When the Olympics visitors flood Paris in late July, Martin Cassan will be among those renting out his apartment to make extra money. Located near the Parc de la Villette, his light-filled flat will be filled with books and food.
During the Games, Cassan’s one-bedroom apartment will be rented out for 330 euros a night, a price that may seem high but is not as extravagant as some had predicted. Another two-bedroom apartment in the Marais is listed for 500 euros a night but remains unrented.
Cassan, an account manager, prefers to avoid the crowds and heat by staying in a quieter area during the busy summer months. He expects to make a substantial amount of money from renting out his place during the Games.
Airbnb anticipates Paris 2024 to be a significant event for them, providing affordable accommodation in both the city and surrounding areas. According to Clement Eulry of Airbnb, stays on the platform will benefit residents of Ile-de-France and contribute over 1 billion euros to the French economy.
Despite strict regulations in Paris limiting rental days to 120 per year, illegal renting remains a challenge. However, new laws are being proposed to address this issue and ensure better regulation of the market.
Overall, Paris deputy mayor Jacques Baudrier believes that the market will eventually regulate itself, preventing prices from skyrocketing.
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