Where 2024 was the year of rebound for many European real estate markets - investment volumes rebounded by 20% in Great Britain and 15% in Germany, according to data from BNP Paribas Real Estate - France did not enjoy such buoyant momentum. Political instability crystallized by the dissolution of the French National Assembly in the summer, a budget deficit that is worrying for the country's financial situation, geopolitical and macroeconomic tensions exacerbated by Donald Trump's return to the White House... The clarity so long hoped for by real estate professionals at the start of last year, after two years of soaring inflation and rising interest rates, has not materialized, and many questions remain within the French real estate sector, all the more so as its various asset classes continue to undergo multiple transformations.