Ranked the third-best city in Europe for real estate prospects for 2021 by PwC, Paris has an active real estate market with properties here increasing in value and a plethora of exciting infrastructure improvements on the horizon. Despite the challenges of 2020, €13bn of real estate transactions were made between Q4 2019 and Q3 2020, making the Parisian property market the second-most active in Europe. During the course of 2020, the average price per sqm in the French capital rose by 5.7%, bringing the median value up to €10,683 per sqm.

Quality of Life

The love affair between Paris and international investors continues to attract an international clientele who come to soak up the unique culture, sample delicious food and wine and bask
in the quintessential Parisian lifestyle. Home to some of the best museums and galleries, exquisite restaurants and the birthplace of the famous coffee shop culture, the French capital continues to live up to its reputation for both residents and visitors alike.

The Grand Paris project and the 2024 Olympic Games

Some €35 billion is being invested in what is dubbed the largest transport project in Europe, a level of development not experienced in the city since Baron Haussmann’s urban renewal programme in the 1860s. It is transforming Paris into a genuine 21st-century global metropolis by better connecting the city centre to the suburbs by adding 200km of new railway lines. Overall, Grand Paris will not only stimulate businesses and the real estate market in the centre, but it will also make it easier for business visitors and tourists to navigate the city and region’s various business districts.

Paris has been chosen to host the 2024 edition of the Olympic and Paralympic Games which will have a positive effect on the economy and the central property market. According to the CDES, hosting the Games could generate €10.7bn in economic benefits whilst creating a further 250,000 jobs in the Île-de-France region.

A major economic hub

Paris is home to the largest purpose-built business district in Europe and the fourth most attractive international business destination in the world: La Défense. Spanning 1.6 square kilometres and comprising 3.5 million square metres of office space, many major international brands have set up an office here, including 15 Fortune Global 500 companies.

With 180,000 employees based at La Défense and many UK companies seeking to move some of their activities out of the UK now that Brexit has been actioned, this business district is set to become even more attractive over the coming years and this will increase the demand for both rentals and properties for sale in Paris.