Paris authorities crack down on short-term rentals amid long-term housing squeeze
The short-term rental market is currently dominating the housing scene in central Paris, making it increasingly challenging to find longer-term rental accommodations. City authorities have, therefore, decided to ban the further leasing of such properties.
9:37 PM EST, January 22, 2024
New Restrictions Will Not Affect All Landlords
As reported by the local website, "Le Parisien", this decision forms part of a new urban plan to be discussed in June.
"Whole districts of Paris will be exempt from establishing new tourist sites. We believe that the current offering is already expansive, and we aim to maintain a balance downtown," conveyed Emmanuel Grégoire, the First Deputy Mayor of Paris.
Areas including Sentier, Marais, Montmartre, Latin Quarter, Champs-Élysées, and the vicinity of the Eiffel Tower will face restrictions. According to the deputy mayor, these new measures will target professional investors, leaving those who occasionally rent out homes - for up to 120 days a year - unaffected.
Short-term rentals have been a persistent issue for the French capital city. Back in 2023, a regulation was introduced requiring all changes in property use, specifically from private housing to tourist accommodation, to gain approval from local authorities.
