Résoudre the housing crisis in Paris prohibiting furnished rentals, a false “good” idea

Nearly 20,000 apartments would be rented furnished currently all or part of the year in Paris, representing approximately 1.5% of the total housing stock, according to a 2011 study by the institute Opinion Way.

If seasonal rental was prohibited, there is no guarantee that these apartments would be available to the classical rent or on sale.

Indeed, many of the owners of these apartments (about two thirds) occupies regularly or occasionally their apartment as a primary or secondary residence. If seasonal rental was prohibited, the apartment will remain empty if they do not occupy and it would be a shortfall for homeowners that use seasonal rentals to finance part of their charges.

also found frequently the case that the owner leaving in province or abroad for a few months or years and will obviously not put his apartment on sale. The rental allows him to keep his furniture and personal effects, and to return to his apartment regularly when staying in Paris. If seasonal rental was prohibited, this clearly complicate his life but it seems highly unlikely that he would put his apartment in classic rent, let alone sell it!

Foreign owners who have a foot-to-earth Parisian where they come several times a year might be forced to sell. But most of the time they are in love with Paris who would rather keep their empty apartment rather than separate. They could moreover be tempted to rent their apartments in their country of residence, friends or acquaintances, via an agency based abroad, or via illegal networks. A black market could fully develop, with tenants that have no warranty and a hidden tax. And the apartments would not return empty to the rental market or selling either, of course.

Remains a scenario frequently invoked but actually represents a tiny part of the owners of rented apartments in seasonal: investors, who never occupy the apartment and did not intend. Most of the time, these are individuals willing to invest in real estate and that, given the current price in Paris, could not buy if they could repay their loans by renting the apartment empty or furnished in classic . The majority has only one apartment, they are retired and want to round off their monthly or whether young workers eager to build a property portfolio from scratch, seasonal rental is often the only way to do. These, if seasonal rental was prohibited, would probably be often forced to sell their apartment.

Professional investors who own several apartments or even an entire building is currently an exception in the sector, and often oriented primarily towards commercial property, the ban would not apply.

Alex Wagner - A La Carte Paris apartments