In 2010, the commercial property sector in France is comfortably outperforming the previous year, new research from Savills has found. In a trend which is reflected in the majority of countries around the world, the commercial market is currently very strong.
The property consultant explained that a "combination of a good supply/demand balance and increasing household spend" meant that investors were attracted to the sector. In total, investors have spent a EUR2.5 billion on retail property in France, a figure which is up 247 per cent compared to 2009.
Christophe Gouny, head of Savills retail in France, said that the firm had seen a big jump in confidence among buyers in the country so far this year.
"French household spending has remained positive with 1.2 per cent annual growth and a three per cent rise in shopping centre turnover. With rental supply and demand levels remaining relatively balanced, rents reflect this and therefore the investors are keen to buy into this market," he added.
- Monday 22 November 2010