View from the Immobilier: “Very Few Vendors Have Decided To Withdraw Their Properties.”

First published: 11th May 2020 by Vanezza Avinante

This week we hear from Susie Hollands, CEO and Founder of the Paris agency Vingt Paris, one of our FrenchEntrée partners.

“Here at VINGT Paris, we’ve actually been very busy during the confinement. Indeed, very few vendors have decided to withdraw their properties, which is good, as the problem in Paris is always lack of inventory. That’s the key reason for the consistently high prices. So, buyers can look forward to a slight adjustment of pricing, but we are not expecting anything dramatic.

Also, it’s important to mention that the notaires are working exactly as normal, but in a remote capacity, and have enabled clients to do the same – with online signing available etc.

Certainly, as we have also touched on before, the market remains very buoyant in Paris. In terms of facts and figures, most of our customers are continuing as normal with their property searches. In fact, as mentioned, because they had a little more time for reflection, there has actually been a lot of progress in recent weeks.

At the time of writing, the lockdown is just about to ease here, so we are now looking forward to getting back into the apartments – and seeing all the new ones coming onto the market. Some owners due to the current conditions have approached us to sell their properties so we have new and interesting products coming.

In addition, as we also act as a buyer’s agent – seeking out properties to a specific brief – we expect to be very busy in the coming weeks – and even over the summer.

There’s a strong reason to believe that, unlike normal Augusts in Paris, when things tend to slow right down, everything will be very busy. So, there’s a lot more going on in Paris than you might think – and, even during the lockdown, we have sold quite a few properties – and there’s every reason to hope that things will be getting back to normal by the end of the year.”