Spotlight on France's prime second home hotspots
Knight Frank's new Prime France Report takes the pulse of France's major second-home destinations, from Paris to Provence.
1 minute to read
France’s appeal needs little explanation, it remains Knight Frank’s number one market for lifestyle purchases and the country’s second home hotspots rank high on the wish lists of the world’s wealthy, but its appeal extends beyond its climate and cuisine.
For highly mobile international buyers France offers good transport links, excellent international schools a transparent legal system and according to the UN’s World Tourism Organisation it is the most visited country when ranked by tourist arrivals – providing a ready source of rental demand.
France is now home to over 610,000 millionaires, the sixth largest concentration of any country globally according to data from GlobalData Wealth Insight. This number is forecast to increase by 22% over the next five years, meaning a new millionaire will be created in, or move to, the country every three hours between 2018 and 2023.
President Macron’s revised wealth tax, which now applies solely to real estate as opposed to all financial assets may yet boost this number further. This, combined with recent labour reforms, has done much to signal a pro-investment stance to wealthy entrepreneurs. Furthermore, with low interest rates still holding, and the ECB hinting further reductions may be on the horizon, more buyers are seeking to take advantage by leveraging their asset to minimise their tax liability.
The new Prime France Report offers a guide to the latest trends evident across each of our prime markets in France, we assess past performance, current market trends and look ahead at some of the transport projects and events that will shape these markets over the next five years.
Download the Prime France Report to read our analysis for each key region or view a selection of exceptional properties in French View
For more information please contact Kate Everett-Allen