Do you dream of becoming the owner of a luxury property in Geneva, or would you like to put your property up for sale? Your project has every chance of success, given that the luxury real estate market in Switzerland has been doing very well for several years now. Nevertheless, to ensure the success of your real estate project, our Geneva real estate agency offers you tailor-made support.
Nessell gives you all the information you need to understand Geneva’s luxury real estate market.
Strong growth for Geneva’s luxury real estate market in 2021
According to data from the Feuille des Avis Officiels du canton de Genève, the number of luxury properties sold in Geneva in 2021 will far exceed the figures for 2020. This is proof of the excellent health of the luxury real estate market in Switzerland’s French-speaking metropolis. The results of Wealth Report’s study support this observation, stating that the Geneva market, and more specifically the luxury sector, is set to grow by 20% in terms of volume and 46% in terms of number of transactions by 2021.
The previous year also saw a change in the ranking of municipalities with the highest volume of luxury real estate transactions. Against all expectations, Cologny came out on top ahead of Geneva and Collonge-Bellerive, accounting for more than a quarter of the canton’s sales.
As for market trends in 2022, prices should stabilize or increase, according to luxury real estate specialists in the City of Calvin.
Reasons for the increase in transactions
The record figures for luxury real estate in Geneva in 2021 can be explained by several factors:
- Luxury real estate in Switzerland is a safe haven for buyers. As a result, demand has risen sharply in recent years.
- The arrival of new buyers of luxury real estate is boosting sales figures. It’s no longer just wealthy foreign clients who are interested in buying property in Switzerland. The heads of companies based in the country are also among the potential buyers of prestige properties.
- The setting and quality of life in Switzerland are the two most important factors in convincing buyers to invest in luxury real estate.
Geneva in the top 5 of cities preferred by the wealthy
Wealthy clients from all over the world are looking to invest in luxury real estate, mainly in a few select cities such as Paris, Tokyo, Miami and Geneva. In these cities, property rarely loses value, thanks to a stable political situation, guaranteed security and a high quality of life. As a result, chalets advertised at selling prices of several million CHF always sell in the canton of Geneva.
Successfully selling a luxury property in Geneva
Selling luxury real estate is a very special business. Buyers of this type of high-end property are very demanding, both in terms of the quality of the property and the quality of the real estate broker’s service. The real estate agency that takes charge of marketing the property must therefore master the codes and specificities of the Geneva luxury real estate market.
Brokers must keep in mind that their mission goes far beyond simply selling a property. He or she must be able to win over the future buyer by highlighting the exceptional features of the house or apartment.
For the property owner, the stakes are so high that he or she generally prefers to turn to a real estate agency with experience in selling luxury real estate in a given sector.
Indeed, this market is so special that a small error can be very costly for both buyer and seller. As soon asyour luxury property is appraised, the price must be precisely defined according to the market price. For this, it’s a good idea to contact a professional who knows the Geneva luxury real estate market inside out.
Finding potential buyers of luxury real estate also requires extensive national and international contacts and networks. The number of people with the means to buy real estate worth over CHF 4 million is limited. For this reason, it’s best to use the services of a real estate agency specializing in the luxury market.
To start your real estate project in Geneva, don’t hesitate to get in touch with our real estate agency team by phone, email or directly in our office at Rue Peillonnex, 37 CH – 1225 Chêne-Bourg / Geneva – Switzerland.
Nearby Haute-Savoie also offers many advantages for your luxury real estate project.
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