immobile. The rental market is dry: an ad now generates 87 responses | Francelive
In the new school year 2022, the drought is also historic on the real estate market. According to figures from the Bien’Ici website, transmitted by BFMTV, the rental market is in a depression: today only 27% of real estate advertisements are for rent, all the others are for sale.
“I don’t think we really understand what’s happening”
The shortage is so great that an average of 87 calls are now generated by interested parties when renting a property. The proportion was one in 50 in 2021…
This very sudden drying up of rental supply is a major problem as many profiles (students, precarious, young workers, etc.) risk no longer finding accommodation.
“I don’t think we really understand what’s happening”warns Marie Coeurderoy, the BFMTV journalist who investigated the issue.
In France, according to INSEE, 40% of households rent their main residence. This equates to just over 11 million families.
Suffice it to say that the fallout from this rental tap closure looks like a tsunami…which radar screens don’t seem to have picked up yet.
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If the trend that has been set in motion is confirmed in the coming months – and to be honest it’s hard to see how it could reverse in the short term – millions of French people could find themselves stuck in a real estate dead end.
Why have rental properties become so rare?
When owners stop renting out their property, it’s simply because they’re selling it, or more precisely… because they’re getting rid of it.
This would be a perverse effect of the Climate and Resilience Act. New regulations are now being imposed on energy-intensive apartments that are driving owners to the wall.
Since Wednesday, August 24, the rent freeze has applied, for example, to class F or G thermal screens. From January 1, 2023, apartments that consume more than 450 kWh per m2 and year will simply no longer be advertised.
Consequence: For fear of no longer being able to or being rented out badly, the owners, who do not have the means or do not want to carry out insulation work, part with their property.
In France, however, 140,000 households have energy class G. So this is a significant amount of goods leaving the rental market.
What are the most difficult rental properties?
While the entire rental market is facing a shortage, some properties are being hit harder than others. When it comes to letting, small areas are particularly in demand. Unfortunately, supply has also dried up the most in this segment: – 12% over a year for one-room apartments, – 10% for two-room apartments.
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Which regions are hardest hit by the rent shortage?
The number of rental advertisements is in free fall nationwide.
The situation is most tense in Brittany, Provence-Alpes-Côtes d’Azur and the Pays de la Loire. In these regions, an average of eight properties are for sale and only two are for rent.
The Grand Est region does slightly better, with a ratio of 30% rental ads versus 70% sales.