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Greater Paris showing great promise

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Investment in Greater Paris is blossoming, according to latest figures from France.

Property investment in France as a whole has been strong in recent times and the results from the country's capital back up this trend, suggesting it is set to continue into the foreseeable future.

Like London in the UK, France's capital appears to have been driving the country's economy over the past 12 months. The research released by Thierry Jacquillat, chairman of Paris-Ile de France Capitale Economique, revealed that investment in greater Paris increased by 44 per cent over the course of 2005.

That translates to a record €17.5 billion of investment in the country during the course of 2005, highlighting the fact that Paris and France remains a popular destination for investment.

Speaking at the Advantage Greater Paris: New Opportunities in Finance & Real Estate seminar in the capital, Mr Jacquillat explained: "We are bolstering the attractiveness of Greater Paris by lobbying political and economic decision-makers from around the globe."

The moves to engender more growth in the French market have clearly been paying off over the past year and current levels of investment look set to continue as Paris aims to redevelop itself to remain a modern city. Therefore, those investors considering where to put their money would do well to look to the various regeneration initiatives which are currently underway in Paris as a potential source for good returns on their investments.

Paris is also ahead of London in terms of the amount of office real estate which it has available. With 48 million square metres of available office real estate, the city is behind only Tokyo in this availability, far outstripping the majority of its European counterparts, even in emerging real estate investment countries such as Bulgaria.

Paris compares particularly well to the likes of Moscow, which has recently been revealed as having the lowest rate for high-end office space in Europe.

France's potential as a destination for property developers was recently highlighted by developer Trisha Mason, who pointed to the fact that while emerging markets can often be attractive, they often have "no clear exit strategy". As such, properties in areas such as France, where there is usually far more security, can often prove at least as valuable an asset as a property in an emerging market like Bulgaria.

That certainly appears to be the case as the interest and demand for property in Greater Paris continues to drive the French property market overall.

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