Rents fall in the capital
In the capital, rents fell by 2.8% in 2014. The average rent price per m2 is €24.40/month. Paris’ ‘beautiful’ arrondissements boast the highest rents at around €28 per m2.
General state of the market
Paris’ rental market may be bending but it is not broken! According to the latest study from CLAMEUR, in 2014 the capital’s rental values appear to have reduced by 2.8% to €24.4/m2/month. This falls above the average value for the whole of the Île-de-France which is €21.50/m2/month, down 1.1%.
Note: Paris remains the most expensive city in France. In the country as a whole, two out of three cities are experiencing reductions in rents.
The Left Bank and the Marais
It’s in these historic and central Paris neighbourhoods that rents are always the highest, with significant annual variations:
4th arrondissement: 28 €/m2/month (-6.4%)
5th arrondissement: 28.9 €/m2/ month (-6.4%)
6th arrondissement: 28.4 €/m2/ month (-5.2%)
7th arrondissement: 28.1 €/m2/ month (-7.1%)
8th arrondissement: 27.1 €/m2/ month (-0.5%)
The study by CLAMEUR holds that rents in Paris are going down due to a decline in the residential mobility of tenants. This analysis highlights that this is a market under strain with demand outstripping supply. Planned in July last year, the new rental framework (see the article on “Rent Control”) ought to have an impact on the situation.