Do large French cities belong to a handful of owners? The share of French people who own a home has stagnated for ten years (57.2% of households in 2024). However, some people accumulate them. In 2021, a study by the National Institute of Statistics and Economic Studies (Insee) revealed the extent of real estate concentration in France, especially in the city centers of large cities.
Since the publication of this study, the profiles and strategies of these multi-owners have been the subject of more sustained attention from researchers and experts. This interest is all the greater as many homes now escape the traditional rental market and are lacking for those looking for accommodation. Many properties are put up for short-term tourist rental, serve as a pied-à-terre or are left unoccupied for a long time. To the point of alerting elected officials when the phenomenon contributes to accentuating the housing crisis in areas in tension.
One million households own at least five homes
According to‘study that INSEE began to publish in 2021, France has 24% of households owning at least two real estate properties. This group of “multiple owners” owns 68% of housing owned by individuals. And within this group, the “maxi” owners stand out: one million households, or 3.5% of French people, own five or more homes, which combine primary or secondary residences, properties rented for long or short periods or vacant housing.
These figures were obtained from a new and exhaustive database of the real estate assets of the French, produced by crossing tax and cadastral data, but also commercial and company registers making it possible to identify land owners by intermediary of a real estate company (SCI) based first on data from 2017. This large-scale work, “revealer of structural trends” according to Mathias André, from the economic studies department of INSEE, continues since the institute is gradually integrating more recent data.
They concentrate private housing in large cities
Owners of at least five properties hold a very significant share of private housing located in large metropolises: they hold 37% of housing in the city centers of urban areas with more than 700,000 inhabitants and up to 40% in Paris. .
This is explained by the share of rental housing within their assets, since profitability is better in areas where the demand for housing is strong. Thus, “maxiowners” hold 50% of rental housing owned by individuals in France. This percentage rises to 58% of rental accommodation located in Paris, 57% in Lyon, 56% in Marseille or 62% in Lille.
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