Luxury Rentals in Paris: A Prime Real Estate Market Still Going Strong
Despite the global health crisis, the luxury rental market in Paris remains highly resilient. According to a recent study by Book A Flat, a specialist in high-end rentals in the French capital, foreign tenants still represent 45% of the luxury rental market, highlighting Paris’s enduring international appeal.
While expatriates and international executives continue to play a key role, the pandemic has also led to a strong return of French tenants, particularly in central Paris.
High-End Rentals: French Tenants Back on the Market
The Paris luxury rental sector is now strongly supported by domestic demand. This trend, already visible in the prime sales market, has intensified in rentals since early 2020.
Book A Flat reports that 55% of luxury tenants in 2020 were French, compared with 45% foreign nationals. Repeated lockdowns and the rise of remote working have encouraged tenants to seek:
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larger living spaces,
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premium amenities,
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prestigious locations within Paris.
Meanwhile, international demand temporarily slowed, particularly among Asian, American and North African tenants, traditionally very active in the Paris luxury rental market.
Paris, a Global Capital for Luxury Rentals
Since 2016, Paris has established itself as one of the world’s most sought-after cities for luxury rentals, ahead of New York and Tokyo. The city’s prime residential market attracts wealthy international clients thanks to its unique properties featuring:
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preserved Haussmann-style architecture,
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balconies and terraces,
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high ceilings, mouldings and fireplaces,
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exceptional locations near parks, schools and cultural landmarks.
These distinctive features are difficult to replicate in other global capitals.
The Most Sought-After Luxury Rental Properties
According to Book A Flat, 28% of new luxury leases signed in summer 2020 were located in central Paris, from the 1st to the 6th arrondissement, with the 5th arrondissement ranking as the most sought-after area.
As short-term rentals declined, many property owners shifted their assets back to the traditional luxury long-term rental market, further strengthening demand.
Examples include:
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a 220 sqm family apartment near the Luxembourg Gardens rented for €6,910 per month,
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a 155 sqm top-floor duplex with iconic views over Paris landmarks,
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a 250 sqm apartment facing Parc Monceau rented for €9,600 per month, featuring a balcony and home office.
These properties perfectly illustrate the ongoing strength of the Paris luxury rental market, appealing to both French and international clients.
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