Furnished accommodation rented weekly or monthly used to be limited to seaside resorts, it has been developing a lot in Paris thanks to internet. Ads for weekly or monthly, furnished accommodation began appearing in the mid 1990s. Their number grew from year to year. Short term, furnished lets have increased because they respond to a rising demand from tourists and professionals for more spacious accommodation with more personal freedom in the heart of the city.
They have also developed because of how profitable they are compared to unfurnished or long term furnished lets. Today over 300 websites publish advertisements offering this type of property located within Paris and approximately 20,000 short term furnished lets within the Parisian territory are estimated to be offered on internet, which represent 1.5% of main residences in the capital. The disappearance in only a few years of 20,000 main residences in favour of short term rented accommodation goes against the principal housing objectives of the public authorities. Paris and Île-de-France as a whole lack the housing; to meet the demands made by new households, to compensate for the disappearance of housing and to catch up with the accumulated delay in building projects. The first priority of the urban development plan is “to provide housing for all the inhabitants in Île-de-France”. In Paris the City Council has reinforced regulations enabling it to curb the development of short term furnished lets. So far these regulations have rarely been applied, mainly because investors are not fully aware of them. This leads to the stock of furnished short-term lets developing in violation of the rules for changing the use and purpose of housing units.
The aim of this study is to define the size of the furnished short-term let stock in Paris, to describe the apartments concerned and their whereabouts. Drawing up an inventory of the situation is also an opportunity to clarify the legal and regulatory context which applies to this accommodation and to identify the different actors in the market as well as the owners of these apartments. It also allows the different approaches of this new type of letting on an international scale to be examined and compared and to find out if developing this market is considered to be a problem and if so how it is dealt with. Knowledge of these various elements can serve as a basis on which to formulate recommendations.