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Money Matters and Legal / Your Money

House-shares gaining in popularity in France

housesharing

Growing at a rate of 30 to 40% per year, the house-sharing market is gaining ground in large cities across France, despite still being negligible just three years ago. Parisian tenants may still need convincing, nonetheless the phenomenon is growing there too, slowly but steadily.

While many still deem renting a room in a shared apartment the exclusive domain of cash-strapped students, house-shares are growing in popularity with professionals as well. In fact a poll conducted by Guy Hoquet found that 57% of flat-sharers are employees or interns.

In Paris, this form of renting remains marginal and only constitutes 7 to 8% of the new rental market, against 40% in London. Yet, the market for house-sharing is doubling every 24 months, according to Challenges.fr.

For Albin Serviant, CEO of specialized house-sharing website Appartager.com, “despite a currently low availability of house-shares, we are noticing an explosion in demand,” — having swelled by 19.6% in a year — especially in cities such as Bordeaux, Nantes, Rennes, Toulouse, Strasbourg and more.

Owners are increasingly turning their attention towards this particular segment of the rental market. While some remain reluctant to rent out their properties to groups of young people, fearing unpaid rents, noise and administrative difficulties, others have embraced house-shares as a way to easily rent out very large apartments, which can be more tricky to let out to one renter.

Moreover and most importantly, this manner of renting allows owners to increase their price per square meter, at prices 30-50% higher than a traditional, one-person let. For tenants, sharing a rental home is an average of 30% cheaper renting on their own.

Businesses have already jumped on the house-sharing bandwagon, such as Coloc et Vie, a company specializing in transforming traditional homes into house-shares. The company’s founder, Nicolas Baussant, explains that its services are “ideal for individuals who own a property and wish to derive a good profit from it without having to manage it.”

Interested owners and potential house-share tenants can now find each other on a number of specialized online platforms. Alongside market-leader Appartager.com — boasting 10 million visitors per year — Weroom, Roomlala and leboncolocataire.com and a dozen others have also started catering to this need.

Photo credit: ukwiki

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