In Paris, after two years of correction that brought prices down by around 10%, the market seems to be returning to an acceptable level of activity. May 2026 thus reached record highs in terms of turnover for the BARNES offices in central Paris (see p. 8). The return of international buyers and the stabilisation of prices made this recovery possible. The market nonetheless remains deeply segmented: around €14,140/m² for quality properties, approximately €20,000/m² for the high end and up to €27,500/m² for the prestige segment. "Turnkey", ideally located properties sell quickly, while those requiring work undergo more marked adjustments.
On the coast, the scarcity of supply provides lasting support for values. The Bassin d'Arcachon, Cap Ferret and the Basque Coast post high levels, with peaks of €30,000 or even €40,000/m² for the best-located properties. After several years of increases, these markets are entering a normalisation phase, marked by a stabilisation of demand and greater selectiveness among buyers.
On the French Riviera, the market confirms its status as a global benchmark. From Cannes to Saint-Jean-Cap-Ferrat, international demand remains strong for rare properties, with prices reaching up to €50,000/m². In the Gulf of Saint-Tropez, some properties exceed several tens of millions of euros. Price stability and the move upmarket testify to a market structured by ultra-luxury, where land scarcity guarantees long-term appreciation.
In the French Alps, luxury real estate has now established itself as an asset class in its own right. Courchevel, Méribel and Megève concentrate an international clientele in search of a hybrid investment, combining pleasure, rental yield and wealth appreciation. Prices reach up to €50,000/m² for the most exclusive chalets. Chamonix, for its part, builds on its status as the historic benchmark of world mountaineering to remain vibrant all year round, with summer/winter sports offerings coupled with top-level gastronomic and cultural programming.
In Provence, from Aix-en-Provence to the Luberon and down to the Var coastline, the appeal rests on a sought-after art de vivre and an international clientele. Character properties and homes with views remain the most in demand, in a stable but demanding market. Finally, more concentrated markets such as Île de Ré and Corsica assert their status as heritage values. Driven by limited supply and a strong emotional dimension, they attract a clientele focused on inheritance and the long term, with prices reaching €15,000 to €20,000/m² for exceptional properties.
The major regional cities also show solid dynamics after the erratic years of 2023 and 2024. Bordeaux, after a decade of increases, is entering a phase of decline, with prices between €6,560 and €7,400/m² for high-end properties and up to €10,000/m² for exceptional ones. Lyon, for its part, is undergoing an adjustment to around €8,000/m², while retaining strong economic and rental momentum.
"We are entering a phase of maturity and selectivity in the prestige market, which is reorganising itself around lasting values such as quality of location, scarcity, architectural excellence and integrated services. The very wealthy are no longer seeking to multiply acquisitions, but to own less, better, and more intelligently. Real estate is becoming a rational and emotional refuge, where heritage, inheritance and lifestyle converge. The years 2026 and 2027 therefore promise to be very fine vintages, driven by a return to real value, to scarcity and to the quest for meaning that is redefining contemporary luxury."
Thibault de Saint Vincent, President of BARNES
"Whether it be the great historic cities, the mountain resorts or the most beautiful coastal locations, the French luxury property market remains, come what may, a global benchmark. In the first half of 2026 we are seeing the confirmation of a trend that began in 2024 and 2025, with major international fortunes choosing to invest in France for its security and long-term institutional stability. On the other hand, the family high-end market, by nature subject to cyclical and political uncertainties, may have suffered from prices that were still too high. The year 2026 should see this correction continue, to truly balance supply against demand."
Richard Tzipine, Managing Director of BARNES