WHETHER BUYING, SELLING OR RENTING
In recent months there has been a lot of discussion and hearsay about short-term rentals and the Airbnb rentals situation for Paris. In response, we wanted to clarify the facts for our readers.
On one hand, the Mairie of Paris has been very clear about their position on short-term rentals – it is forbidden unless the apartment is your principal place of residence. If it is your principal place of residence, you are allowed to rent it out for a maximum of 4 months in each year.
However, there is a lot of confusion as clearly Airbnb rentals still occur on a massive scale in Paris, and not all of these places are principal places of residence. We have lots of clients asking if they can buy a property and rent it out short-term, for long periods of time.
Our response is that at the moment, given the aforementioned legislation, this kind of activity is extremely restricted in Paris at the moment, and as you are a non-resident – we advise against it. You may have read about recent inspections conducted in the 3rd and 4th arrondissements and we can confirm that a taskforce of 60 people has been actively door-knocking apartments to catch people out. There are many cases where neighbours have denounced Airbnb activity – it’s highly risky.
VINGT Paris also offers our client another – completely legal – solution. If you are looking to buy a property in Paris and wish to rent it out short-term, you can do so if the property falls under current commercial zoning. We currently have several properties available with commercial zoning that we are happy to show interested clients.
It is possible to apply for commercial zoning on an unzoned property, but please be aware this is a time-consuming and costly process (costing around 1,500-2000 euro per m2), with no guarantee of success. Therefore it’s best to buy a property with the Zoning in place.
So there you have it! If you have any further questions about this situation do not hesitate to contact us.