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Paris 2024: rental housing prices falling
Paris 2024: rental housing prices falling
(France 2)
Less than two months before the Paris Olympic Games, home owners who thought they would rent their property at a high price this summer are a little disappointed. Indeed, after soaring, prices collapsed.
They hoped for golden profits, some finally came back to earth. 60 days before the Olympic Games, housing prices are not reaching peaks. In Paris, a 90m² apartment between 350 and 550 euros per night is not yet reserved for the Olympic period. The reason ? The number of rental accommodations has exploded: from 65,000 in August 2023, to 130,000 for August 2024. Twice as many, even though demand is lower than expected according to professionals.
A year ago, however, some owners were downright slacking on prices. With for example, a night at 1,000 euros for a 56m² room. Today, a return to reality also for hoteliers. An establishment a stone’s throw from the Eiffel Tower has everything to please, but its manager has nevertheless had to revise its pretensions downwards. According to estimates, nearly one in two French spectators of the Olympic Games have not yet reserved their accommodation.
