Falling prices do not scare buyers of real estate in France

Falling prices do not scare buyers of real estate in France

Most of buyers of luxury housing weren't afraid of the recent increase in tax rates and a 10 percent decline in prices, reports Coldwell Banker and lux-residence.com, based on the survey results. Thus, 54% of respondents considered luxury real estate in France as a good investment, and 56% - admitted that they are going to buy a house in an exclusive next year.

The survey polled 100 respondents from different countries, who were going to purchase a house priced from €750,000 to €10 million. The majority of respondents did not frighten the poor state of the French economy. Moreover, 75% of respondents believe that the economic situation could worsen in the coming months, and nearly 30% - believe that house prices will fall by 7-10%.

Despite the problematic economic situation in Europe, France remains attractive to buyers of elite property, says Lauren Demer, CEO of Coldwell Banker. Investors from abroad form 23% of the demand for luxury properties in France. Basically it is the citizens of the United Kingdom, Monaco, Russia and Germany. Russians are mainly interested in prestigious high-end objects ranging in price from €3 million to €10 million.