It's in large part (almost entirely?) because the laws make it extremely difficult to evict a tenant. It can take a very long time, so there's a lot of pressure on the tenant to prove they're not a future liability.
That's the big downside of heavy tenant protections - it goes so far, landlords take protective measures like torturing you with requirements.
Sure, there is a 'shortage' of housing - but all desirable, popular international tier 1 cities have this, so the word shortage is a bit of a misnomer. Although, Tokyo has something interesting to say about that, seeing that they are dealing with it better. That said my point above about purchase prices remains: you want to buy in Paris, you pay Manhattan prices with France wages. Good luck if you're not already a foreigner (partial topic of the news we're responding to) or very rich.
International rich like to buy and warehouse apartments in Paris for occasional use.
> It's in large part (almost entirely?) because the laws make it extremely difficult to evict a tenant.
I was given that explanation by at least one letting agent, but I don't believe it because I was turned down repeatedly even though I told all the agents that my employer offered to be my guarantor. That means they would have to pay rent if I didn't.
In fact, my employer is currently my guarantor, for the apartment I finally rented. My boss had to sign a contract that in the event that I stay in the house without paying rent the company will pay the rent for one year. I'm pretty sure that also includes any costs for repairs if required. That should pretty much take care of all the risk there could possibly be in renting to me. And yet, nobody would rent to me.
So the risk is not the problem. The letting agent who gave me the apartment I'm renting commented that it's just too much hassle letting to someone like me, who doesn't have all their documentation in their "dossier de locateur". It really looks like the only reason nobody wanted to let to me was that they don't give a shit whether I find a house or not and they have plenty of takers. As the French say, ils ce foutent de ma geule.
That's the big downside of heavy tenant protections - it goes so far, landlords take protective measures like torturing you with requirements.
Sure, there is a 'shortage' of housing - but all desirable, popular international tier 1 cities have this, so the word shortage is a bit of a misnomer. Although, Tokyo has something interesting to say about that, seeing that they are dealing with it better. That said my point above about purchase prices remains: you want to buy in Paris, you pay Manhattan prices with France wages. Good luck if you're not already a foreigner (partial topic of the news we're responding to) or very rich.
International rich like to buy and warehouse apartments in Paris for occasional use.