these bankers from London who boosted prices in western Paris


By Jorge Caro

Posted
,

Update

The typical profile of these wealthy French or foreigners? Often forties with children and a budget between 3.5 million euros and 5 million euros. neirfy / stock.adobe.com

Following Brexit, 5,500 finance professionals settled in Paris. These customers with large budgets prefer green spaces and proximity to the best schools.

The Brexit effect continues to animate the real estate market in the chic districts of the capital. Nearly 5,500 bankers have landed in Paris in recent years, with major Anglo-Saxon banks having strengthened their presence in the French capital (JP Morgan, Bank Of America, Citi, Goldman Sachs, etc.). And if the phenomenon has slowed down in recent months, it has not died out. Morgan Stanley announced in May its intention to reach 500 employees in Paris by 2025, or 200 more jobs than today. In addition, some bankers, who had been renting since their arrival in Paris to see if the area suited them, are now looking to buy.

These newcomers are demanding customers with strong purchasing power. “In general, they are looking for the beautiful”, summarizes Olivia Castaing at the head of a Junot agency in the 16th arrondist, which has just sold a large family home in the 16th arrondist to a Frenchman who has left the City. A 270 m2 apartment, located…

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