A report from the Barnes Real Estate Agency was recently published and it became known who led the ranking of cities in terms of the number of real estate sales among super-rich families. Those are considered those whose capital is more than €900 thousand.
Paris leads
The French capital retains its popularity, despite the political upheavals that have been going on for more than a year: the protests of the “yellow vests” and the transport strike. This is all even more surprising when you consider that half of the foreign buyers of objects worth more than €1.4 million are Americans who appear to be very precise about the political environment.

The reason for this trend, experts believe to be the fact that the government and the media in droves do not broadcast this tension across the Atlantic, and that is why the Americans maintain their attachment to France and, in particular, to Paris. They value the “village spirit” because they are interested in the history of the area in which they are going to live.

The experts also believe that the reason for the record sales was that Paris did not suffer from Brexit and from low rates. The good economic health of this global cultural capital is also noted. It became an exception in the world: transactions and prices rise for the fourth year in a row.

Things are going well, but not for everyone
To ensure that words weren’t just words, convincing statistics were provided: the agency never sold as many objects in less than 72 hours: 191 in 2019 against 152 in 2018. Family apartments simply do not reach the public, because as soon as they appear in the company, the transaction is completed after two or three visits. For example, an apartment of 91 sq. m. in Chatelet (1st arrondissement) was sold in 24 hours at a price of €1.17 million (almost €13,000 per sq m).

Top 10
1. Paris;
2. New York;
3. Tokyo;
4. Los Angeles;
5. Hong Kong;
6. London;
7. Toronto;
8. San Francisco;
9. Lisbon;
10. Madrid.

The biggest loser of the rating was Hong Kong, which rolled down from the first to the fifth place in a year. This is due to the political crisis, which caused a massive outflow of the main buyers – the Chinese – to the mainland. But London, despite Brexit, retained its place. Barnes experts believe that buyers have taken a wait and to see what will happen next.