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While the first months of 2021 were synonymous with a nuanced recovery for traditional furnished rentals, Lodgis, market leader in Ile-de-France and present at the national level (in particular Lyon, Bordeaux and Toulouse), unveils its barometer for the third quarter of 2021. The start of the school year, a key period for long-term furnished rentals, brings color back into the market.
Among the highlights:
“We are delighted to see that the start of the school year, a pivotal period for our field, confirms the recovery that has initiated in recent months. The indicators are there that show that the market is recovering. This makes sense as it is at the start of the school year that students and professional mobility projects resume. The market was less impacted by the health crisis and the third quarter seems to be synonymous with a return to normal.
In concrete terms, this translates to an increase in demand: throughout the summer, it has recovered (-20% in July, + 7.5% in August and + 35% in September) to show an increase overall of 5% over the quarter compared to the last reference year: 2019.
Logically, the face-to-face start of the academic year has a positive impact on our activity: students are the most numerous tenants this quarter (55%). The mobility lease is also on the rise: it represents 25% of leases signed versus 22% last year.
After more than a year of international student and professional immobility, we are observing the return of foreign tenants to France: Europeans are the most numerous (34% of leases signed), followed by tenants from North America (10%, or 3 points more than last quarter and last year).
Rent prices are also back to normal: despite a 2.7% drop for Paris compared to last year, rents are up 1.1% compared to the second quarter of 2021.
We remain cautious but hope that the recovery will be confirmed in the months to come, once the back-to-school effect has passed.”
Rent prices in Paris increased slightly in this third quarter: +1.1% compared to the previous quarter. However, this increase must be put into perspective with an overall decrease compared to last year: -2.7%.
After more than a year of mobility hampered by the health crisis, international tenants are back in Paris.
Lodgis notes a strong increase in European tenants, who now represent 34% of tenants, an increase of 6 points compared to the third quarter of 2020. They are followed by tenants from North America, who represent 10% of leases signed, or an increase of 3 points compared to last year.
French tenants are less numerous with a drop of 9 points compared to the previous quarter.
More than ever, students are back in Paris: they represent 55% of signed leases, an increase of 4 points compared to the third quarter of 2020 and an increase of 3 points compared to the third quarter of 2019.
Regarding professional mobility, it remains challenged and shows a slight decrease compared to last year: professional tenants represent 37% of the leases signed.
The average rental length is 235.8 nights for this quarter.
As of the start of the 2021 school year, the mobility lease is up 3 points compared to the same period last year. If it has not reached the level of 2019 (30%), it is approaching this level since it represents 25% of the leases signed this year compared to 22% last year.
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