Updated 07/27/23 at 3:30 p.m.
THE housing Ile-de-France residents who will be put into short-term rental for the Paris 2024 Olympic Games could well generate extraordinary profits for their owners. The prices charged during the two weeks of competitions, from July 26 to August 11, 2024, are much higher than those observed during the same period in 2023, figures collected by the insurance broker Reassure me and relayed by The Parisian.
The median price to pay for a night is thus multiplied by 4, 5, or even more than 6 depending on the type of accommodation. It thus reaches 756 euros for a studio, or 5.6 times more than last year. For a two-room apartment, you will have to pay 829 euros per day, a multiplication by 6.4 in one year. Fans of sport wishing three rooms will pay a median daily rent of 1,209 euros.
The 16th arrondissement cheaper than Villepinte
This is five times more than the 239 euros to pay for a comparable home in 2023. The data gathered by the broker showed that the phenomenon did not only affect Paris. Fare differences between the capital and its suburbs will be strongly limited during the Olympic Games. The prices in Villepinte and Saint-Denis (Seine-Saint-Denis) will, for example, be higher than those in the 16th arrondissement of Paris.
“The spread of the Olympic sites has contributed a lot to this,” analyzed Delphine Bardou, deputy general director of Réassure-moi. It nevertheless estimated that this pricing madness was going to subside. “Prices have time to evolve between now and then, and on the other hand, in view of the crowds of visitors expected, many owners will be renting out their property in the coming months. With the effect of competition, this should automatically bring down prices,” commented the specialist.
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