They call it the Macron effect, and it has started to take Parisian luxury property by storm through immediate sales.
The presidential election of Emmanuelle Macron has moved property in Paris in the spotlight as domestic and international investors return to the market. According to the Financial Times, “popular family apartments are selling within a few days, with 10 to 15 buyers for each apartment. It’s the Macron effect. With the uncertainty of Brexit and the problems of Theresa May we have lots of French nationals living in the UK who want to buy properties in Paris.”
Along with political problems such as Brexit, the cheap mortgages, increasing number of transactions, and low interest rates (1.2 per cent over 15 years) are added factors to this wave of optimism amongst consumers. As a result, the real estate market in Paris is strengthened, encouraging investments sooner rather than later.
There has been a strong influx of foreign consumers, specifically Italians, Americans, Chinese, and British. These shifts have been seen in the west center of Paris, consisting of luxury property and high-end apartments.
As a result, the demand will certainly increase for several neighborhoods in Paris, which will have a direct relationship with prices. It is evident that there has been no better time to purchase Paris real estate than now.
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