Page 0046

The fiscal reforms of newly elected French President Emmanuel

Macron will encourage further investment in the French housing

sector, so experts say...

previous year. This is a jump of

7.7% and the chart opposite

shows the annual progression

since the turn of the century.

The market collapsed when

the 2007/8 crise financiere arrived

and reached it's nadir

when Lehman Brothers filed for

bankruptcy in September 2008.

However, it's clear that the market

has turned and we are on an

upswing that is likely to last for

a good few years.

House prices have increased

by around 1.5% over the last 12

months and Leggett are forecasting that

the national rise in

2017 will be around 3-5%. Of

course, some areas are seeing

price growth well above this

whilst rural areas will not see

the same increases we see in

Paris, Bordeaux, Lyon and other

areas.

President Macron came

to power with a liberal but

pro-business programme. He has

said that he wants to exempt

around 80% of households

from Taxe d'Habitation and it's

likely that his fiscal reforms will

encourage further investment

in the French housing sector.

We don't have a crystal ball so

at time of writing we can only

guess, but it is pretty clear that

he wants to help entrepreneurs,

and funding a property purchase

may well be central to this. The

self employed could well be able

to tap into the historically low

mortgage rates enjoyed by salaried employees

across France.

A healthy domestic market

will prove attractive to international buyers

too. At Leggett Immobilier our

sales support team

are receiving around 8,000 new

enquiries each month, from all

corners of the world.

The double whammy of low

prices and cheap financing is

proving most attractive and our

sales to buyers from the USA

have increased considerably,

helped by the dollar/euro exchange

rate.

Demand from the UK also

O

UR NEWLY ELECTED

President, Emmanuel Macron,

hit the

world stage running last

May when

his "tug of war" handshake

with Donald Trump made global headlines.

His firm grip and

presidential demeanour could

well have given us an excellent

insight into how the country will

be run over the coming years. At

39 years of age he will certainly

have the energy to push through

his ambitious (pro European and

business friendly) plans. Macron

plans "to attract talented professionals

and jobs to France"

and whilst we're unlikely to see

revolutionary policies they do

seem to be positive.

He has certainly inherited a

healthy and flourishing property

market. The Notaires de France

tell us that last year saw a "dynamic" property

sector. Their

latest research shows 867,000

sales in the last 12 months,

compared to 805,000 in the

PHOTO: FREDERIC LEGRAND - COMEO

46 LEGGETTFRANCE.COM

EN-MARCHE!

Graham

Downie is the

CEO of Leggett

Immobilier

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