London vs Paris

London and Paris represent two of Europe's most prestigious property markets, each shaped by distinct forces. London's market is driven by global finance, with areas like Kensington and Mayfair commanding some of the highest prices in the world. The city's leasehold system, stamp duty at up to 12%, and recent regulatory changes have cooled speculative investment, pushing buyers toward outer boroughs.

Paris, on the other hand, benefits from France's strict rent control laws (encadrement des loyers) and notarial fees averaging 7-8% of the purchase price. The city's compact 20-arrondissement layout means price variation within the city proper is dramatic — the 6th arrondissement can cost three times what the 19th does. Post-pandemic, Paris has seen a correction from its 2020 peaks, making it relatively more accessible than during the height of the market.

For expatriates, London offers English as the business language and a more liquid rental market, while Paris provides superior public transport, healthcare, and cultural infrastructure at lower overall living costs. Both cities face similar challenges: limited supply, aging housing stock, and growing demand from international buyers.

From an investment perspective, London yields tend to be lower (2-3% gross in prime areas) compared to Paris (3-4%), though London offers more flexibility with shorter lease terms. Currency risk is a key factor for cross-channel investors — the GBP/EUR rate has fluctuated 15% over the past five years.