How did Brexit influence the French luxury real estate market?
We know, the Brexit effect, so feared and expected by many countries, is undoubtedly affecting many citizens, residents and not in the United Kingdom.
Most foreigners, who are currently in this territory, are asking themselves some questions, about the convenience or otherwise of the new system that will soon be adopted by the country.
Therefore, all economic sectors are faced with a circumstance that is, to say the least, uncertain, which still does not seem to have any concrete implications. However, this limbo is not just a stalemate for one of the oldest kingdoms in Europe. In fact, it represents a great opportunity for a State that is near but at the same time diametrically opposed to Great Britain.
We are talking about France. The sector that is particularly benefiting from the Brexit effect is the real estate sector, especially the luxury segment. Since the beginning of this phenomenon, around 3 million euros have been reached in purchase and sale contracts stipulated between the French and the so-called Brexiters. It is mostly fathers of families, considering that the search for a property in France is linked to the proximity, in the area to play areas - sports and schools. The international (private) schools are very popular, and they clearly understand how the reference segment is not the standard one, but rather the luxury segment that currently appears to be "cheap".
The arrival of a new customer on the French real estate market guarantees a decidedly higher overall purchasing power than the average of local citizens, contributing to the increase in property prices which, however, appear more convenient compared to the British ones. There is therefore a strong excess of demand, especially in the capital, against a clear lack of supply.
In the Martyrs-Montmartre area, the luxury market is fluid, and it starts from prices (record) like 20,000 euros per square meter.
The best-selling houses at over a million euros are circumscribed around the Paris area, thanks to the perfect quality / price ratio, extremely favorable for investors. The potential proximity to the historic center, the art, the city liveliness and the nightlife, are just some of the elements that encourage more and more people to buy a property in France, regardless of high prices.
Paris is therefore experiencing a phase of great expansion, so much so as to be defined as a real estate megalopolis. It should be remembered, however, that buyers are particularly selective: the houses on which their attention is placed are renewed, green, domotized and innovative, without neglecting the contemporary, luxurious and refined French style.
Strange but true, it seems that the much-feared UK exit from Europe is causing a curve in the real estate market in favor of France. It is hoped that it will improve this situation, even without the help of additional exits!
Most foreigners, who are currently in this territory, are asking themselves some questions, about the convenience or otherwise of the new system that will soon be adopted by the country.
Therefore, all economic sectors are faced with a circumstance that is, to say the least, uncertain, which still does not seem to have any concrete implications. However, this limbo is not just a stalemate for one of the oldest kingdoms in Europe. In fact, it represents a great opportunity for a State that is near but at the same time diametrically opposed to Great Britain.
We are talking about France. The sector that is particularly benefiting from the Brexit effect is the real estate sector, especially the luxury segment. Since the beginning of this phenomenon, around 3 million euros have been reached in purchase and sale contracts stipulated between the French and the so-called Brexiters. It is mostly fathers of families, considering that the search for a property in France is linked to the proximity, in the area to play areas - sports and schools. The international (private) schools are very popular, and they clearly understand how the reference segment is not the standard one, but rather the luxury segment that currently appears to be "cheap".
The arrival of a new customer on the French real estate market guarantees a decidedly higher overall purchasing power than the average of local citizens, contributing to the increase in property prices which, however, appear more convenient compared to the British ones. There is therefore a strong excess of demand, especially in the capital, against a clear lack of supply.
In the Martyrs-Montmartre area, the luxury market is fluid, and it starts from prices (record) like 20,000 euros per square meter.
The best-selling houses at over a million euros are circumscribed around the Paris area, thanks to the perfect quality / price ratio, extremely favorable for investors. The potential proximity to the historic center, the art, the city liveliness and the nightlife, are just some of the elements that encourage more and more people to buy a property in France, regardless of high prices.
Paris is therefore experiencing a phase of great expansion, so much so as to be defined as a real estate megalopolis. It should be remembered, however, that buyers are particularly selective: the houses on which their attention is placed are renewed, green, domotized and innovative, without neglecting the contemporary, luxurious and refined French style.
Strange but true, it seems that the much-feared UK exit from Europe is causing a curve in the real estate market in favor of France. It is hoped that it will improve this situation, even without the help of additional exits!
