SHARE
COPY LINK

PROPERTY

Paris average rent tops €1,000 – and that’s just for a studio apartment

Average rent for a Paris studio apartment has now topped €1,000, according to city estate agents.

Paris average rent tops €1,000 - and that's just for a studio apartment
Paris' 6th arrondissement topped the table for rent prices. Photo: AFP

The average rent for a studio apartment in Paris – comprising just 31 metres squared – is now €1,079 per month, including charges, according to a report in French newspaper Le Figaro.

On Monday it was reported that Paris had smashed its 'glass ceiling' on property prices, with the average property in Paris now costing €10,000 per square metre.

READ ALSO

Rent in Paris is more than double the average price for rent in the rest of France. Photo: AFP

But anyone hoping that renting might be a more affordable option will be disappointed by a report from real estate agents Locservice on the state of the capital's rental market.

The agents concluded that the average rent for a studio apartment (with no separate bedroom) in central Paris is a whopping €1,079, including building charges.

Unsurprisingly, renting outside of Paris was significantly cheaper, with the average studio rent outside of Paris a considerably more reasonable €575.

Within Paris, Loscervice calculated that the average rent per square metre had reached €35.13, a three per cent rise on 2017.

But there was considerable variation within the different districts of Paris, with the historic 6th arrondissement – home of the Left Bank and Boulevard St Germain – topping the table at €43.52, while the cheapest arrondissement was the 19th.

A shortage of new house building has been blamed for the very high cost of both buying and renting in Paris.

The fierce competition for places to live also means that landlords can afford to be very picky.

Read our guide – Ten things you need to know about apartment hunting in Paris.

 

Member comments

Log in here to leave a comment.
Become a Member to leave a comment.
For members

PROPERTY

MAP: Where in France can you buy property for less than €100k?

While French cities such as Paris are notoriously expensive, there are many areas outside the cities where it is still possible to buy spacious homes for less than €100,000 - particularly if you don't mind a bit of renovation.

MAP: Where in France can you buy property for less than €100k?

We decided to look at where in France you could afford a property on a budget of €100,000, and it turns out there are some bargains to be had.

There are a lot of caveats while searching for property, and many local variables in place, but our search does show some of the areas to concentrate on if you have a limited budget.

We used the Notaires de France immobilier website in August 2022, and we specified that the property should have at least five rooms (including kitchen and bathroom) and a floor space of at least 100 square metres.

We also discounted any property that was for sale under the viager system – a complicated purchase method which allows the resident to release equity on their property gradually, as the buyer puts down a lump sum in advance and then pays what is effectively a rent for the rest of the seller’s lifetime, while allowing them to remain in the property.

READ ALSO Viager: The French property system that can lead to a bargain

For a five-room, 100 square metre property at under €100,000, you won’t find anywhere in the Île-de-France region, where the proximity of Paris pushes up property prices. The city itself is famously expensive, but much of the greater Paris region is within commuting distance, which means pricier property. 

Equally the island of Corsica – where prices are pushed up by its popularity as a tourist destination – showed no properties for sale while the region of Provence-Alpes-Côte d’Azur – which includes the French Riviera – showed only 1 property under €100,000.

The very presence of Bordeaux, meanwhile, takes the entire département of Gironde out of this equation – but that doesn’t mean that the southwest is completely out of the running. A total of 25 properties came up in the Nouvelle Aquitaine region. One property was on the market for a mere €20,000 – but it was, as the Notaires’ brochure noted, in need of “complete renovation”.

Neighbouring Occitanie, meanwhile, showed 12 further properties in the bracket.

By far the most properties on the day of our search – 67 – were to be found in the Grand Est region of eastern France. The eastern part of France overall comes out best for property bargains, with the north-east region of Hauts-de-France showing 38 properties and and Bourgogne-Franche-Comté displaying 25.

Further south, however, the presence of the Alps – another popular tourist destination – pushed up prices in the Auvergne-Rhône-Alpes region which showed just three results.

The below map shows our search results, with darker colours indicating more cheap properties.

Property buying tips 

In order to make a comparison, we focused our search on properties advertised online, but if you have a specific area in mind it's well worth making friends with a few local real estate agents and perhaps also the mayor, since it's common for properties not to be advertised online.

Most of the truly 'bargain' properties are described as being "in need of renovation" - which is real estate speak for a complete wreck.

If you don't mind doing a bit of work you can often pick up property for low prices, but you need to do a clear-eyed assessment of exactly how much work you are willing and able to do, and what the cost is likely to be - there's no point getting a "cheap" house and then spending three times the purchase price on renovations.

READ ALSO 'Double your budget and make friends with the mayor' - tips for French property renovation

That said, there were plenty of properties at or near the €100,000 mark that were perfectly liveable or needed only relatively minor renovations.

You also need to pay attention to the location, as the sub-€100,000 properties are often in remote areas or very small villages with limited access to amenities. While this lifestyle suits many people, bear in mind that owning a car is a requirement and you may end up paying extra for certain services.

Finally remember that government help, in the form of loans and grants, is available for environmentally friendly improvements, such as insulation or glazing.

SHOW COMMENTS