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  • Writer's pictureJean-Christophe DIMINO

The explosion in the number of furnished rentals in Nice

Each week, I will develop 3 news items that have caught my attention in the field of real estate industry.

As you may have noticed, or experienced, there has been an increase in furnished rentals in recent months. And it's not by chance, the health tsunami has melted the income of individuals who had started seasonal rental. This movement is worldwide. So what exactly is the situation in France? According to the SeLoger platform, owners have left Airbnb and Abritel to try to secure their income. They have opted for long-term furnished rentals. Over the last few months of June, July and August, the volume of ads jumped by 91% in Bordeaux, 84% in Nice, +60% in Toulouse and 67% in Paris (particularly empty of foreign tourists this summer). That's for the number of offers.

Now, let's look at the amount of rent, again according to the SeLoger study, if we compare from one year to the next, the situation is very variable depending on the city. Rents for furnished accommodation in Bordeaux - all properties combined - have soared by 12%. More reasonable, furnished rents have fallen by 10% in Rennes, and by 4% in Nice, where it must be said that there is a plethora of supply and that it is necessary to adapt to demand in order to find a tenant.

Competition is very strong between properties for rent very often located in the same sector, those of the musicians, the hyper-centre, the port and the seafront are saturated with offers. Nice still, where it seems

2 out of 3 furnished apartments are nowadays studios, generally of very small surface.

Every week, you can find on this blog the extended version of the podcast Avenue Gustave V

C’est un peu la 50e étoile de la bannière Keller Williams. Le réseau immobilier américain vient de s’ouvrir à un 50e pays partenaire. La république Dominicaine, dans les Caraïbes. Présent donc dans 50 pays désormais, sur quasiment tous les continents, dont l’Europe et l’Asie, KW est un poids lourd de l’immobilier résidentiel né au Texas au milieu des années 80. Il a d’abord tissé sa toile naturellement sur le territoire nord-américain ainsi qu’au Canada avant de s’exporter dans le reste du monde. Gary Keller the founder is still in charge. He is the one who conveys the values of the group, the educational content of the training courses and finances the technological tools that the American agents are now equipped with and soon... the French. I will have the opportunity to talk about this again in this podcast. See the video below.

In the United States, too, there has been a change in holiday rental habits. Particularly in the segment of star residences. Before the pandemic, it was sometimes necessary to book months or even years before being able to afford a night or a few weeks in a residence steeped in history. Today it's different, it's more last minute, but there's still an audience for it. For example, you could treat yourself to a stay in a home where the likes of Frank Sinatra, John Steinbeck, F. Scott Fitzgerald, Bob Dylan and others have lived or just passed through. The price ranges from $70 to $4,200 a night, which is the case in some parts of the United States, especially in New York State, which is full of such places.



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