In Paris, the cost of living has hit a new high. Now, the average rent for a furnished apartment has skyrocketed to €1,725. This steep increase is making life in Paris tough for many.
Rising Rents in Paris
Life in the City of Light is no longer affordable for many. The Paris Area Rent Observatory reports a near 16% increase in rents over the past decade. In early 2019, the average rent was €18.30 per square meter. Although we saw a slight drop in March 2023, rents have mostly been climbing.
Ivan Thiébault from LocService explains, “The health crisis lessened the demand, easing market pressure. Rents in Paris even started to fall. But that didn’t last long.”
By 2024, rents had surged again, reaching an average of €31 per square meter. Factors like the situation in Ukraine influenced this rise.
Unprecedented Highs in Paris Rents
In 2024, renting a furnished apartment in Paris cost an average of €1,725.
Post-COVID, we’ve seen a steady rise in rent prices.
Limited land availability and higher living costs play a part. More demanding housing standards, like parking and elevators, also drive up costs.
The Strain on Renters
The constant rise in rent is hitting tenants hard. Many find their rent increasing faster than their paychecks.
The high cost of living in Paris is challenging for both landlords and renters.
Views from Real Estate Experts
Real estate agents are feeling the impact too. Higher rents might mean more income at first.
But over time, they worry. Steep rents could narrow the market, pushing out those who can’t afford these costs.
Sources:
- https://immobilier.lefigaro.fr/article/la-hausse-des-loyers-encadres-a-paris-a-quadruple-en-1-an_e2dfecd0-0b84-11ee-bd34-f2c2eadd1748/
- https://www.capital.fr/immobilier/location-les-loyers-ont-ils-flambe-en-ile-de-france-avec-linflation-1463034
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