French property market boosted by Macron

Posted on 05 June 2017

As President Macrons settles down to his first few weeks as the French president, his victory looks like good news for prospective property buyers in France.

Emmanuel  Macron’s stint at the top is still very much in its infancy. So much so that the new president isn’t even in a position to properly govern the country, let alone set about establishing his planned policies. He will only be able to do so if he wins a parliamentary majority in the upcoming legislative elections. Only after these votes – on 11th and 18th June – will we truly be in a position to predict the likely effect of his presidency on the French property market. That said, recent polls point towards another massive victory for France’s youngest leader since Napoleon in the next few days, ensuring the country adopts his centre-right agenda.

Some of his better known policies will impact overseas property buyers in France. Potential home owners will be pleased to hear that he is proposing 80% of households will be exempt from paying taxe d’habitation. If you’re panning to employ people – as many of us do running smallholdings or small businesses – the proposed reduction in the social charges on salaries of employees will be welcome indeed.

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If Mr Macron earns the requisite power to implement his policies, the domestic property market is likely to benefit. Increasing numbers of French people will be willing to invest in property and corporations will be encouraged to bring their businesses to France. While international property purchases are likely to increase thanks to his strong desire to maintain a unified Europe.

Taking all of this into account it’s reasonable to assume that increasing numbers of UK buyers are going to want to invest in property in France; particularly when we consider that there is a clear upward trend in prices generally across the land (on average 1.6%) according to the Notaires de France’s latest figures for the first quarter of 2017.

If we add a resurgent pound – potentially after the general election – and low interest rates to the mix, now really could be one of the best times ever to buy property in France. Most British people buy in France because they love it, not necessarily for investment. The tide appears to be turning though and it may very well be that buying a property now will prove not only to be a strategic move from the point of view of price but also to be an excellent investment as the years go by.

For a step-by-step guide to buying a property in France, download the France Buying Guide by clicking here.

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