the dollar versus euro exchange rate across the region, with St Tropez a key focal point.
