Paris furnished rentals barometer – 2018 first quarter

In Paris, rents for furnished rentals increased slightly during the first quarter of the year: on average €36.71 per square metre, that is +1.1% compared with the same period in 2017. At the same time, the IRL (rental reference index) increased by 1.05% in a year. The price of furnished rentals is therefore following the market trend.

73% of stays were for 9 months or less

In the first quarter of 2018, three quarters of requests for furnished rentals received by LODGIS were for 9 months or less: 37% were looking to rent a property for 3-6 months and 26% for a stay of 1-3 months. The introduction of the mobility lease will respond to this high demand, especially for professionals on business trips or in training and students, whether they’re in higher education, doing an apprenticeship or an internship.

French tenants took 1st place

At the beginning of the year, nearly 35% of people renting furnished properties in Paris were French. The French clientele took the lead in front of European clients, who represented 33% of tenants.

It’s also worth noting that visits by Europeans and North Americans have increased by 2 points, proving that France has regained its appeal. This increase in the number of visits echoes the latest report from Business France, which announced an increase of 16% in foreign investments in France compared to the previous year, with the USA returning in first place for investors.

« The renewed confidence for foreigners investing in France is clearly accompanied by an increase in job mobility. Furthermore, by 2023 there should be more than 200,000 additional students in higher education in France. Given these circumstances, the demand for short term furnished rentals will continue to grow. The government has understood this and today, with the mobility lease, is looking to further control these short term rentals in order to secure relations between landlords and tenants while avoiding abuse. Providing that it is balanced, this new lease should therefore be widely used in the future. » says Maud Velter, Associate Director of LODGIS.

Read more:

• Furnished Rentals in Paris: What are foreign residents looking for?
• Furnished Rentals in Paris: 2017 Barometer
• Changes to the real estate tax system in 2018 : Stability despite a few modifications
• Maud Velter's analysis of the implementation of registration numbers for furnished rentals for tourists in Paris from the 1st December

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