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Fancy Apartment Rentals for Paris Olympics See Poor Demand and Price Cuts
Locals who’d hoped to turn a big profit by renting out their posh apartments are now slashing prices by 30%-60%.
Eiffel Tower and Avenue d'Eylau, Paris.
Photographer: Jorg Greuel/Stone RFParisians hoping to rent out their splashy apartments at a premium during this summer’s Olympics are starting to temper their lofty ambitions, as they come to terms with a tepid demand and an oversaturated market.
Real estate agencies, which can help Parisians list their permanent homes as temporary rentals for vacationers, say they’re cutting prices for luxury rentals in chic neighborhoods and tempering expectations of owners who’d hoped to ride the wave of visitors coming to the capital.