Since the start of the current health crisis, the rental market has experienced unprecedented trends: we have observed in particular through our studies that rents are now increasing less rapidly (+ 1.1%) than selling prices (+6, 6% over one year). Likewise, we note that in many cities, notably in the West of France (Nantes, Rennes or Brest) and in the inner suburbs of Paris (Montreuil, Boulogne, etc.), the rents for furnished apartments are lower than those of empty rentals rents! A paradoxical situation, but probably resulting from the return to the traditional rental market of many furnished accommodation, previously rented on a seasonal basis.
Nantes: 721 € / month for an empty rental against 670 € for a furnished apartment
From Brittany to Pays de la Loire, rents – all charges included – for furnished apartments are falling. In Rennes and Nantes, the Rent Barometer – SeLoger tells us as well as rents for furnished properties fell by 11.5% and 9.9% respectively over 1 year. Figures that contrast sharply with those for empty rental because while the rental price in Nantes has recorded an annual increase of 4.9% to reach € 670 / month, the rent price in Rennes is € 640 monthly after an increase of 3.9% over the last twelve months.
This drop in furnished rentals can probably be explained by a massive influx of furnished accommodation on the conventional rental market. Health crisis obliges, many properties which were rented for short-term rental thus found themselves on the traditional rental market. As a result, long-term furnished rental offers have grown considerably. Judge rather, according to the Rent Barometer – Seloger, the furnished apartment ad volume more than doubled in Rennes this year. It is thus possible to think that many owners have chosen long-term rental in order to secure rental income while waiting for tourists to make their return and for the seasonal rental market to pick up.
Race results, rents for furnished apartments are now cheaper than those for empty housing ! Nantes shows the largest difference with € 721 in rent, on average, for an empty rental against only € 670 for a furnished apartment. Rennes comes just behind with an average rent of € 603 per month for a furnished apartment against € 640 for an empty rental. In Brest, the rent of a furnished apartment is also lower (552 € per month, all charges included) than that of an empty rental (570 € monthly).
4 towns in the inner suburbs where it is more advantageous to rent a furnished apartment
Although it may seem surprising, the inner Parisian suburbs are no exception to the trend. Indeed, four cities see the average rents of their furnished rentals being doubled by those of empty rentals. However, some are among the most popular in the inner suburbs! Thus, for an empty rental, the rent price in Boulogne-Billancourt increased by 6.1% over 1 year to approach, all charges included, € 1,486 per month. Conversely, the rents of furnished apartments in Boulogne recorded an annual decline of 5.4% to fall to € 1,475 per month! Here again, this phenomenon can find its origin in the sharp increase (+ 178% in 1 year!) in the volume of furnished rental advertisements on our sites.
In Montreuil, the trend is also downward (- 8.4% over 1 year) in furnished rents. These are limited, on average, to € 983 per month against € 1,020 for an empty rental. As for the volume of furnished apartments in Montreuil, it has almost doubled over the last twelve months.
Saint-Denis and Argenteuil are also in a comparable situation, although the difference between the rent of a furnished apartment / the rent of an empty rental tends to be smaller. In Saint-Denis, count 946 € monthly for the rent of a furnished apartment versus € 962 for an empty rental. While its attractiveness has undoubtedly been boosted by the extension of metro line 14, Saint-Denis has also seen its volume of furnished apartments multiplied by 4 ! As for Argenteuil, the average rent for an empty rental rises to € 817, while renting a furnished apartment costs, on average and all charges included, only € 802 per month.
In Besançon and Amiens too, renting a furnished apartment is cheaper!
This inversion of the balance of power between rents for furnished apartments and rents for empty rentals, the former generally tending to be higher than the latter, however, is not only observed in the West and the inner suburbs of Paris. In Besançon, in eastern France, rents for furnished apartments (€ 587 per month, all charges included) are now lower than those for empty rentals (€ 618 per month). On the other hand, it is interesting to specify that in the prefecture of Doubs, the rents of furnished apartments show a decrease of 2.2% over 1 year while at the same time, the rents of empty rentals in Bisontine increase by 0.6%. .
We also find this situation in Amiens where rents are falling (- 0.6% over 1 year for empty rentals and – 1.3% for furnished apartments). In this town where Jules Verne died, the rent for a furnished apartment is € 596 per month including charges, while the price of rent in Amiens is around € 614 per month for an empty rental. Finally, the historic capital of Picardy holds the prize for the largest increase in furnished accommodation ads. Indeed, the volume of furnished rental advertisements there recorded a 490% increase over 1 year!