Paris Second Most Expensive City for Renters
Paris has been rated the second most expensive city for renting property in Europe after Dublin in Ireland.
According to the annual Deloitte study, the most expensive European cities for renters are Dublin (€32.8 per sqm/month), Paris (€28.5 per sqm/month) and Oslo (€28.0 per sqm/month). Late summer is also a traditionally busy renting period in Paris as university students return and the rates for lower cost accommodation increases.
In addition to the rental market, higher interest rates are also affecting the sale of properties. Potential home buyers, unable to afford current mortgage rates, are also placing further pressure on the rental market. In the Paris region, home sales have fallen 23% and home construction has fallen across the European Union.
In the short term, there seems little hope for any improvement. To counter inflation, the European Bank has recently increased interest rates, and the lack of affordable properties may send prices higher.
EU Travel Requirement Delayed Until 2025
The European Union has once again delayed the implementation of the ETIAS travel authorization programme for American and other foreign visitors until 2025.
The ETIAS scheme was proposed by the European Commission in 2016 to strengthen security screening on citizens from more than 60 countries who can visit the 30 nations in Europe without a visa.
The travel authorization, that costs €7 per person, was originally planned for 2021 but has since been delayed three times, with 2025 as the new goal.
With the Olympic and Paralympic Games in Paris less than 9 months away, Neer Service plans to keep our moving industry colleagues updated with the latest news affecting shipments to or from Paris in the days leading up to the Games and during the event.
Moving and Relocation News
Currently, the major threat to moving operations remains the potential road closures. At the current time, the only guidance from authorities relates to a decree from 2022 that was updated in October 17th (available here) stating that signage will be in place restricting road lanes in the center of Paris and some suburban areas between July 1 to September 15.
Moving in some areas of Paris near to the to the Olympic sites may be challenging
Neer Service will continue to provide updates and when you have any planned bookings to the Paris area during this time, please contact us for advice.
Fans of the Tour de France will be unable to see the famous race end in Paris. For the first time since 1903, the “Tour” will not finish in the capital city, with the race ending in Nice on July 21, 2024, after starting in Florence, Italy, on June 29. The decision was taken by organizers to ease pressure on police authorities.
Calling All Kids!
Win an Olympic Souvenir!
For all our friends in the industry with younger children, we wanted to get them involved in the Paris Olympic spirit! Every month, we will be awarding a 2024 Olympic Souvenir to the best drawing on the theme of the “Olympic Games in Paris”.
Encourage your child to do a drawing of the Olympic Games in Paris and email it to firstname.lastname@example.org. In each month leading up to the event we will choose the winner and publish it in our newsletter.
Plus, for each entry we will donate €10 to a local charity.
Please note that the Neer Service office will be closed on Wednesday November 1, 2023 to observe the All Saints Day public holiday.
We will respond to communications as quickly as possible.