Bonapart - Rental Report Spring 2009

Suddenly, the medium term rental market in Paris is busier than ever. Demand for quality accommodation has shot up since late 2008. In-coming applicants are bargaining hard but for high-quality apartments we are holding out and getting what our owners are asking for.

The market for corporate lettings has been slowing and companies are less willing to pay for over-inflated relocation packages with specialist companies than they once were. In response to this, Bonapart created a mini relocation package for Microsoft subsidiary Musiwave where we arranged their new employee arrival details, property placement and tailored half-day settle in package to help them get to know their new Parisian neighborhood.

Another trend is that many owners are down-sizing, moving to cheaper countries or another residence and putting their property on the rental market . They may even move to a smaller, cheaper property in Paris, using our services!

We are also placing properties which are for sale on the rental market as vendors realise it’s a smart move when the property may take more time to sell for the right price.  Potential buyers, some of whom may be finding it difficult to get a mortgage themselves, are biding their time and renting property instead.

Our luxury rental properties and short to medium term rental is as busy as ever and holding up beautifully.  It feels like we work twice as hard as before though as we provide many added value services with a social and cultural aspect.  This element is key and in my view will make us stay the distance when old-style Parisian realtors who gave little value to the clients will fall by the way-side, many agencies have already closed.

We feel very positive about the future and certainly think Paris will retain it's ever-lasting appeal, the exciting element is that over the last three years new markets have been opening up, clients from South America and Australasia becoming a real presence, with Paris of course retaining it's unique appeal to almost all nationalities.

For more detailed information or a rental evaluation contact Susie Hollands susie (at) bonapartconsulting.com