While the Observatoire Clameur has revealed that rent prices of unfurnished rentals have slightly declined by -0.6%, Lodgis, an estate agency specialised in furnished rentals in Paris, has announced in its latest barometer that there has been a slight increase of +0.6% in the rent prices of furnished rentals in Paris in 2017 (-0.4% for the first eight districts and +1.8% for the 9th to 20th less central districts). Furnished rentals are therefore doing well, and have been for the fifth year in a row (+0.36% between 2012 and 2013, +0.17% from 2013 to 2014, +0.63% in 2015 compared to 2014, +0.4% between 2015 and 2016 and +0.4% in 2017 compared to 2016).
This virtual stability in the furnished rental market in Paris should carry on in 2018. In fact, the new Finance Act of 2018 will not have an impact on favourable taxes for furnished properties. Furthermore, many landlords, who until now rented their furnished properties to tourists, should turn to more traditional furnished rentals in order to avoid the mandatory registration numbers demanded by the Paris City Council since 1st December 2017.
Despite the recent cancellation of rent caps in Paris, the conditions are therefore linked so that the supply of furnished properties being rented will increase in 2018, leading to stable rent prices.
It is also worth noting that professionals travelling for business (45.2% of tenants renting furnished apartments in Paris) and students (37.4%) are also still attracted by furnished rentals for their stay in the capital.
On a geographic level, there are still lots of French and European people each representing nearly a third of tenants renting furnished properties in Paris (31.1%). Followed by Asian tenants (11.2%) and then North American tenants (10.9%).
Finally, and unsurprisingly, it is small furnished properties which are the most popular rentals in Paris: studios (47.5%) and one bedroom apartments (39.7%) are particularly suited to the needs of professionals travelling for business and students.
You can find all the results of Lodgis’ furnished rentals in Paris Barometer for 2017 (in French) on the Lodgis website.