Finding a place to live in Paris is like being in a battle, it's a war! It's nearly impossible to find nice, functional apartments with at least enough space for a bed and running water. And when you consider that 19% of the housing stock in the capital is made up of vacant homes, it can drive you a little crazy. But what explains this extreme vacancy? And what are the possible solutions? We're here to tell you all about it!
Not Everyone Is Living the Same Life
According to Apur, the capital has 19% of its homes sitting empty (compared to 8% in the rest of Île-de-France). Of these, 10% are classified as “second homes”, and 9% as “vacant homes,” meaning they're completely empty. Overall, whether in one case or the other, the consequences are the same.
These places are for these apartments: they are useless. These wasted properties are mainly located in the center of Paris, as well as in the second ring of arrondissements: the 5th, 6th, 7th, 8th, and 10th (where we still find 13% vacancy).
© Apur
And it seems that the situation is not likely to change anytime soon because this number is increasing by an average of 7,000 additional addresses per year. In 2023, for example, we counted 128,000 vacant homes for over a year, with 70% built before 1914, and 35% lacking basic sanitary facilities. These are apartments that need some work before being rented out to meet the standards. However, between the lazy ones and those who can’t afford it, it's no wonder that things are dragging.
A Radical Solution
To remedy this rather disastrous situation for the capital’s appeal: increase taxes on vacant homes for owners, to encourage them to rent them out. Because right now, 60% of the ... Paris rental market belongs to people who own 5 or more properties, so they don't necessarily need to rent out their apartments or do what it takes, at least not from a financial standpoint.
Une belle journée pour redire que 20% des logements sur Paris sont inoccupé, on peux loger 250 000 personnes dès demain il suffit de réquisitionner 👍🏻
— raz 🧌 (@raaz404) August 15, 2024
To put an end to all this, Jacques Baudrier, the PS deputy in charge of housing for the city, has a straightforward solution: double or even triple the tax on vacant or under-occupied homes. This measure would generate over 300 million euros for the state. It's a change that has already been implemented in some countries like Belgium, Canada, and Spain, with results that are more than satisfactory. This increase could bring about around 100,000 homes back to the market. So, what are we waiting for?
