In the 6th iteration of the Paris Furnished Apartment Market Report, New York Habitat looks at the Paris market during the 2nd half and full year 2009. The Paris Furnished Apartment Market Report provides information, data and charts about the vacation rental and furnished apartment markets in Paris.
The Paris Furnished Apartment Market Report is published in PDF form and can be found on the Paris Furnished Apartment Market Reports website. This site also contains the previous 5 reports.
2009 Paris Furnished Apartment Market:
In 2009 the vacation rental market in Paris was in a slump due to the recession. The number of rentals as well as the average price of apartments fell during this period. The average price fell by €3 per night compared to 2008 which was not enough to sustain demand in the tough economy. Furthermore, extreme exchange rate fluctuations between the euro and other world currencies caused the Paris vacation rental market to be unstable in 2009.
The furnished apartment market in Paris was resilient in 2009. Owners lowered rental rates, people searched for deals and the overall number of booking began to climb in 2009 as the market adjusted to the new realities. The average monthly price of furnished apartments dropped nearly 10% from €1488 in 2008 to €1351 in 2009. Furthermore, the percentage of studios rented climbed from 42% of furnished apartment rentals in 2007 to 58% in 2009. Overall, we saw that the market was being cautious in response to the economic crisis but that Paris remained a top destination.
The Paris Furnished Apartment Market Report contains information ranging from average prices to neighborhoods selected and more. The information should be useful for apartment owners in Paris, customers searching for a Paris Vacation Rental or Furnished Apartment and others interested in the Paris real estate market.
To read this and previous market reports visit the Paris Furnished Apartment Market Report webpage.
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You can read about the previous Paris Furnished Apartment Market Reports at the links below: