Rule relaxations put verve back in Paris but doubts persist

Relaxations of Covid precautions have brought a change of sentiment in Paris according to Europa Capital partner Andy Watson, who is based in the French capital.

The notable difference is the reopening of restaurants, bars and brasseries. “It’s brought the soul back, there’s a real buzz in the air. After the Fête de la Musique annual summer solstice event, at five in the morning on the Champs-Élysées, people were still partying,” Watson said.

However, talking to Real Asset Insight’s Richard Betts, Watson added that some apartments at prestige addresses in the city centre are not letting quickly and there are also concerns because some people are still working from home and eating at home.

While efforts are underway to increase people’s sense of well being and encourage them to return to the office, longer term ESG requirements could mean that some sort of retrofitting or change of use will be necessary for around 10 million sq m of space over the next 10 years.

Click on the video above to watch the full interview or listen to the podcast below.