Are you planning to sell your property in France fast? That’s great, you’ll find that there are a plenty of takers for real estate in France. As a matter of fact, the property market in that country has by far outperformed the Paris stock market.
Indeed, real estate prices across France have gone up by an astonishing 400% over the last 20 years on an average. They have gone up by an even bigger margin in the central districts.
In comparison, the Paris stock market has gone up only by 90%. Considering that the inflation has gone up by 30% in this period, we can tell you that investing in property is a very good deal indeed.
It may be argued that the gentrification of the various districts in Paris and other cities have contributed to the massive increase in real estate prices. In the district 16th of Paris, prices have gone up by three times over the last decade.
Impact of Brexit on the French Property Market
If you’ve a property for sale in France you would be interested to know about the impact of Brexit on the French property market. Well, we can tell you that a lot of overseas businesses are moving to Paris from London because of Brexit.
Even as Britain has bid goodbye to the European Union, France under the new President Emmanuel Macron has embraced the EU. That has certainly helped.
Macron explained why UK had opted for Brexit and France hadn’t in a recent interview to BBC. He said, "Middle classes and working classes and especially the oldest in your country decided that the recent decades were not in their favour and that the adjustments made by both the EU and globalization… wasn't in their favour."
Macron has emerged as a central figure in Europe. Some even call him the King of Europe. He not only wants France to stay in the EU, but wants the European Union to become stronger.
This has certainly made international property investors feel better about France. There is a lot of interest in the property market here from wealthy foreigners who wanted to invest in London, but are now looking for alternative options following Brexit.
Properties in the best areas in Paris are now priced the same as those in some of the most exclusive neighbourhoods in London, such as Kensington & Chelsea. While apartment prices in the 6th District of Paris are 12,320 €/m², those in Chelsea are 12,378€/m2 and in Kensington £11,192/m².
This is just to give you an idea of how well the property market is doing in France. The average apartment prices in Paris are 9,875€/m², which is still affordable compared to the average apartment prices in some of the top cities in the world such as Hong Kong (21,885€/m²), New York (10,933€/m²) and London (14,692€/m²).
This goes to show that for those who want buy property in France, there are a number of great options still available. You just need to know where to look.