The amount of rent for commercial premises in Paris worries the municipality. The capital is under the blow of a “hourglass effect”, according to Jonathan Rouach, real estate agent within the Point of sale network, with a “luxury business that will never suffer the crisis” and ” the mass market struggling, for example on boulevard Saint-Michel or rue de Rennes”. If the first manages to bear high rents, the second can no longer do so. The Trade Alliance is alarmed.
“Given the evolution of purchasing behavior and the development of telework, several Parisian districts have not returned to a normal level of attendance before the pandemic”, says Johann Petiot, general manager of the federation of traders. And this one to plead for “facilitate the mechanism for reviewing rents during the execution of leases contracted for three, six or nine years”, in order to adapt the effort rate of tenants to the economic situation. This proposal is one of the twenty-two measures that the federation hopes to see examined during the second term of the President of the Republic, Emmanuel Macron, to “developing trade in France”.
Re-let at “reasonable prices”
The City of Paris also says it has taken the measure of the problem. Olivia Polski, deputy mayor in charge of trade, plans to change the role of Semaest to make it a “large retail operator” in 2022. Even if it means extending its field of activity. Founded in 2004, this semi-public company was initially intended to fight against monoactivity in certain Parisian districts, including the 11thand district, by pre-empting premises before re-letting.
Its role could be that of a “public land”, judge now Mme Polsky. Everywhere in Paris, “in collaboration with the Caisse des dépôts”it could then buy back vacant funds and re-let them to “reasonable prices” to new traders. This mechanism already exists in “a hundred cities of France” confronted with the desertification of their city center, according to Pascal Madry, director general of the institute for the city and trade.