Brainsre compiles below the weekly news highlights.
- Real estate professionals express disappointment and concern over delayed conclusions on housing issues, addressing an open letter to the President of France.
- The letter emphasizes the urgent need for government action to address the housing crisis and prevent further economic and social consequences.
- The professionals call for clear and ambitious presidential intentions, concrete measures, swift implementation, and adequate financial resources, including banking solutions, to stimulate the sector and meet the housing needs of the French population.
Residential – Residential Investment Q1 2023
- The ImmoStat group, formed by real estate companies, expands its market monitoring to include residential investment operations in France, aiming to enhance market transparency.
- Collaborating with residential market partners, ImmoStat introduces the “residential investment amount in France” indicator to measure the volume of residential assets acquired for financial returns.
- In the first quarter of 2023, residential investments in France declined significantly compared to the same period in 2022, with a decrease of 83% in total investments and 88% in traditional and intermediate residential assets. Managed residential assets also saw a decline of 51%.
- The Hotel de Lannion, located in Paris’s 7th arrondissement, was sold for 47.95 million euros in one of the most significant private mansion transactions of the previous year.
- The mansion offers a prime location, spacious area of 1000 square meters, rich historical background, and a discreet setting, making it highly desirable.
- The buyer, Valérie Taupin, a French entrepreneur who made her fortune in cosmetics, purchased the property from Tony Fadell, a former Apple executive. Fadell had acquired the mansion in 2019 and sold it for a 40% profit after three and a half years of ownership.
- “Millésime,” located in the heart of Issy-les-Moulineaux, will offer 4,500 square meters of office and service spaces, including accessible terraces on each floor and a 240-square-meter rooftop.
- The existing commerce on the ground floor, including an independent wine shop, will be preserved and integrated into the new building, along with the vineyards and a restaurant at the rear.
- The development is strategically located near transportation hubs, including the RER C and the T2 line, with the future delivery of the Line 15 South of the Grand Paris Express in mid-2025. It aims to achieve ambitious environmental certifications and will be completed in the second quarter of 2025.