Who rents furnished apartments in Paris?
Foreign students? Businessmen? Who rents furnished apartments? Where are they from? What type of surface area are they looking for? In which area? For how long?
Who are they?
Most lessees rent a furnished apartment in Paris for business reasons (50%); most of them are managers on a short-term business assignment or expatriates for a longer period of time.
There are also French and foreign students who come to Paris to study at university (30%).
Finally, there is a number of wealthy Parisians in need of a temporary solution (because of building work, the sale of their main place of residence, a divorce, etc.) who rent a furnished apartment.
These lessees are mostly singles and couples (80%).
Where are they from?
Most lessees of furnished apartments in Paris come from the European Union (70%), and a third come from France.
Americans account for about 15% of furnished apartment clientèle in Paris and 10% of foreign clients come from the Gulf Countries or Asia.
Only 5% of them come from South America and Africa.
What kind of apartment do they rent?
50% of lessees rent a one-bedroom apartment while 35% rent a studio apartment, which corresponds to the types of properties available in the capital city. 70% of Parisian apartments are small areas under 649 sq. ft. This is ideal for singles or couples.
Only 15% of lessees rent bigger areas (1 to 2-bedroom apartments) with their family (expatriates).
The average renting price is €1,100 per month for a studio apartment and €1,600 per month for a furnished one-bedroom apartment.
Which area are they interested in?
25% of lessees are looking for a place to rent right in the centre, that is between Paris’ 1st and 6th arrondissements. These Paris’ arrondissements are particularly sought-after by foreign lessees who enjoy spending time in Saint-Germain-des-Prés and Louvre-Rivoli areas, where rents are most expensive.
Less wealthy lessees like students or young businessmen prefer the eastern area of the city (24%) in more mixed-community arrondissements such as Paris’ 11th, 19th and 20th.
The wealthiest lessees, on the other hand, generally expatriate families, tend to seek accommodation in more residential neighbourhoods in the northern and western parts of the city, such as Paris’ 16th and 17th (22%).
How long do they stay on average?
Most lessees stay in furnished apartments in Paris for over 6 months (70%).
There has been great demand for short-term rents between 1 and 6 months (20%): this mainly concerns people on a short business trip and students studying at university for one semester.