French president Emmanuel Macron’s recent call for a snap election has sent shockwaves through the political landscape. As foreign investors in French real estate, you’ll want to know what’s at stake and how it might impact your purchase or new life in France. Let’s break it down.
The Tricolour beneath the Eiffel Tower
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Why the Snap Election?
After the European Parliament elections, where far-right parties gained ground across Europe, Macron made a bold move. His centrist party suffered a crushing defeat, while Marine Le Pen’s National Rally doubled their votes. Faced with this surge of right-wing influence, Macron hopes to regain control by calling for a snap legislative election.
The key parties and their policies
Macron’s centrist alliance: Macron’s party represents the centrist bloc. Their policies focus on economic reforms, climate action and pro-European integration.
National rally (Rassemblement National or RN): Led by Marine Le Pen, the far-right RN advocates stricter immigration controls, nationalism and Euroscepticism.
Other parties: Various left-wing and right-wing parties will also compete, but politicians believe the main battle lies between Macron’s centrists and Le Pen’s RN.
In early June, Macron asked mainstream parties to ally in a bid to halt the rise of Marine Le Pen’s far right. Socialist party secretary, Olivier Faure, said it was “totally illusory” to think the left would sign up to Macron’s programme.”
The French government in Paris, the Assemblee Nationale
What will happen and when?
The snap election will take place in two rounds: June 30 and July 7.
To qualify for a run-off, (aka the second round of elections), a candidate needs to win the backing of 12.5% of registered voters. The results from last week’s European parliamentary election suggested RN would come first with 362 seats and the left would come top in
If Macron’s centrist alliance secures a clear majority, stability may return. However, if the RN wins, it could be the first time the far-right has led the French government since World War II.
Speaking to the Financial Times, political analyst and pollster, Mathieu Gallard said, “It’s impossible to predict what the results will be but given the RN’s high scores you cannot entirely dismiss the scenario they win an absolute majority. Then Macron’s gambit will have totally backfired on him.”
How could that affect property buyers?
While the election won’t directly affect property ownership, a stable government can boost investor confidence. Keep an eye on policy changes related to taxes, regulations and housing market stability.
As the French head to the polls, the outcome will shape the nation’s trajectory. For foreign property buyers, a stable government is crucial for long-term investments. Stay informed and watch how this election unfolds.
How do elections in France work?
There are 577 constituency contests, one for each seat in the National Assembly (Assemblée Nationale). Candidates with an absolute majority of votes in their constituency are automatically elected in the first round – in this case, June 30th.
This is uncommon and constituents will normally need a second round to gain an absolute majority. This is referred to as a run-off. To qualify for the run-off, candidates need to accumulate at least 12.5% of registered voters.
Then, the top scorer wins the second round. An absolute majority requires at least 289 seats.
You might also like:
- Learning French for property buyers
- Le Pen or Macron, who’d be better for France? (2017)
- The “tiny homes” initiative and why it’s a good time to buy in France
