Already strongly impacted by the contraction of the real estate market in 2023, the rental market will tighten even more in 2024. Many professionals are calling on the government to quickly take up the subject.
The rental real estate market, increasingly saturated? In any case, this is what many professionals in the sector indicate. Paris, according to the Observatory of rental supply and demand published by the site LocService.fr, It takes 6 months on average to find a studio to rent. And some cities are experiencing even greater difficulties.
While the rental tension score [calcul sur la base d’un ratio entre le nombre de candidats locataires ciblant une zone, et le nombre d’offres de location dans cette zone, NDLR] for the whole of France stands at 3.35 this year (compared to 2.71 in 2022), this score climbs to 9.79 Rennes, making the Breton city the busiest city for rental searches, ahead of Lyon (9.76) and Annecy (8.83). Paris comes in 4th position, with a rental tension score of 7.18.
A contraction in the real estate market which weighs on rentals
In certain regions, it is estimated that supply has fallen by 34%, while demand has increased by 66%, assures Delphine Herman, director of external relations and transversal projects for the Guy Hoquet real estate network. As a result, many agencies have stopped putting their rental property ads online or in windows because they receive too many requests. The standards cannot accommodate 200 calls per day to rent accommodation, reveals Charles Marinakis, president of the Century 21 group, in Le Figaro.
How to explain this situation? The contraction of the real estate loan market has led to collateral damage on the rental market, analyzes Delphine Herman. As banks have lent less, particularly to rental investors, the latter were not able to buy this year, which means that there were fewer properties on the rental market. In addition, first-time buyers have also been particularly impacted by the situation. This meant that the latter remained tenants, which also considerably impoverished an already stretched rental market.
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Rental real estate is Brzina, adds the president of Century 21 at the microphone of BFMTV. The new one is broken [un nombre de rservations en baisse de 40% au deuxime trimestre 2023 sur un an, et un nombre de nouveaux logements mis en vente en chute de 34,9% sur un an, NDLR]. However, in new construction, 50% of the stock is available for rental property under Pinel type exemptions. And in the private park, we exclude housing F and Gand landlords are being forced to cap rents in certain cities.
Rents up 3.1% on average
Even for the lucky tenants who manage to find accommodation, things have become difficult. Indeed, rents in large cities increased by 3.1% on average over one year in January 2024, according to the National Real Estate Federation (FNAIM). The increases are particularly significant in Saint-Tienne (+7.1%), La Rochelle (+6%), Le Mans (+5.6%), Avignon (+5.6%) and Nice (+4.5%). %).
To counter this situation, the Orpi network believes that under penalty of reserving investment for a wealthy category of the population, we must also allow small owners to build assets. It is by encouraging real estate investment that we will also be able to renew the rental stock offer. and give a breath of fresh air to the rental pressure.
For its part, the FNAIM is campaigning for an urgent adjustment to the timetable for rental bans, while landlords are starting to sell their properties without waiting for the dates of 2025 and 2028 which will mark the ban on renting housing classified G and F in under the energy performance diagnosis (DPE).
If banks start lending to first-time buyers again, this will free up some housing on the rental market
Can the situation improve quickly? For Charles Marinakis, the crisis is likely to last: Real estate takes a long time. Even if we took measures today, there is no magic wand, we are not going to find 500,000 housing units built at once. Nevertheless the government must tackle the issue of housing taken as a wholeimplores the president of the Century 21 group. We should have a Minister of Housing who is committed and who doesn’t jump every other time, with a land-use planning policy.
Delphine Herman wants to be more reassuring: If banks start lending to first-time buyers again [nouveaux propritaires, NDLR], this will free up some housing on the rental market. Likewise, if rental investors begin to have access to real estate credit again, this could have a beneficial effect. Finally, the change in taxation on tourist rentals [la Loi de finances pour 2024 prvoit de passer l’abattement sur les locations de meubls touristiques 30%, au lieu de 71% actuellement, dans les zones qui rencontrent des difficults d’accs au logement, NDLR] will potentially breathe new life into the rental marketbecause many owners will re-offer these accommodations throughout the year.
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