We have a dedicated specialist residential valuation team, covering the whole of France. Whilst our team is #workingfromhome, we are continuing to work on valuations for acquisition, secured lending and accounting purposes, including valuations of some very large luxury single asset properties, investment and development properties. We are now delighted to be able to physically inspect properties wherever possible, ensuring that all appropriate precautions are taken.
Information, information, information
At this time more than ever, we know the importance of keeping in touch with all the relevant actors in the market, be it owners, potential purchasers, developers, vendors, investors, banks, mortgage brokers, solicitors, notaries and of course our incredible network of Knight Frank agents across France. We are in constant contact with all of these players to understand their different perspectives and to build a picture of how the market might evolve over the coming weeks and months.
Knight Frank Research has produced some excellent articles in the last few weeks relating to the residential sector and these provide some insight into how our research teams and agents see the market. We have rounded up those which are the most relevant to France below:
These are the 10 key points to take away:
- With the turbulence in the stock market and other investments, many will see property as a refuge.
- Residential property is likely to be key focus for investors who traditionally invested in the commercial property sector.
- Some transactions have completed during lockdown and a number are in the pipeline waiting to be completed.
- The Parisian property market has proven to perform strongly over the long-term.
- The Parisian market is characterised by strong demand and a lack of supply both in the rental and sales markets. This should help to mitigate any fluctuation in pricing. Knight Frank predicts prices stabilising or only falling marginally in Paris.
- Luxury purchasers may be less affected by economic worries than other segments of the market.
- Availability of financing is crucial to the buoyancy of the market.
- People’s homes have been their number one focus during the last 2 months which will influence decisions as soon we come out of lockdown.
- Buyers may favour having more space over other factors as well as lifestyle amenities such as fitness and wellness facilities. Outside space for those living in towns and cities will be at a premium.
- Lifestyle changes may be a factor in the contemplation of the purchase of second-homes or indeed primary residences in less urban locations. Locations which are easily-accessible, with good internet and telephone connections may be favoured.
Please do get in contact if you have any questions relating to the residential market or if Knight Frank can assist with residential valuations in France.
MRICS, REV, Managing Director & Head of Residential Valuation
MRICS, RICS Registered Valuer, REV