Baptiste Morin / Photo credit: 7:58 p.m., January 29, 2024
If the real estate purchase market begins to soften, the rental market continues its free fall, according to a new study by the Seloger platform. Renting can sometimes feel like a real obstacle course. Particularly in Paris where the figures are striking.
The decline is striking and demonstrates that the housing crisis is not yet behind us. In the space of one year, the number of rental properties has fallen by 19% and even by 36% in two years and by 42% in three years. An offer almost halved since 2021, a year in which rates had not yet increased. It was also before the production of real estate loans stopped.
Housing that is struggling to become available
A rental crisis which arises from the sales crisis, as confirmed by Barbara Castillo Rico, director of studies at SeLoger. “These shortages in the rental supply can be explained by first-time buyers who would like to take the plunge into ownership, but who, today, cannot do so due to very restrictive credit conditions and who therefore remain tenants for a longer time. They therefore occupy properties that are not available on the market.”
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The situation is even quite astonishing in Paris. In the capital, supply fell by 74%. In 2021, where you could rent four apartments, there is now only one left. A tension which has consequences on the level of rents which have increased by almost 5% in Paris, in the space of three years. However, this is less than the national average which is around 7%.