Despite COVID Challenges, France’s Luxury Markets Remain Resilient in 2021

Source: The World Property Journal — 

According to international property consultant Knight Frank, despite three national lockdowns, a delayed vaccine program, closed borders and with residential sales halted for several weeks in the second quarter of 2020, France’s prime residential markets saw prices increase 1.3% on average in 2020 and cumulative sales increased 5% in the six months to February 2021.

Stimulus measures – €604 billion in additional spending coupled with 50-year low mortgage rates, allowed homeowners to relocate or purchase a second home during the pandemic at relatively affordable cost.