Who says pied-à-terre says… jackpot for these cities! Indeed, a study by Green Acres, a real estate agency, reveals the 25 cities where the taxation of second homes brings in the most revenue. Of the 4 billion euros collected by housing tax on second homes (THRS) in 2024around 850 million come from these 25 cities. The first in the ranking? Paris with 334 million euros, far ahead of the other French cities.
A special place which can be explained by two specificities according to Benoît Galy, CEO of Green Acres: “This uniqueness is justified by the strong presence of international owners. But also by a very French phenomenon: many households who move to the provinces keep a Parisian pied-à-terre”observes the expert. After the City of Lights, Nice and Cannes complete the podium with respectively 63.8 million euros and 44.2 million euros. A clear difference between neighboring towns due to the tax process of the increase, also called surtax.
The increase, one of the reasons for the jackpot on second homes
This increase, the amount of which is between 5% and 60% of that of the THRS, brought in 436 million euros. Or 11.17% of the THRS. A significant windfall which nevertheless only concerns a limited number of cities, the latter having to meet specific conditions. And among those eligible for this surcharge, 39.5% apply it. But when they do, they pull no punches. Indeed, two thirds (67%) opt for the maximum increase rate of 60%. On average, the surcharge amounts to 45%.
But what motivates the choice to increase? Let’s return to the example of Nice, with a 60% surcharge, and Cannes, without surcharge, on second homes, two cities with similar real estate dynamics. This is evidenced by the number of second homes – 27,020 in Nice compared to 23,692 in Cannes – and the price per square meter, which fluctuates on average between 5,000 and 6,000 euros for neighboring towns. This choice to increase or not can, however, be explained: “When they are cities dedicated to second homes, they do not want to take the risk of driving people awaydeciphers Benoît Galy. When a city is not dedicated to it and has other revenue centers, it can afford it”he indicates.
Translation : in Cannes, there are 23,692 second homes for around 75,000 inhabitants while Nice has 27,020 for around 350,000 inhabitants. This pattern is observed in the ranking. On the one hand, Bordeaux (9th), Lyon (6th), Marseille (4th): so many large cities which benefit the most from second homes by increasing the THRS to 60%. On the other, La Baule-Escoublac (16th), Megève (22nd), Le Touquet-Paris-Plage (20th): so many vacation spots, with a very low number of year-round residents, which do not overtax their seasonal residents.
Some very touristy municipalities are exceptions and however decide to increase their housing tax, such as Le-Grau-du-Roi (21st), because the average cost per second home is lower than the average – 824 euros compared to 1,125 euros on average. In total, of the 25 cities in the ranking, no less than 21 increase the THRS and 14 do so at the maximum rate.
A non-existent impact of the increase on the second home market
And the use of this surcharge does not seem to be running out of steam, quite the contrary. In 2025, 44.1% of the cities concerned applied it compared to 39.5% the previous year. An increase which is partly explained by its low economic impact on those who pay it: “The increase is substantial but the amount is not dissuasive for the people concernedsays Benoît Galy. 34% of second homes are purchased by the richest 10%”he concludes.
