Brexit should materialize on March 29th and it would seem that this event is beneficial to the French market. In Paris, the number of real estate ads viewed from the United Kingdom increased by 75% over the last 3 months.
Real estate: France is the big winner of the Brexit!
As Brexit approaches, it seems more obvious that this event will have a considerable impact on the French real estate market. Indeed, while Brexit is officially scheduled for March 29, more and more British, but also French expatriates and nationals of other European countries, are already seeking to join France, even before the United Kingdom’s exit from the European Union is recorded. For example, at SeLoger, in the fourth quarter of 2018, we saw an exceptional increase in the number of ads viewed online from the United Kingdom. The real estate markets in Paris Region and Paris benefit most from this “Brexit effect”. For example, for housing located in the Île-de-France region, there has been a 17% increase in visits from the United Kingdom. In the capital, the increase in visits has even reached 75%. We have also seen a similar increase in other French regions, particularly in PACA (Provence-Alpes-Côte d’Azur) and especially in Nord-Pas-de-Calais.
Brexit: the great return of French expatriates to the Île-de-France region
This British appetite for French real estate can be explained in particular by their fear that real estate transactions in France will become more complicated after the United Kingdom leaves the European Union. It should be noted that 55% of the ads viewed by visitors from the United Kingdom are located in the Île-de-France region. For its part, Paris represents 28% of the real estate ads consulted from England. These figures can be explained by the early return of many French expatriates, seeking to leave the City to join La Défense or other business districts in the Paris region, before the Brexit was set up. SeLoger’s figures fully echo a recent study by Barnes, which found a “migratory phenomenon towards France” in the prestigious real estate market, following the British vote. Thus, in the second half of 2018, 5 to 10% of luxury housing sales in central districts were made to French people returning from London and Europeans from London moving to Paris.