A tale of two cities: London and Paris, Europe’s two mega-cities, power ahead
London and Paris stand alone in Europe as the continent’s truly global cities. They are not only leaders in terms of commerce, they are also world-renowned centers for politics, sports, culture, history, tourism, transport and education. All these factors influence the unique real estate needs of the two cities, shaping the urban environment while creating large, liquid markets that are able to provide opportunities for investors throughout the cycle.
The metropolitan areas of London and Paris dominate the economies of the United Kingdom and France. Both cities have experienced a period of economic outperformance in recent years (a growth trend that is forecast to continue), sustained by an expected population increase of about 1 million in Greater London and half a million in Île-de-France. The employment structures of the two cities are different from their respective national averages, with employment more focused in finance, business services and information technology