Paris 2024 Olympic Games: Rental prices fall 18% in three months

The French thought they could take advantage of the Olympic Games by renting out their homes at high prices, The greed for profit drove them to raise the nightly price by three times or more. For example, the owner of an apartment in the 16th arrondissement estimated that the price of service could exceed 20,000 euros per night… Sure, his residence has a luxurious 50 square meter terrace, but the price seemed exorbitant. Is.

Three months before the Olympics, offers are abundant and prices are falling in almost all districts of Paris. They declined 18% in three months. The average price of a night in Paris for the period from July 26 to August 11 is approximately 802 euros, for a stay of four to seven days, a decline of 9% in just one month period, according to ‘Le Parisien Lycaon’ Immo Barometer. Which brings together the Airbnb, Abritel, Booking, PAP platforms, which took the price temperature between February 18 and March 18. It is clear that the gold rally is not happening immediately.

comprehensive proposal

Goodbye to the over 1000 euros per night expected by many guests in February. This is because of the abundant offering mentioned above: “In places like the 10th Century, more than 2% of real estate is for rent during the Olympics», explains Stéphane Daumillare of Lycon Immo. Generally, these platforms bring together 0.3 to 0.5% of the stocks in a district. Only the 8th arrondissement is performing well as overnight prices do not fall in a month but remain stable. The district which is home to three Olympic and Paralympic venues, the Grand Palace, the Place de la Concorde and the Pont Alexandre-III, will host a number of events, which speaks to the tourist enthusiasm for the district.

Prices are falling even in the Paris suburbs. For example, in Versailles, the displayed price averages 671 euros per night, a 7% decline in a month, and in Saint-Ouen, the nightly rate is 562 euros, a 4% decline.

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