As at least 70,000 finance jobs are predicted to move from London to Paris, our Winkworth France property experts predict an increase in demand for Paris apartments. Read on for our international news round up.
A view of the Seine from this wraparound balcony five floors up in the fourth arrondissement
When France launched its charm offensive to lure UK financiers to Paris last year, it introduced ways to lower taxes and cut red tape for international bankers. It’s since become clear that President Macron, Prime Minister Philippe et al, are pitching Paris as the city to replace London as European centre for finance. However, while this extensive lobbying could simply be viewed as the French preference for a hard brexit, a number of British bankers are also realistic about the need to move if/when the UK leaves the single market.
Corporate relocation comes with benefits at this three bedroom apartment for sale in the sixth arrondissement
Whatever happens, If you’re one of the UK bankers for whom Paris is currently flying the flag, now is the time for a reconnaissance trip to Paris, according to Winkworth International’s David King. "Invest in a Paris apartment before demand outstrips supply, and you’re well placed for a return on your investment,” he says. "The market for apartments in the Paris arrondissements has remained robust in all the years that Winkworth have sold property in France. Which is excellent news if you plan to live and work in Paris for a set period of time before selling.”
This former artist’s home in beautiful Île Saint-Louis retains a wealth of original seventeenth century features.
We see equally lucrative opportunities for buy-to-let Landlords, with an increased expat demand for rental property in Paris. This pied-a-terre for sale in the sixth arrondissement - with its own parking space - has the potential for excellent rental return.
In other news, France has overtaken both The UK and The US to become the world’s top “soft power”, based on its ability to influence through international alliances and diplomacy. This is thought to be due to a global perception of Macron as a force for good, together with an internationally renowned diplomatic network. With Paris at its centre, France is more than ever before a country with global reach.