Expert Insight, Breaking News, and Insider Stories on Real Estate in Paris
Is Renting in Paris Getting Even Harder?
The common difficulty of renting an apartment in Paris is getting even harder and the future seems to hold even more restrictions, limiting the supply even more.
According to a study by PAP (De Particulier à Particulier), there have never been so few properties available to rent from the start of the 2022 school year, and particularly in Ile-de-France. “Morally, it was very hard.” said Eloïse and Lola, two students, sharing accommodation. After several weeks of being glued to their phones, watching for the slightest announcement, they have finally found the Holy Grail: an apartment in Paris. They are not the only ones for whom finding accommodation to rent has been a real hassle.
The number of people looking for a rental has increased by 9% compared to 2019, according to the PAP study. One of the causes of this increase is linked to the tightening of the conditions for granting loans: a good number of candidates for acquisition have seen their loan file refused and have had to fall back on renting. “We no longer had any criteria!”
In addition to the problems related to the lack of supply, potential tenants sometimes come up against the difficulty of finding a guarantor. Visale guarantee (a public system managed by Action Logement) acts as a guarantor to all tenants under 30 and to working people without permanent contracts who cannot provide a deposit on their own. “It was through struggling and searching that I discovered this,” explains Ayshé, a young working person who found a 28-m2 for 1,200€ near Buttes-Chaumont in the 19th arrondissement. “In addition to strengthening my case, it allowed me to claim apartments with higher rent. Despite everything, it is not an unstoppable solution, because, by ignorance of the system, I have often been refused it.”
The lack of supply already observed for years is now aggravated by the new regulations on ECD. From 2025 it will be forbidden to rent out accommodation with an energy label G. Then in 2028 will come F accommodation and E accommodation in 2034. “The owners of these properties are beginning to realize that their apartment will soon no longer be lettable as it is. Some are already withdrawing them from the market to carry out the necessary renovations,” analyzes Aurore Pallut, from the Stéphane Plaza Boucicaut agency in Paris. Others will even choose to part with it.
As a result, the market is more than tense. After the publication of an announcement, “we can receive around fifty calls in one hour”, says Aurore Pallut. If the competition starts from the first contact, it continues during the visits. “It’s crazy ! Sometimes it’s a real windmill: there are dozens of us and we can’t even move around the apartment,” comments Lola. “I didn’t even go to what is now my room. I discovered everything when we were given the keys,” recalls Eloïse. In this context, having your file selected may seem like a miracle. “We ended up visiting without conviction, convinced that we would not be chosen anyway”, admit the two students. This situation is pushing prospective tenants to lower their expectations. “We had selected a few districts close to our school and we were looking for at least 40 m2. But, after a week, we took everything and we no longer had any criteria!” cry Eloise and Lola.
Some even come to accept the unacceptable. Alexandra, 26, remembers her small 9-m2 attic, “which measured even less in Carrez law”, which she lived in for about six months. “I think the owner refused to go through an agency because no one would have agreed to put such a property up for rent,” she confides. But, in a hurry, seeing her file accepted, the young woman felt compelled to put her suitcases there. For Lola and Eloise, despite all the difficulties they have encountered today, say they are “rather lucky” to have found theirs after “only” a month of research.