Exceptional property prices to rise by 6.2% in 2022 in Paris, according to the Wealth Report unveiled by Junot Fine Properties | Knight Frank

Junot Fine Properties | Knight Frank, the Paris-based specialist in exceptional real estate, presents the 17th edition of the "Wealth Report".

This landmark study offers a unique insight into the evolution, investments, attitudes and choices of the world's ultra-wealthy individuals (the "UHNWIs").

Exceptional property prices to rise by 5.2% in 2022 worldwide

Of the 100 markets tracked by the Prime International Residential Index (PIRI 100), which analyzes the evolution of exceptional property prices in 100 key cities, Paris ranks 39th out of 100 in this global ranking.
In the French capital, exceptional property prices rose by 6.2% in 2022, a more marked increase than the global average of 5.2%. In Paris, US$1 million can buy 43 m2 of premium space (a price per m2 of $23,256), making the city more expensive than Sydney, but less so than Los Angeles.

Paris continues to attract the ultra-rich

"In addition to the strong presence of American buyers since 2022, Chinese and Middle Eastern buyers have been flocking to the Paris market for exceptional properties since the beginning of the year. These customers are looking for a safe haven in a strategic location in Europe, while enjoying the cultural activities that Paris has to offer. With renovation costs and timescales rising, foreign buyers are targeting turnkey apartments, and are prepared to pay premium prices for the exceptional," explains Alison Ashby, Director of Junot Fine Properties | Knight Frank.