In 2022, Paris welcomed more than 30 million visitors. A record figure, making the French capital the number one tourist city in the world. However, this number could literally explode during the 2024 Olympics. Rental demand will be particularly strong, which will lead to an increase in prices.
Featured on Forbes: Expert Advice for Property Investors! Discover valuable insights on making the most of your property investments during major events like the 2024 Olympics. Read our contribution to Forbes here!
Renting 2024 Olympic Games accommodation in accordance with basic rules
Whether you own or not, renting a property remains possible. The only exception concerns social housing which you cannot sublet for a traditional rental or seasonal rental. But if you are a tenant, you must obtain permission from the landlord and ensure that the rules of co-ownership are not compromised.
Do not forget to contact the town hall of Paris if you rent in the capital to make a prior declaration. The same provisions apply to cities in the Paris region. For your safety, do not forget to take out specific insurance for breakage, as damage is always possible.
Going through the Airbnb platform, this kind of concern remains supported by Airbnb. However, properly check the warranties and exclusions in the contract.
How to rent your house during the Paris Olympics in 2024?
The Paris 2024 event is fast approaching and if you have a property in the City of Paris or in a nearby town, you could generate comfortable income. Indeed, the tourist attractiveness of the region increases considerably and you must be ready to welcome tourists.
The Airbnb platform remains an excellent starting point for making your property profitable when you are not using it. Various developments are underway, particularly near the Champ-de-Mars, the Grand Palais and the Eiffel Tower. The sites will host Olympic events and more particularly fencing and taekwondo events.
The situation remains the same at Place de la Concorde and in the Invalides district. Other places already well known to Parisians will follow exactly the same route, that is to say the facilities of the Roland-Garros stadium and the Parc des Princes. Therefore, if you have a property in this geographical area, a seasonal rental on the Airbnb platform is advantageous. Tourists from all over the world will appreciate the ideal location to enjoy the many events of the Olympic Games.
Renting an Airbnb in Île-de-France during the Olympics
Certainly, the city of Paris attracts all eyes during this type of event. But it is necessary to think in a global way by thinking of the other agglomerations of the Île-de-France region. It is the entire Parisian crown which benefits from a strong attractiveness and therefore accommodation in this sector will be rented quickly and at a higher price. For example, Versailles is an essential place in which the equestrian events will take place and more particularly at the level of its castle. Saint-Quentin-en-Yvelines also has very high quality infrastructure, allowing it to host mountain biking and golf events.
The La Défense Arena in Nanterre will host the swimming events. It is one of the most watched disciplines during the Olympics and therefore if you have the possibility of renting accommodation in this sector, you will generate comfortable income. The artistic, climbing and diving events will take place in Seine-Saint-Denis. The Stade de France, an essential place in Parisian life, will host the athletics and rugby events. As you can see, all the cities of the inner Parisian crown will be involved during the 2024 Olympic Games.
Since these are particularly popular sites, the enthusiasm will only grow during this very special event.
How much to rent your apartment during the Paris Olympics?
To tell the truth, there is no fixed price, because everything depends on supply and demand. But as the Olympics approach, pricing gradually increases. It is not uncommon to find an apartment available for 1000 € per night. Obviously, such pricing is explained by a very particular positioning, that is to say close to the structures.
But to achieve the best profitability, development and renovation work is sometimes necessary. For example, by completely changing the bathroom or the layout of the rooms. Do not forget that the more the number of beds increases, the more the price of the night will be important. For example, an apartment in the 15th arrondissement rents for around €200 per night for an area of 30 m².
But with the approach of the Olympics, pricing can be multiplied by two, by three or even by four. Travelers, often foreigners, are willing to pay this high price to have the best location and take full advantage of the Olympics. But the date is fast approaching and to benefit from this effervescence, it is essential to immediately do what is necessary.
If you already have your property, make all the necessary adjustments to welcome travelers in the best conditions. Admittedly, it is a significant financial expense, but it will be quickly amortized during the Olympics event. In addition, the profitability will continue beyond the Games and know that both traditional rentals and seasonal rentals are very beneficial in this type of situation.
Why trust UpperKey Concierge?
For lack of time or energy, go to the UpperKey concierge. You benefit from very efficient rental management so that you can generate additional income, without the slightest intervention on your part. Indeed, the concierge has a solid experience to highlight your accommodation and thus distinguish it from the competition. Not only do you have a free mind, but you are sure to receive the best possible income.
From the start, a professional photographer will be present to enhance your accommodation with remarkable photographs. The readability of the ad is also optimized, allowing you to increase your notoriety. Then the agency takes care of the reception of travelers by providing them with all the necessary information on the accommodation, but also in a more general way on the district.
If temporary travelers are present for the Olympics, they will also receive useful information in this regard. So to discover the many advantages of the UpperKey Concierge, getting in touch remains a must and know that this inquiry is free and it does not oblige you to commit yourself in any way. So, to have peace of mind, while enjoying the arrival of the Olympics in the Paris region, trust UpperKey.