Parisian property deals boost French finances | 17 November 2014
Strong results in Paris have helped the French commercial property industry post year-on-year growth of ten per cent.
According to the most recent Savills forecast, Q3 2014 will have seen property investments across France total more than 15 billion euros – a ten per cent increase on the same period in 2013. Looking at full-year figures, the total is expected to be nearer 21 billion euros – representing annual growth of 19 per cent, gaspark.co.uk notes.
Much of this has been attributed to positive results in the French capital. Whereas recent trends have seen property deals in many other EU nations move away from the capital cities, this hasn’t been the case in France. Instead, Paris has seen its stock grow as businesses and developers alike consider it for their next high-profile move.
Another contributing factor is the increase in large-scale deals being agreed across France. Five deals worth over 500 million euros have already been brokered, with more anticipated before the year’s end. Back in 2013, meanwhile, no such deals had been done by the end of Q3.
Despite the focus being placed on big deals, the director of investment at Savills France, Boris Cappelle, noted that the smaller businesses have also played their part, with more modest deals ticking over throughout the year to help maintain positivity.
He told propertywire.com: “While we have seen an increase in appetite from overseas investors in France, it is important to note that this is mainly for big ticket and landmark buildings, with domestic investors remaining far more active in terms of the number of overall deals being done.”
The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.
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