People believed that Paris’s real-estate market would see dark times after the pandemic. Instead, however, the prices are rising with the flourishing post-pandemic world. So while Barnes and Sotherby’s predicted 2021 to be a record-breaking year for France, the prestige property also boomed.
We had one of the best years in 2021. I think COVID made things happen. In 2021 for example we did plus 50 percent compared with 2020, so it’s really a big year for us.
A Netflix show – The Parisian Agency – showed a family (The Kretz) how they ran their luxury real-life real estate family business. The founder of the business expressed his views that as people look for apartments having gardens and space, this is because their life during the pandemic was confined to closed doors. Ultimately, apartments with open spaces got more expensive than those without open spaces.
According to Valentin Kretz, more people would be investing in their dreams of luxury real estate because of what they experienced in the pandemic. He believes people saw their future, and now they want to make room for another pandemic should it come.
He sternly believes that real estate is still the best ground for investment because there is simply not a better option out on the table till now.
Would You Bet Like Investors Want To?
With the changing consumer trends, realtors have also evolved to offer what is demanded. However, the question remains how investors would feel about investing in the good deals immediately!
Global Director of Capital Markets Research – Sean Coghlan – thinks innovation and design can be highly sustained in 2022 through different opportunities surfacing in the market.
He believes this era has brought us new ways of playing, working, and overall living. The people are experimenting with them, and the process keeps throwing windows of opportunities for those on the lookout. People are hardly focused on sustainability rather than considering it as an option.
As an investor, nowadays, technology can offer a lot of different perspectives to the real estate industry. However, he sees it as a theme where one would see various groups grabbing different opportunities surfacing in the market over the months.
To Sum It All Up
Professionals from sectors of deal makers, designers, and investors all believe that COVID has a big say in the property market. However, people will reshape their way of thinking and adjust to such changes, just like they got accustomed to the everchanging climate change scenario. Both developers and financial analysts need to grasp this new connection between culture and psychology because the better and the sooner they accept this fact, the sooner they will grab more opportunities.