The health crisis has severely affected global economic activity, but the real estate sector has held up quite well. In France, sales fell little overall and industry professionals adapted at the end of the first confinement so that transactions could continue. Luxury properties, on the other hand, remained at high levels. For sales exceeding 3 million euros, the year 2020 will have been almost as exceptional as 2019, according to the Daniel Féau real estate agency network, reports BFM.
On the other hand, foreign customers, and in particular American and Chinese, have collapsed, giving way to European and French buyers in particular. Paris remains one of the most expensive cities in the world, with one million dollars (around 839,000 euros) allowing the acquisition of just 42 square meters in the City of Light, according to the latest annual study by British real estate firm Knight Frank. In London, you can expect to buy a 31m2 apartment with this amount. In New York, a few square meters are gained, to reach a total of 34 square meters.
It is in Hong Kong and Munich that the real estate market is the most expensive. In the Principality you can only get 15 m2 for a million dollars, as shown in the graph by Statista below.
More infographics on Statista.
This article originally appeared on Business Insider France
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