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Paris landlords left disappointed as Olympics rental boom falls flat • FRANCE 24 English

  • May 29, 2024



Paris landlords left disappointed as Olympics rental boom falls flat • FRANCE 24 English

landlords had hoped to make hot profits during the Olympic period but with an oversaturated Market the return may just be lukewarm this flat is situated in the 11th AR of Paris close to the here in Paris this 90 squ meter property can fit eight people but costing between 350 and 550 a night it has yet to be reserved at all the number of accommodation available in the French Capital has exploded going from 65,000 properties available last August to 130,000 this year the supply has considerably increased and many people have added their properties on platforms such as Airbnb or booking.com as a result prices are not going to increase by a factor of 10 but rather by a factor of three or four for premium and luxury flats and ratios of 1 to three for more average Flats a year ago properties like this 56 square meter flat were listed for as high as ,000 a night but the average nightly rate has dropped to € 58 this April even hotels in Prime locations are finding that they’re not filling rooms as fast as they’d have liked initially we were hoping to Triple our usual prices for this period but that’s proving difficult to achieve so we’ve decided to go for double we thought we’d fill our hotels more quickly and get more requests from groups but that hasn’t been the case according to analysis by a DNA paris’s occupancy rate during the game stands at 28% only marginally higher than last year’s 24% for the same period

With less than 2 months to go before the Paris 2024 Olympic Games, landlords in the French capital who planned to rent out their properties for a premium this summer are in for a bit of a disappointment. Though initially skyrocketing, accommodation rates for the Games this summer have been gradually falling as the date approaches, with the market oversaturated.
#Paris #Olympics #landlords

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8 comments

  1. Unfortunately for Paris it's reputation for really rude/arrogant waiting staff it's dirty rep & the Olympic brand now looking rather money grabbing to most ensures a lackluster interest from the international public.

  4. I think broadly speaking the Olympics have lost their luster a bit. Modern communications and the pandemic put an end to their growth. The last Olympics in China were a social & environmental atrocity. Maybe it will change again in a few decades. Then the issue of transitioned athletes has put many off.

  6. Oh they mean “we thought we could price gauge tourist and we are finding not so many are coming “ 🙄 The amount of people in PARIS besides the olympic ugh. Will be hot and crowded and expensive who doesn’t want to spend their summer like that lol.

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