Mercure Forbes Global Properties, which has been specialising in
prestige and character properties for 87 years, has posted a 22% increase in results
despite a complicated macro-economic and geopolitical context in the second
half of 2022.
For 2023, some uncertainties weigh on the property market, mainly
linked to the rise of interest rates, energy costs and the
increase in raw materials.
Nevertheless, after the opening of two new agencies in 2021, the
group confirms its ambitions for 2023 by continuing its development
in France.
"2022 has been an excellent year for the group, with
sustained and increasing growth, a rebalancing of our business between urban
and rural areas while accelerating our structuring plan," said Olivier
de Chabot-Tramecourt, Managing Director of Mercure Forbes Global Properties.
The group began 2022 with the same momentum as at the end of 2021,
recording 332 transactions for a volume of just over 290 million
euro.
The presidential elections did not interrupt the good start to the
first half of 2022, which accounted for 60% of the year's transactions.
The first signs of a slowdown came in July with a drop in visits and
signatures. The property market contracted in the second half of the year as a
result of the economic and geopolitical context.
The rise in energy prices and new environmental standards led to a return to negotiation in favor of buyers of around 3 to 6%.
The declining demand in major
cities such as Bordeaux, Lyon or Toulouse has led
to a further downturn in this market, contributing to a rebalancing of prices,
except in Paris, which has maintained its dynamic as the capital city and attraction to
foreigners looking for top-of-the-range property in the City of Light.
Another remarkable fact of 2022: the return of foreign customers. While Asian
buyers have not yet returned and British customers are still few in number
to request visiting properties, American customers have benefited from
the euro/dollar parity with a gain in purchasing power of up to 20%.
The group's foreign investors accounted for 14% of turnover
compared to 11% in 2021 when European neighbors were predominant.
The castle market
The group's leadership in the castle market has seen a
14% increase in the segment's share of sales for the year,
with castles accounting for 34% of Mercure Forbes Global Properties'
transactions in 2022.
The group still holds 50% of the castles for sale in France
and maintains its market share of one in three castles sold in France with a
cumulative number of over 5,100 castles sold.
Mercure Forbes Global Properties, a real estate group committed
to the conservation and preservation of built heritage, is also becoming
a leader of the Demeure Historique and strengthening its
ties with Vieilles Maisons Françaises and Dartagnans.
2022 or the rebalancing between rural and
urban areas
Since 2020, the sanitory crisis, the remote working
new tendency and people who are seeking for
an authentic lifestyle, have intensified the demand
in rural market.
This phenomenon resulted in a 30% contraction in the stock of
character houses, manor houses and castles, especially in the
attractive areas of the major cities and along the main communication routes
(transport, internet, services, etc.).
New customers in town centres contributed to
a more balanced negotiation environment with sellers for
well-situated flats and town houses which have small
exterior, and, endowed with the characteristics of the
beautiful french heritage.
This period
contrasts with 2020 and 2021 where negotiations
were difficult and properties were lacking.
We notice that the demand for properties which aims to
develop tourist activity is currently increasing. It is however difficult
to find an appropriate property for
such commercial activities.
For Mercure, the second home market is dynamic with
an increase of 6% in 2022. This is motivated by the changes in the
ways that the customers make use of the properties, for whom these second,
vacation homes become their main address.
About
Mercure Forbes Global Properties Group
Mercure
Forbes Global Properties is a specialist and a true expert, and since 1936 has
been offering the most comprehensive selection of French real estate.
From
charming houses to castles, from rural estates to urban and contemporary
properties, the Mercure Forbes Global Properties group offers more than 1,000
character properties for sale and rent throughout France.
With
20 locations throughout France and an international team, the group is
committed to Propriétés d’Excellence by meeting the demands of a
high-end French and foreign clientele.
CONTACTS:
http://www.groupe-mercure.fr/
