Paris becomes the most attractive European city for
residential investors, as global markets cool.
EXECUTIVE SUMMARY
Those of us who live and work in
Paris are acutely aware that space
in the centre comes at a premium.
As Mark Twain said, "buy land,
they're not making it anymore" and
this is certainly true in the City of
Light. Indeed, local government has
championed the idea of a 15-minute
city within their urban design; where
everything can be reached within
15 minutes, either by foot, bike or
public transport.
The recently published European
Living Cities Index analysed 142
capitals and larger cities within
04 Leggett International Real Estate
Europe, to determine which were
the most attractive and liquid,
helping investors develop a
diversified residential portfolio.
Paris came out top overall (followed
by London and Berlin) with the best
market fundamentals, location, and
connectivity - it was particularly
commended for its innovation.
Property markets around the
world have been cooling since the
conflict in Ukraine and subsequent
steep rise in energy costs. Most
countries (France included) are
seeing a tightening in lending criteria and rising interest rates -
however Paris is well positioned to
retain its popularity. Next summer
it will host the Olympic Games,
the biggest event ever organised
in France. Four billion television
viewers worldwide will see the city
in all its glory, and local hotels and
businesses will reap the rewards
of the 9.7 million spectators. Iconic
landmarks are being transformed
into sporting arenas and will provide
an outstanding backdrop.