FREXIT FEVER AVERTED AS MACRON MAKES HIS MARK

Well zut alors - in one of France’s most controversial presidential elections in decades, debonair candidate, Emmanuel Macron has finally emerged the Presidential victor - the former investment banker proving a worthy winner garnering over 66% of the votes.

From next week, France’s youngest president will be turning his attentions to reinvigorating la belle France’s ailing economy, investing €50bn in new technologies and energy as well as shaking up labour laws, expanding job training and encouraging start-ups. He plans to eliminate an unpopular housing tax, cut payroll taxes, and impose a 30% tax on capital.

So what plans might the new incumbent have in store for the property market? 2017 has so far, been fairly even keeled for the sector, despite the inevitable uncertainty surrounding the Election. Plans to review wealth tax to focus solely on property will no doubt motivate French owners to sell their properties, in turn creating increasingly more opportunities on the market for international buyers.

The new president has also pledged to support the construction industry while reducing government intervention, which will be particularly beneficial in Paris where there’s a housing shortage.

A staunch supporter of the EU – Frexit seems an unlikely pathway going forward.

If anything – Macron is likely to want to move towards greater integration and tax reconciliation, with more flexible budget-austerity rules imposed by Germany.

Of course, it’s still early days, with a few hoops to jump through to deliver the goods – for one, Macron needs to win a majority of seats in the Assemblee during the legislative elections in June. In the meantime, we can perhaps content ourselves with un tout petit peu de swooning at his liberal-left hotness.