Life in France can be a wonderful thing. Who wouldn’t want to live in a country so well-known for beauty, romance, and exceptional cuisine? France prides itself on education, especially in the arts and sciences. Whether you like the hustle and bustle of big city life or you prefer some quiet country real estate, France has something for everyone.
Living in France means you will need a job, which couldn’t be easier when you consider that many of the world’s largest companies are located in Paris. Jobs are plentiful in Paris, which produces one quarter of the GDP of France and is home to 38 of the Fortune Global 500 companies. Paris also hosts many international companies in several business districts including La Defense, the largest purpose-built business district in Europe. Outside of Paris, jobs abound as well. Much of the country is involved in heavy industry, mining, manufacturing, and shipping. And if all else fails, you could always land a job with one of the millions of wineries and vineyards across the country.
The people of France, all 62 million of them living in mainland France, all need some France real estate as well. Building codes and development restrictions in the city of Paris have resulted in a real estate explosion into the suburbs of Paris and neighboring regions. The current global economic crisis has had surprisingly little effect on the real estate and housing market in France, with no downturn visible at all except during this most recent quarter where a slight decline in housing sales is materializing. A 5% drop in home sales in France this past quarter is following a 2% increase from the previous quarter. The minimal drop in real estate compared to the rest of the world still isn’t affecting the multifamily sector, which saw a significant rise of 7% this quarter. The office and industrial real estate markets in France are wholly unchanged quarter over quarter this year.
