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Hollande Unlikely to be Re-Elected - Paris Property Booms

Posted on: 31-Aug-2014

The general consensus in France is that François Hollande will be replaced as President in the next elections in 2017 and the French property market has gained momentum as a result.

Hollande's term has been blighted by a continuing popularity contest between him and former president Nicolas Sarkozy, having been described by some as the most unpopular president in modern French history.

Foreign investors in French property are increasing in number, taking advantage of low property prices in the eternally-popular Parisian market . Hollande has been widely criticised for raising taxes in the country, adding to his unpopularity and leading to the widespread view that he will be replaced in 2017.

Regional Manager of Home Hunts luxury property specialists, Hervé Lévy says: " Our savvy investors know that President Hollande will not be re-elected and the right wing are more than likely to come back to power - whether this be Sarkozy again or another leader. This is likely to encourage property investors back again and so it is really the time to buy now; whilst better prices can be negotiated and there are really amazing apartments and mansions on the market ".

" Home Hunts also has quite a few clients from the gulf countries as they want to have an apartment in Paris for the summer to shop and because of the cool weather. The Lebanese also like to invest in Paris for political reasons and because they speak French. Some of them also want that their children attend French schools and universities as some did themselves when they were young. "

Paris has long been an aspirational place to invest in property, being renowned for its excellent schools, affluent residential areas and sophisticated lifestyle. The cost of living in the city is very high relative to the rest of Europe and in that respect, property investment in Paris remains largely the domain of the ultra-rich.

However, property prices in Paris have shifted significantly downwards particularly in the popular 8th, 16th and 17th arondissements where prices are the lowest they have been for several years.

Article by +Peter Mindenhall on behalf of Propertyshowrooms.com

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