The City of Light is shining bright

Paris’s residential market is a key bright spot globally. Few luxury residential markets can be considered a sellers’ market in today’s economic climate but since 2017 the city of lights has seen several factors coincide to boost activity.

President Macron’s pro-business stance, a resurgent commercial sector, large-scale infrastructure projects, cheap finance and constrained supply (there are very few new-build opportunities in central Paris) have boosted sentiment.

At €19,000 per sq m, prime prices in the city also compare favourably with other first tier global cities – the equivalent in London and New York would be closer to €28,000 per sq m and €27,600 per sq m respectively. Prime prices in the French capital jumped 5% in the year to Q2 2019 and stand 21% above their low in Q4 2015.

International demand is strengthening amongst European, US and Middle Eastern buyers in particular. A US buyer is currently able to secure a discount of nearly 14% in Paris compared to 2011 taking price changes and currency into account.

Paris is the venue for two major regeneration projects. The first, the €26 billion Grand Paris Project, will be Europe’s largest development opportunity over the next ten years. A city-wide initiative, the project will add 200 kilometres of new rail capacity, deliver or upgrade 68 metro and RER stations and provide a new ring route around Paris with lines connecting developing neighbourhoods (see map above).

The second, the 2024 Summer Olympics, will see the development of the Olympic Village on a riverside site in Saint-Denis, 15 minutes from the city centre and most events will be held in and around Paris, including the suburbs of Le Bourget, Nanterre, Versailles and Vaires-sur-Marne.

Download the Prime France Report to read our analysis for each key region or view a selection of exceptional properties in French View

For more information please contact Kate Everett-Allen