In the heart of the French capital, short-term rental is gaining momentum and is proving to be much more advantageous than long-term rental, although very often illegal. Here are some figures to find out what Airbnb and tourist rentals weigh in Paris.
Paris, a global tourist destination
Nearly 60 homes are currently listed on the Airbnb site throughout Paris. The French capital is a global tourist destination. It also represents the city where the Airbnb platform has the most rental accommodation, and where there is also the largest number of guests passing through the platform.
For the most part, these are main residences rented on an ad hoc basis by their owner. On average, there is a Parisian guest renting their accommodation, 26 nights a year thanks to Airbnb. However, these figures include a proportion of illegally rented accommodation. Indeed, this practice requires obtaining an authorization from the town hall, and the procedure for converting your property into a seasonal rental is very complex.
Seasonal rental in Paris
112 units are offered for legal seasonal rental in Paris. A figure however a little too low considering the current offer in this tourist city. In 2016, the Paris City Hall made a site available to identify owners wishing to comply with the legislation in force, in terms of renting a second home for tourist purposes.
Seasonal rental vs classic rental in Paris
Renting part of your home to tourists for a short period is 2,6 times more profitable in Paris than renting it for a longer period. The yield of the seasonal rental is even evaluated at 3,5 in certain districts of the center of Paris, like the Ile de la Cité. The gap between seasonal and traditional rentals is widening even more due to the rise in property prices in 2016, and the ceiling on income hoped for by landlords.
Rental management more profitable than traditional rental
In terms of seasonal rentals, it takes around 12 nights to receive the equivalent of one month's rent. On the Ile de la Cité, you even need to rent your property 9 successive nights to obtain the income of a traditional landlord. And this, with the advantage of not having to comply with the various constraints associated with a long-term rental.
Mass conversion to seasonal rental in Paris
Since 2009, the Paris town hall has counted some 20 Parisian housing units withdrawn from the long-term rental market, in favor of seasonal rental. Obviously, some of these accommodations have become main residences for their owners, but the majority of them have chosen to transform them into furnished tourist accommodation. This is why the Paris town hall decides to collaborate with Airbnb to encourage owners to respect the law concerning tourist rental. Indeed, French law prohibits any rental for a period of 000 months per year, or approximately more than 4 nights per month, without authorization, unless it is a main residence.
Find a seasonal rental in Paris
According to estimates from the Paris city hall, 7% of the accommodation located in the first four districts of the capital is rented for a short period to tourists. These are the results of an analysis carried out by the town hall on the basis of advertisements posted on various rental management platforms, taking into account the number of available housing units. The main districts where there is the greatest number of accommodation rented seasonally to tourists are concentrated in the very center of Paris. For the 10rdThe 11rd, and the 18rd district, the rate of rental accommodation is 4%.
