Living in Paris and its suburbs is becoming increasingly expensive, and while the price of a square meter has dropped below €10,000 , rents in the Paris region are still more expensive than in the rest of the country. The Observatoire des loyers de l'agglomération parisienne (OL AP) has just published a new report on trends in private rental housing rents in the region in 2022, and to say the least, prices are not about to fall.
To carry out this study, OLAP conducted several thousand surveys covering several hundred thousand properties in Paris, the inner suburbs (92, 93, 94) and the outer suburbs (91, 78, 95, 77). OLAP found that rents in the Paris conurbation (the entire region) will rise by 2.4% in 2022: at the start of 2023, the average monthly rent for an average-sized apartment (around 53 m²) in the Paris conurbation even exceeded €1,000 per month. However, there are disparities depending on proximity to Paris: in the inner suburbs, the average monthly rent in 2023 was around €937, while in the outer suburbs it was even cheaper, at around €835.
Rents are evolving, with the increase being borne above all by tenants: while it used to be customary to increase rent when a tenant left, now even tenants with current leases have to pay more rent. In Paris, rent increases are lower (+4%) than in the inner suburbs (+4.6%) and the outer suburbs (+5%): these increases can be explained, among other things, by the rise in telecommuting, which is pushing households to move away from the capital to rent bigger and cheaper.
The decree limiting rent rises in the Paris conurbation helps to regulate the amount of rents in the area; coupled with the "purchasing power" law extended until March 2024, rents will remain capped at a 3.5% increase over the year 2023.
Official website
www.observatoire-des-loyers.fr
