Heard on
France will only get more interesting
- Tom Smedley, Managing Director & Head of
European Private Equity, Heitman
Covid-19 and the European Green Deal are accelerating the need for PropTech solutions
- Dirk Paelinck, Chairman, European PropTech Association
Second French lockdown: a tax credit for landlords who will cancel part of their business rents Following the announcement by French President Emmanuel Macron of a second lockdown in France, the government is rolling out a tax credit for landlords who will can- cel part of their business rents. We will introduce, from the finance bill for 2021, a tax credit to encourage landlords to cancel part of their rents , explained the Minister of Economy, Bruno Le Maire. We will introduce a tax credit
to encourage landlords to cancel part of their rent. Any landlord who, over the three months of October, November, and December, agrees to waive one month s rent, will be able to receive a tax credit equivalent to 30% of that rent. The companies concerned are those with less than 250 employees that are administratively closed or belong to the hotel, café, restaurant, and cultural sectors .
Antoine Derville appointed CEO of Colliers International France and Belgium
No recovery in sight for France s housing construction - FPI
Antoine Derville has been appointed CEO of Colliers International France and Belgium. He succeeds Gilles Betthaeuser, who becomes Chairman and will remain active at Colliers France. Antoine Derville built his career at Ernst & Young, then at Auguste Thouard, which became BNP Paribas Real Estate in 1987. He joined CBRE in 2001 as Director of the Île-de-France branch, which he created in its entirety, adding the office and logistics departments. In 2013, he was appointed Chairman of DTZ France, which merged with the Cushman & Wakefield group in 2015. As the two companies will be merged under the single Cushman & Wakefield brand, Antoine Derville was appointed head of the new entity. In 2018, he joined Cushman & Wakefield s EMEA Executive Committee.
Statistics on building permits (BP) and housing starts (HS) in France at the end of September confirm a fall in construction, reports French developers association FPI (Fédération des promo- teurs immobiliers), according to which the drop in construction predates the epidemic. «In mid-2017, over 12 months, 500,000 hou- sing units were authorised, including 300,000 collective housing units, reports the Federation. By mid-2020, over 12 months, we were down to 400,000 authorised housing units, of which 240,000 were collective.
In three years, we therefore lost 100,000 BPs a year, 60,000 of which were in collective housing. According to the FPI, the strong rebound in HS (+42% compared to Q2) is only apparent because activity came to an abrupt halt in Q2. The federation observes the same rebound in the PCs (+43.6% compared to Q2), but it only brings activity back to the level of September 2019: there is therefore no catch-up effect, despite the easing of lockdown measures in the summer and the completion of the electoral cycle.
Gecina raises its objectives for 2020
Observing in its Q3 2020 results an impro-vement in the group s visibility in the context of a disrupted year 2020 as well as a confirma- tion of its resilience and operational adaptabi- lity , Paris-based REIT/SIIC Gecina has raised its net recurring profit targets for 2020. The group now expects its net recurring income per share in 2020 to be 5.70, thus placing it at the top end of the range communicated in July when the half-year results were publi- shed (between 5.55 and 5.70). © DR
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58 | Magazine Business Immo #170 Novembre 2020
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