Prestige real estate: 2024, a more stable year than expected

Despite difficult geopolitical and socio-economic circumstances, 2024 was a surprisingly positive year for prestige real estate, with solid results for Sotheby's International Realty France-Monaco.

Sotheby's International Realty France-Monaco, the leader in the French high-end market with nearly 80 branches, has reported a stable overall performance, with sales volume reaching nearly €1.4 billion for 2024, a slight decrease of 7% compared to 2023. This decline, linked to global challenges, masks a higher average price of €1.8 million. These figures testify to the continuing appeal of exceptional properties and the resilience of the market.

Despite a year marked by international tensions, such as the conflicts in Ukraine and Gaza, as well as major elections in France and the United States, Sotheby's International Realty saw a strong return of foreign buyers, due in particular to the parity of the dollar and lower interest rates. This dynamic has enabled the French market to maintain its stability and offer an optimistic outlook for 2025.

Record sales and an exceptional 4th quarter

The network's 80 branches achieved more than 750 prestige sales in 2024, including a growing number in the higher segments:

More than 50 sales between €2 and €3 million
More than 40 sales between €3 and €5 million
More than 30 sales between €5 and €10 million
More than 15 sales between €10 and €20 million
6 sales between €20 and €50 million
The 4th quarter was particularly remarkable, with sales volumes approaching €500 million, the highest since 2022. This rebound was underpinned by a number of factors, including lower interest rates, price adjustments and the return of international buyers.

The market for exceptional properties: still buoyant

Exceptional properties, particularly those located in iconic areas such as Paris, the Côte d'Azur, the Alps and Lake Geneva, continue to attract investors. The Sotheby's International Realty network recorded some impressive sales, including :

23 million for a private mansion in Paris (16th arrondissement)
30 million for a contemporary house on the Côte d'Azur, facing the sea
7.1 million for a rare property on the shores of Lake Geneva, near Geneva
3.75 million euros for a waterfront house in Veyrier-du-Lac, on the shores of Lake Annecy
These transactions testify to the growing interest in quality properties, which have become real safe havens for investors.

A global presence and record sales 

Sotheby's International Realty, with more than 1,000 branches in over 80 countries, achieved some very fine sales in 2024, some of them record-breaking, such as :

71.94 million euros for a large waterfront property in Palm Beach, Florida

63.8 million euros for a villa on Jumeirah Bay Island, Dubai

41 million euros for an exceptional property in Tokyo, Japan

30.68 million for Donald Trump's former home in Greenwich, Connecticut

29.88 million euros for an iconic horse farm in Bedford, New York

The network is currently offering properties for sale at record prices, including :

58.47 million euros for a property on George Washington's original estate in Mount Vernon

37.03 million euros for a historic residence in San Francisco

A year marked by a buyers' market

After a period of confinement marked by a sellers' market, the property market is now more balanced, with a trend in favour of buyers, particularly for the most prestigious properties. Foreign buyers are particularly active, taking advantage of France's economic stability and tax benefits.

Encouraging prospects for 2025

The outlook for 2025 is promising, underpinned by the strength of the buyers' market and a significant return of international investors. The adjustment in prices nationwide, combined with the continuing fall in interest rates, offers growth opportunities for prestige properties.

As a representative of Sotheby's International Realty, we remain committed to providing our clients with tailored advice and exceptional service. Whether you are a buyer or a seller, our expertise will assist you in your most demanding real estate projects. To explore our latest offers and obtain detailed information on the evolution of the prestige property market, we invite you to consult our dedicated pages.