In London and Paris, returning transactions with vendors again become reasonable.
Paralyzed a year ago by the collapse of Lehman Brothers, the international market for luxury real estate begins to take color. "Transactions of quality goods resumed after six months off net", says Fabienne Lenfant, director of the London bureau of the real estate firm Barnes.
In the UK, potential buyers, mostly foreigners, were encouraged by prices that have fallen 30% since their peak in summer 2007, but also by the collapse of the pound sterling, which is equal to that around 1.10 euro (1.50 cons mid-2007). In this climate, the exceptional properties are beginning to reappear on the London market. As St Savior's House, a church converted into a luxury home (800 sqm, six bedrooms, with pool and sauna in the basement), close to Harrods, in the heart of a very posh Knightsbridge.
In Paris also the thaw is well underway, provides Thibault de Saint Vincent, president of Barnes: "The confidence is back from January. There is more panic, sellers have become more reasonable, with prices declining by 10% a year in Paris intra muros, and 30% in the beautiful heart of western Paris. " On the Riviera - a market that had become a caricature - buyers and sellers are also back down to earth.
Paralyzed a year ago by the collapse of Lehman Brothers, the international market for luxury real estate begins to take color. "Transactions of quality goods resumed after six months off net", says Fabienne Lenfant, director of the London bureau of the real estate firm Barnes.
In the UK, potential buyers, mostly foreigners, were encouraged by prices that have fallen 30% since their peak in summer 2007, but also by the collapse of the pound sterling, which is equal to that around 1.10 euro (1.50 cons mid-2007). In this climate, the exceptional properties are beginning to reappear on the London market. As St Savior's House, a church converted into a luxury home (800 sqm, six bedrooms, with pool and sauna in the basement), close to Harrods, in the heart of a very posh Knightsbridge.
In Paris also the thaw is well underway, provides Thibault de Saint Vincent, president of Barnes: "The confidence is back from January. There is more panic, sellers have become more reasonable, with prices declining by 10% a year in Paris intra muros, and 30% in the beautiful heart of western Paris. " On the Riviera - a market that had become a caricature - buyers and sellers are also back down to earth.
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