Margaux Fodéré, edited by Philippe Folgado // Photo credit: ARNAUD PAILLARD / HANS LUCAS / HANS LUCAS VIA AFP
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06h40, 13 November 2023
Nearly 1,000 euros per night is the average price that short-term rentals in Paris are expected to reach during the Olympic Games, three times more than last month. With the influx of foreign tourists next summer, some tenants have already planned to sublet their apartment to hit the jackpot, without having the owner’s agreement.
The Olympic Games are approaching, and foreigners who will come to France for this great sports festival will need accommodation. Something that risks costing them dearly since the prices of short-term rentals are exploding: Up to 1,000 euros per night. An amount three times higher than last month. When you live in the heart of Paris, in an area where tourists are willing to pay a lot for a rental, like in the Marais, it’s the jackpot. This is also where Mike* lives with his girlfriend, and he has been thinking about subletting his 44 square meter apartment for a while.
“It can rise to an average of 2,400 euros”
“I’m thinking of renting it for around 200 euros per night, which is exactly four times more than my monthly rent per night.” Because the objective is very clear: to earn money. But beware, subletting an apartment where you are a tenant is regulated. Most of the time, written consent from the owner is required. Mike is aware of this, but he will probably do without it: “my landlady is someone who is afraid of everything digital, so if I decide to do it, I will tend not to warn her.”
Whether declared or not, several thousand properties could be rented out on a short-term basis during the Games in Paris. With particularly high prices in certain neighborhoods: “we reach 1,500 euros as in the 7th and 8th arrondissement, it can go up to an average of 2,400 euros”, warns Stéphane Daumillare, co-founder of Lycaon Immo. And all this, without counting last minute rentals which will drive prices up even higher.
*(First name has been changed)
2023-11-13 05:22:56
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