Recently clients of Flat Hunter bought and renovated a beautiful apartment in the 8th Arrondissement. It is now being rented on a weekly basis to tourists through our trusted partner Haven in Paris. Read on to find out why you too may wish to buy to rent:Short-term rentals (locations saissonnières) are an attractive option both for those looking to buy in Paris as an investment, and for those who are looking to buy for their own personal use. Short term furnished rentals are always in high demand in Paris, at all budgets and for all sizes of apartments, from students and interns looking for somewhere for a few weeks or months to those coming to Paris for a holiday or on business and require somewhere bigger and more luxurious. Even if you are looking to buy in Paris for your own use, you can rent your apartment while you are not occupying it, and expect healthy returns.
We shall focus now on one particular property bought by a Flat Hunter client in March 2008, which is since October 2008 available for rent through Haven in Paris, one of Flat Hunter’s preferred partners. This is a prime example of the successes of those who buy a property with the assistance of Flat Hunter, and choose to rent it with one of our partners.
Location: Near Parc Monceau, 8ème arrondissement, Paris.
Nearest Metros: Monceau (Line 2), Miromesnil (Lines 9 and 13) and St Augustin (Line 9)
Size: 125m²
Bedrooms: 2
Sleeps: up to 6
Bathrooms: 2
Rates: Between €2100 and €2550 a week
Olanda, one of Flat Hunter’s property search experts, spoke to us about this particular property and the example that it provides to those looking to invest in property to rent in Paris:
“This is a prime example of how clients can turn buying a flat in Paris into a good investment. The client hadn’t originally thought about renting the apartment out and initially was only buying it for personal use. To make it suitable for renting to tourists, they doubled her budget for renovations from €80,000 to €160,000, but now they are able to rent the property for €2,100 to €2,550 a week. That works out at about €1,500 in profit for her per week. Therefore they should earn back the extra investment for renovation in about 2 years, with an estimated occupancy rate of 50% (but most likely much higher). So, after those 2 years, the €1,500 of profit are all theirs, which usually amounts to around €40,000 a year. After around 2 years the occupancy rate should rise to around 80% as clients, or friends of clients, return!
This is a very good example to other Flat Hunter clients and potential clients. I feel it is important to point out that this client lives in Australia, and therefore it was possible to buy an apartment, do all the necessary work, manage and rent out the apartment “long distance”, thanks to Flat Hunter and our partners!”
Erica Berman, Owner of ‘Haven in Paris’, one of Flat Hunter’s preferred rental partners, outlines the benefits of buying to rent in the French capital.
There are many advantages to owning a short-term rental apartment in Paris:
Your apartment available for your personal useWith short-term rentals you have loads of flexibility. You are able to enjoy your pied-a-terre at your leisure by blocking the dates you want. No more hotels!!
