The number of homes available for rental has collapsed over one year in most major French cities. Here are those where the situation is particularly critical.
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The outlook is struggling to clear up on the rental market. According to the portal specializing in real estate advertisements SeLoger, the number of homes available for rental fell by 8.6% year-on-year in October 2024 nationally. The fall is even more spectacular over the last two years, with a drop reaching 22.1% since October 2022. This fall in rental supply is mainly explained by a blocked transaction market, due to of the sudden increase in mortgage rates between the start of 2022 and the end of 2024. “Blocked in their purchase project, many tenants found themselves forced to remain so, not allowing turnover and thus preventing the stock of properties for rent from being replenished.», Explains Alexandra Verlhiac, economist at SeLoger.
If the rental market is particularly tight in the majority of the territory, the situation is however heterogeneous within the ten largest French cities. The number of properties available for rental, for example, collapsed spectacularly between October 2023 and October 2024 in Nice (-28.7%), Strasbourg (-29.6%), Rennes (-21.7%). or even Toulouse (-18.1%). This critical situation for rental candidates is explained in particular by a surge in demand since October 2021 (+41%). In Paris, the situation is even more critical, with a stock of available goods which fell by 54.8% between October 2022 and October 2024! The rental market, however, is less tense in Marseille (+8% of properties available for rental over the last twelve months), Montpellier (+4.6%) and Toulouse (+2.8%).
The only good news in this particularly unfavorable situation for rental candidates is that the market could gradually relax in the coming months. With the decline in real estate loan rates since the start of the year, which favors access to property for first-time buyers, the number of tenants looking for an apartment has already fallen by 9.4% since October 2023 nationally. “The slight improvements in the real estate purchasing power of the French provide a breath of fresh air to the French rental market, even if tensions remain significant in a market characterized by low supply and strong demand.», continues Alexandra Verlhiac. And the situation should continue to improve in the coming months since according to brokers, mortgage rates could continue to fall to approach the 3.30% mark by the start of 2025.
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