Which country has the #1 market for Airbnb? Whose citizens are more likely than any other in Europe to share their property? Which country has the most platforms for renting space? And the most diversity of usage in the sharing economy? Say cheese!
My maison is your maison
You may already know that Paris, with 3.3 million nights rented last year on Airbnb, collects more short-term rental (STR) revenues than any other city on the globe. Last year, more than 26 million nights of STR were rented in the whole of France, according to Insee, the official statistical institution of the French Ministry of the Economy. But did you know that this is simply the extension of a longstanding tradition in France?
For more than 60 years, travelers have stayed in self-catering homes ‘chez l’habitant’ in ‘chambres d’hôtes’ or rooms with owner-occupied hosts or at ‘gîtes’ or converted private abodes overseen by sole proprietors living nearby. To alleviate any concerns from travelers, an organization Gîtes de France was created, with a certification program and in-person inspections of dwellings. Today, more than 60 000 short-term rentals still have the label.
The inception of Abritel.fr pre-dated HomeAway by four years, and Airbnb by seven years.
According to the quasi-governmental non-profit organisation CRÉDOC, Centre de Recherche pour l’Étude et l’Observation des Conditions de Vie, 65% of French people are ready to share their property. This is the highest propensity in the entire European Union. Co-co-ri-co!
The Eurobarometer of the European Commission reported that 36% of French have already used a sharing economy platform, multiple times in a year. This is by far the highest percentage in Europe, Germans sharing far less at 20% and the British, at 8%, are four times less likely to use platforms.
France is the number 1 destination for campers on the continent.
France has more private swimming pools than any other European country.
Follow the money
France is the #1 market in the Eurozone for real estate crowdfunding with more than US$ 110 million invested in 2017. With home sale prices rising 6% in 2017, residential real estate home values are rising faster in Paris than in either London or New York. Residential real estate prices in Paris should continue to rise because of a lack of construction projects creating new dwellings, restrictions on building height, existing population density and the small land footprint of the city. Paris is seven times smaller than New York city in surface area. London is spread out 15 times wider than Paris.
Real estate is a popular topic among French folks, 37% of them reading information and ads on the subject online, according to a poll by Médiamétrie/NetRatings.
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