The long term lettings market in Paris is busier than ever. Demand for quality accommodation has shot up and in-coming applicants are bargaining hard but for high-quality apartments we are holding out and getting what our owners are asking for.
The market for large, corporate lettings has been slowing and companies are less willing to pay for over-inflated packages than they once were. Another trend is that many owners are down-sizing, moving to cheaper countries or to another residence and putting their property on the rental market. We are also placing properties which are for sale on the rental market as vendors realise it’s a smart move when the property may take more time to sell for the right price. Potential buyers, some of whom may be finding it difficult to get a mortgage themselves,are biding their time and renting property instead.We feel very positive about the future and certainly think Paris will retain it’s ever-lasting appeal, the exciting element is that over the last three years new markets have been opening up, clients from South America and Australasia becoming a real presence, with Paris of course retaining it’s unique appeal to almost all nationalities.