Alongside traditional assets of heritage and culture, Paris’s commercial environment makes it a top-tier global city
Despite a strong international standing, Paris hasn’t attracted the same volume of international money into its prime residential markets as London, Hong Kong and New York. Reliant primarily on domestic wealth, prime prices on a square-metre basis stand 32% below those of London, and 69% below those of Hong Kong. We believe this represents value on a global stage.
.png)
FIGURE 1Prime league 10-year change in prices (€/psm)
Source: Savills World Research
A global city with a diverse economic base, the Paris region generates 31% of France’s GDP. Host to more international HQs than London, the Paris region is the number one European region for R&D spend. It has a young, highly educated workforce and 663,000 higher-education students.
Paris’s built heritage is one of its greatest assets. Central Paris is a UNESCO World Heritage Site, while the Louvre is the world’s largest museum. Paris Gare du Nord is a strategic European transport hub, and the busiest railway station in the world outside of Japan.
France is the world’s most popular tourist destination, while Paris ranks third for international overnight visitors – after Bangkok and London. Following the terror attacks of 2016, international visitor numbers fell 8.8%, but domestic tourists were largely unaffected.
.png)
FIGURE 2Paris lies third on the Savills World City Ranking; scored on a city’s connectedness, competitiveness, power and performance
Source: Savills World Research
3 other article(s) in this publication
.png)