New Figures Show Increase in French Property Investment14 June
Figures from recently rebranded property research firm DTZ show that France’s sales volumes have grown the most out of any European country during 2012 as a result of continued investment by foreigners.
The research highlighted that three quarters of real estate investment transactions took place across Europe's three largest markets; the UK, France and Germany, with volumes reaching €18.7 billion. France alone saw a 114% increase in combined residential and commercial property sales volumes for the first two quarters of 2012.
Nicholas Leach, Partner at Athena Advisors commented:
“Investors usually prefer to focus on the safety of large, well established property markets and France is no exception. The country has the lowest personal debt in Europe, sees more tourism than any other in the world and is home to Europe’s largest city-based financial district.”
Yet what is even more striking is that this increase has happened in the face of continued Eurozone uncertainty and a change in government in France. This demonstrates stability, which is something overseas property investors are looking for.”
Paris, of course, has been a focus for overseas investors. Properties within the Perphique ring road in key vacation and business tourism areas continue to attract interest. Nouvelle Vague is a rare collection of new-build properties being built overlooking the Seine, the first of their type to be built in 25 years. Prices for the studio and one to four bedroom apartments and penthouses at Nouvelle Vague start from €550,000.
La Defense is Paris’ financial and business district and is the largest of its kind in Europe. Here the recently launched project ‘Odalys Paris La Defense’ has been specifically designed to accommodate the growing business tourism market in this thriving sector of the city. Prices start from €216,000.