NEWS PARIS SHRINKFLATION? RATE RACE T


he population of Paris appears to keep shrinking as the cost of living in the capital


continues to rise. According to new data from national statistics agency INSEE, the number of residents of the City of Light has been dropping by 12,000 people per year since 2015, as reported by RFI radio. The numbers revealed that 73,377 Parisians left the city between 2015 and 2021, which represents an average drop of 0.6% over the six-years. While much of the blame has been


laid at the feet of the pandemic, actual figures indicate that the decline remained steady during that period, with 12,795 Parisians moving away over the first year of the health crisis. It is likely that there is a combination of factors at play in such a sustained trend. In a recent survey by Villes


et Villages ou il Fait Bon Vivre, Thierry Saussez, president of the association that publishes the report on quality of life across 34 820 towns in France, said that “more and more French people are looking


for a new way of life, and are turning to towns on a human scale”. INSEE data conversely showed that the Île-de-France region surrounding the French capital has grown increasingly attractive as it steadily gains residents. RFI said that the population drain reflects ongoing issues in the city such as a lack of nature, transport problems, expensive rent and the rising cost of living. It is not surprising then, that according to Le Parisien, it is young people who are most disenchanted with Parisian living.


WHAT’S ON IN MARCH/APRIL 2024


The rise in mortgage rates, which are at their highest level since 2009, is largely linked to the rise in European Central Bank rates, which are intended to combat inflation. The average rate plateaued at 4.2% in the last three months of 2023, Le Figaro reported, citing data from Crédit Logement. Not surprisingly, the number of loans granted by lenders continued to drop, according to the figures cited in the report. It’s hard to reconcile with the fairly recent figures from the spring of 2022, when the average mortgage rate was barely hovering above 1%.


22 MARCH-22 SEPTEMBER NORMANDY IMPRESSIONIST FESTIVAL The 5th Normandy Impressionist Festival will mark the 150th anniversary of the celebrated 19th-century art movement, with exhibitions, contemporary installations in public spaces and performing art, paying homage to artists like Monet, Renoir and Degas, as well as to Normandy itself. normandie-impressionniste.fr


UNTIL 19 JUNE PORTE DE VERSAILLES, PARIS JOHNNY HALLYDAY EXHIBITION Immerse yourself in 3,000m2 of installations that relive the life of the iconic French singer. Discover thousands of archive images along with Johnny’s stage costumes and guitars, and a recreation of his secret office, plus a mini-concert featuring many of his greatest hits. A moving tribute. johnnyhallydaylexposition.com


12 FRENCH PROPERTY NEWS: March/April 2024


EARLY MARCH SOUTH OF FRANCE FESTIVAL FUN Two spectacular events taking place on the French Riviera are the Nice Carnival and Menton’s Fête du Citron. Don’t miss the flower parade, parade of lights and the closing ceremony from 2-3 March in Nice, while over in Menton, the final Corso des Fruits d’Or lemon parade takes place on 3 March. nicecarnival.com fete-du-citron.com


5 APRIL - 23 JUNE NIMES, HERAULT CONTEMPORAINE DE NIMES: A NEW YOUTH Nîmes is launching a new contemporary art triennial, the first of which will focus on today’s youth, its concerns and relationships with preceding generations. A major multidisciplinary exhibition will take place across the city, along with performing arts events and artists’ residencies. contemporainedenimes.com


©SHUTTERSTOCK


©SHUTTERSTOCK


©VIVIANA CEBALLOS _ PEXELS


© MOHAMED HASSAN _ PIXABAY


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