Olympic Games in France and rent increase = 3.5 times +!
For some time now, landlords renting furnished accommodations have been asking themselves the question of whether to rent long-term or short-term before, during and after the Olympic Games 2024 in France.
Overnight bookings are expected to reach very high prices and far beyond what we currently know. For now, estimates indicating 3.5 times over the normal amount…
This should have consequences for long-term furnished searches:
- A reduction in housing available for rental; which is already the case today.
- An increase in rents specially from the start of 2024. A landlord will probably even be more interested in not renting his property for a few months in order to rent it during the Olympics Games a in short term. Because he will earn so much more in a few weeks. Then, the market will transform like the one we know by the sea during summer season.
- Estimates indicate 3.5 times the normal price. Consequence: 42,000 euros compared to 12,000 for a night at 200 euros in the Paris region rented for 60 days in 2024.
Our recommendations for welcoming employees arriving in France:
- Plan as many movements as possible before April 1st or after September 15th
- Keep rented accommodation, even empty for a few weeks. Because, it is not certain that market prices will drop radically after the Olympic Games. It is possible that landlords will try to keep prices high.
- It should perhaps return to normal but how long it will take is unknown for now. Perhaps, the prices of the cities which hosted the Olympic Games tended to remain higher.
- Get away a little from Paris and attractive places.
- Negotiate places for 2024 in temporary accommodation since now.
- Rent NON furnished properties and furnish them.