The luxury real estate market has been deeply impacted by the Ukraine-Russia war and the COVID-19 pandemic, creating a shift that has left property owners increasingly anxious. In what has become a buyer’s market, owners of properties valued at over €5 million are growing fearful about the future of their investments. Even in traditionally desirable locations like the French Riviera, the market is becoming increasingly difficult. Properties are proving heavy to sell, with lead times stretching up to 8 years. Buyers are now scrutinizing not just the property itself but also the broader context of the country in which they are purchasing, including political stability, economic conditions and how well the country is organized. The article says this is driving property owners to seek alternative selling strategies, including auctions and other ways of preserving value.
The Luxury Real Estate Market Has Changed: Owners Fearfully and Nervously Explore New Possibilities for Selling
