The luxury property market in Paris, which saw a robust recovery last year, is being hit by the country’s political and budget turmoil and an anti-rich mood that risks driving France’s wealthiest away, a high-end real estate agency warned.
Barnes, which is present in 22 countries and has a market share of more than a quarter in the premium property segment in Paris, saw the number of transactions in the French capital and its environs jump by 22% last year to the highest level in two decades. For assets costing more than €1 million ($1.17 million), the gain was similar, ...