Even though Paris and New York no longer feature in the global Top 5 of this report, they remain two of the world's most solid and liquid luxury property markets. This is why the BARNES Global Property Handbook 2025 has chosen to present them as "safe bets" — their property fundamentals having proven themselves beyond doubt.
Paris — the self-regulating market
The high-end property market in Paris has performed relatively well in 2024, with noticeable contrasts between different arrondissements. The upscale market has undergone a complete restructuring, with a return to favour of the neighbourhoods traditionally prized by a wealthy clientele (6th, 7th and 16th arrondissements, and Neuilly-sur-Seine). BARNES Paris reports a significant uptick in transactions over 5 million euros.
New York — a resilient landmark
New York's property market was relatively dormant up until the end of 2024, with a drop in both supply and demand linked to the Presidential election year. Prices remained steady. Only a few districts awaiting renovation saw a limited decline of around 5-10%. With interest rate cuts underway, BARNES New York expects the market to pick up by spring 2025.