Whether you are looking to buy or sell property in France online, you couldn’t have missed what happened on May 7 – Emmanuel Macron, a 39-year old former investment banker, won the Presidential election in France by a massive margin over his rival, Marine Le Pen of National Front.
Real estate experts in France celebrated his win as it means that France will still continue to be a part of the European Union. There is a wave of optimism in the French economy and in the property market because of this win, which is not hard to miss. The markets were already hinting at a Macron win since April, as the pro-EU candidate, with buoyant property prices.
Macron’s win not only means that things will continue the way they are, it indicates that there will be no shocks to the system. France will certainly retain its position as one of the most attractive destinations for property investment in the European Union. The properties for sale in France will be highly prized no matter where you are from.
The interest rates will remain slow in the near term future, now that there is no fear of far right Eurosceptics coming to power in France. France will remain a top overseas property destination and could even outperform the United States in 2017 – such is the level of confidence that investors have in France right now.
So what are the changes that President Macron will bring to the French property market? Macron will not remove wealth tax. He wants wealth tax to include real estate, which means property owners will still continue to suffer from it.
However, he has promised other positive measures such as ensuring regulatory stability and fiscal responsibility, and to reduce much of the taxes faced by overseas investors that prevent them from investing as much as they would like to in France. He has plans to make housing more affordable to the public by increasing the housing stock across France.
But why are real estate observers so excited by Macron? After all, he has never held a political position before, and has no administrative experience. Even his business experience is limited – after all, he is only 39 years old.
There is an air of mystery over Macron as nobody knows how exactly he managed to this position of power in such little time. What explains this newfound optimism in the French property market?
The reason is not hard to see. The real estate market in France has fallen by 10 percent since Francois Hollande became President in 2011. So it is fair to say that President Hollande has been an unpopular leader with homeowners in the country.
So anyone would be an improvement over him, as long as the replacement does not plan to wreck the system as Le Pen wanted to. For this reason, the markets have been enthusiastic about President Macron and one hopes that their faith will prove to be justified. Meanwhile it is as good a time as any to buy property in France online.