Macron voted in as France's youngest ever president

9th May 2017

As predicted in the polls, Macron has won this year's general election by a significant margin, but the new president has still a way to go with a two-part election still to come on 11th and 18th June which will decide who will fill the seats of the Assemblée nationale and what type of government will be leading France.

If Macron's party win a majority vote in these elections, he will be looking to focus his policies to boost France's economy by investing €50bn in new technologies and energy as well as loosening labour laws, expanding job training and encouraging start-ups. He plans to eliminate an unpopular housing tax, cut payroll taxes, and impose a 30% tax on capital.

The property market, which has been accelerating in 2017 and has continued to do so since Sunday's announcement, is expected to remain stable over the coming months. Macron will be looking to build on this rather than change it, however some suggestions are already in place to help dynamise the market. The wealth tax will be reviewed to focus solely on property, which will motivate French owners to sell their properties, in turn creating increasingly more opportunities on the market for international buyers.

The new president has also pledged to support the construction industry while reducing government intervention, which will be particularly beneficial in Paris where there is a housing shortage.

As a promoter of the European Union, the French president will also be looking for greater integration and tax reconciliation with more joint EU investment projects and for more flexible and fluid budget-austerity rules imposed by Germany.

After Brexit, Macron's pro-European stance helps to strengthen its capitals. Many European agencies based in London are relocating to cities like Paris and Lisbon helping to create a more dynamic working market and strengthen the economy.

So far the euro has weakened by 0.6% since Sunday, resulting in the British pound strengthening by 0.4% against the euro today. While a currency change is common after a general election, if the euro continues to fluctuate in this manner, this will be beneficial for British buyers looking to invest in France.

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