■ Positive conditions
The election outcome has reassured foreign buyers, who are returning to market. More favourable economic conditions will fuel domestic demand.
■ Global growth
The prime Paris residential market has underperformed compared with its global rivals in the last five years. We expect a period of ‘catch up’ as demand builds for prime residential. Central Paris is highly land constrained so new build supply is rare.
■ Grand Paris
An ambitious new plan for the metropolitan region. A new administrative structure and expanded metro system will unite the city with its suburbs, improving connectivity and unlocking economic growth.
■ Brexit and Paris
Macron wants to attract banks and talent relocating from London. Dublin has emerged as Paris’s main rival, but proposed plans to cut corporation tax could improve the city’s competitiveness. Relocators would likely rent before buying, so impact on the sales market would be limited in the near term.