INDISPUTABLE PROOF THAT WEALTHY EXPATS ARE COMING HOME TO FRANCE
BFM BUSINESS - JUSTINE VASSOGNE - 12-19-2017
Luxury real estate is in an excellent state of health. Specialists Daniel Féau have revealed record-setting sales in the Parisian market for the year 2017. Foreign buyers are once again purchasing properties in Paris, but above all French ex-pats are coming home.
In the Daniel Féau agencies, it’s all hands on deck. In the words of the group’s President “It’s extraordinary, the telephone rings non-stop”. On the end of the line, French ex-pats in London or Brussels who, attracted by a significantly more advantageous tax system, are deciding to come back to Paris with their families.
As proof, demand has rocketed in the 16th District. Somewhat abandoned over the past few years despite its excellent schools and its peaceful atmosphere, the District has over the past few months become the place to be. And never before has a comparable number of acquisitions by French nationals living abroad been recorded.
Prices have increased by 7%.
A dynamic that has had repercussions on prices: on average in Paris, they have increased by 7% this year. The price/sqm, today often in excess of 27.000 euro, should continue to rise in 2018.
For the French are no longer leaving the country. As a result, very few assets are being released: the offer is at its lowest level for a decade. The Daniel Féau network has not recorded a single sale as a result of a French resident leaving the country since last June. “In my 35 years in the business” says Daniel Féau’s president “I have never seen anything like it”.
Translate by Simon Goodman.