Private rented sector specialist Greystar has built a pipeline of development opportunities in France to meet the strong demand for housing, Hideki Kurata, managing director of the company's new French platform, told PropertyEU at Mipim 2019.
'From a housing perspective, there's a huge deficit in France generally. The biggest gaps are around the larger cities and Paris is first among those but it's also the case for other cities like Marseilles and Lyon,' Kurata said.
'If you take the deficit for just Paris, there's going to be 200,000 units missing over the next 10 years and that gap is even bigger for students which is also a sector we focus on. We're talking about 250,000 units that are missing for students over the next 10 years for Paris alone,' he noted.
Greystar opened an office in Paris six months ago and the company is 'very much in growth phase', Kurata said. 'We've built a pipeline of development opportunities for around 5,000 beds over the next three years.'