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Paris, March 4 2015 – For the second year, EY and JLL have published “Why invest in Paris?”, their reference guide for foreign investors on the French real estate investment market. “Following three years in which the investment market hovered around 12 billion euros, 2014 was an excellent year for the Greater Paris Region market, which surpassed the 17 billion euro mark. It was the best year recorded since the 2007 peak. While the London market was down year-on-year – recording a 9% fall in investment volumes – the Greater Paris Region market recorded an increase of 46% in one year. The first economic region in Europe, Paris is then the only European city along with London to rank amongst the global megacities. This gives a good idea of the stakes and scale of the Grand Paris ( project, which does not boil down to a mere transportation network but also includes multiple dimensions such as housing, economic growth, the environment and culture” says Stephan von Barczy, Head of French Capital Markets Group, JLL.
But Paris’ attractiveness goes far beyond the question of offices. The French capital city benefits from its position as the economic and political hub of the country, in the heart of the Ile-de-France region, the most densely populated and economically dynamic region in France. La Ville Lumière has a unique heritage and is one of the first acclaimed cultural and touristic destinations in the world which supports the city’s premier global position in the luxury retail and hotel sectors. The residential property market has also shown a high degree of resilience to the global financial crisis as buyers continue to choose Paris as a safe haven for their private residences or buy-to-let investments.
“We are pleased to announce the publication of the second edition of our 2015 “Why invest in Paris?” guide, a reference manual designed for those investors who are new to our market. We will provide an overview of the Paris Region’s economy and principal real estate submarkets before looking in closer detail at the legal and fiscal aspects of property investing in France. In particular, the Pinel Law and its implementing decree which are entered into force the 20 June 2014 and 5 November 2014. These new provisions have profoundly changed the system of commercial leases and, respectively, therefore, the relationship between lessor and lessee. Furthermore, an amendment to the Franco Luxembourg Treaty, which comes into force in 2015, should have a strong impact on foreign investors. We do hope you find this guide useful” says Jean-Roch Varon, Head of Real Estate France, EY.
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