France Relocation: What You Need to Know
Posted by: Isabelle Grimbert, Director, Client Services, France
Thinking about relocating to Paris? This issue of Paris Market Watch discusses current rental trends and popular expatriate neighbourhoods in the city, as well as the impact of the ALUR Law legislation.
Paris Rental Market – What, Where and When
Over the last 12 months, demand has continued to outstrip supply in Paris, particularly for larger apartments with three or more bedrooms. Smaller apartments with one or two bedrooms are more widely available, as are free-standing suburban family homes (three or more bedrooms).
Typically, singles and couples opt for properties in central Paris. The southwestern parts of Paris, and areas outside of the city, are popular with families due to the proximity of international schools. Home search in these areas may be easier in the months of March and April, when competition for school placements has eased. When searching for a property in France, August is a holiday month with most real estate agents and landlords away on annual leave. With this in mind, it is highly advisable to avoid this time of the year when organising home searches.
Impact of the ALUR Law
In August 2015, the French government passed the ALUR (Accès au Logement et un Urbanisme Rénové) Law which focuses on rent controls on residential properties that use personal leases (as opposed to corporate leases) and those up for renewal.
The controls were first introduced in Paris and lowered agency fees for tenants.
How Cartus Assists Relocating Employees
As an important part of our Destination Services support, Cartus establishes and maintains relationships with real estate agents in Paris and other regions of France. These long-term relationships are key to making sure that relocating employees have access to all available properties. To help meet requirements, we act as intermediary between the real estate agent and the prospective tenant. We recommend that relocating employees keep in regular contact with their Cartus representative throughout their period of relocation.
For a more detailed review of the Paris rental market, read the Cartus Paris Market Watch, watch our video on relocating to France, and view our Resource Page for information on other major locations worldwide.