One of the world’s top real estate firms, JLL, has placed Paris in the Top 7 cities for property investment.
But if you’re already an owner of property in the city, or are planning to be, what does JLL’s ranking mean for you?
The Big Seven Established World Cities
When it comes to real estate, JLL’s report now puts Paris in the top alongside New York, Tokyo, London, Hong Kong, Singapore and Seoul.
They recently referred to these destinations as the ‘Big Seven Established World Cities’..Based on the firm’s own research, these cities “have accounted for over one-quarter of the overall real estate investment activity across the world in recent years.”
The current property landscape
The past few years has seen many current events affecting the global real estate market. In Europe, the Brexit referendum has caused uncertainty to investors. While further afield, the election of Donald Trump in the US, and political tensions in Asia have all had an impact too.
In the past, property investors would look at a rigid set of criteria to guide their decisions. Things like the cost of living in the city, economic performance, and quality of life. But as this new data shows, in the modern world, things are more sophisticated.
Future proofing investments
Now, other factors are at play. Such as how ‘future-proofed’ a city is, what global brands make their home in the city, and what opportunities they offer for other companies and professionals.
It doesn’t end there. Other data analyzed could be a city’s capacity to grow economically, and even its residents’ sovereign wealth and pension funds.
This set of criteria is not exhaustive. As further advances are made, even more factors will be added into the indices. Even climate change, and how a city would cope with its effects, has been suggested as a hot topic for future investors.
On hand to help
At 56Paris, we believe this ranking reinforces Paris’s position as one of the world’s top cities to invest in real estate, whether it’s commercial or residential properties.
If you’re looking for advice for your own property investments in Paris, don’t hesitate to contact our experts for a chat about your needs.
Photo credit: Benh Lieu Song