Rent due

Living France - - Property News -

A con­tro­ver­sial cap on rent prices in Paris came into force on 1 Au­gust and has been met with con­cern and crit­i­cism from

es­tate agents and land­lords. Un­der the new loi ALUR land­lords will have to set the rent in ac­cor­dance with the

av­er­age price per square me­tre in that area, up to a max­i­mum of 20% more or 30% less than this av­er­age fig­ure. The aim of the cap is to make Paris more af­ford­able for low and medium in­come renters and it is ex­pected to lower one in five new leases in the city which has seen a rise in rents of

42% in the past decade. How­ever, es­tate agents and land­lords warn it could dis­cour­age prop­erty in­vestors from buy­ing prop­erty to let in Paris, destab­lise the mar­ket and ac­tu­ally lead to a drop in the num­ber of rental prop­er­ties avail­able. If the cap is suc­cess­ful then it is ex­pected to be ex­tended to other cities with high rents, in­clud­ing Nice,

Bordeaux and Greno­ble.

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