Arguably the most visited city in the world, Paris is also growing into a top destination for extended holidays, digital nomadism and international study. According to numbers from the luxury home-share brand Onefinestay, demand for mid-term rentals in the city are on the up. Since the beginning of 2023, 8% of the company’s Paris enquiries are 30 days or more, and searches of one- to two-month stays account for 64% of all mid-term rental searches.
Yet with regulations tightening for homeowners hoping to let out their primary residence, Onefinestay’s demand outweighs its current portfolio of suitable accommodation.
Image courtesy OneFineStay.
Image courtesy OneFineStay.
Image courtesy OneFineStay.
Image courtesy OneFineStay.
Image courtesy OneFineStay.
Image courtesy OneFineStay.
The response? Last month Onefinestay unveiled the Élysée Collection, nine short- and mid-stay apartments in a residential building in Paris’s 8th arrondissement restored and renovated by family-owned developer Herrmann and held in reserve for customers. ‘Typically we work around the homeowner’s plans to manage availability based on when they go away,’ says Sophie Howse, Onefinestay’s chief commercial officer. ‘Here we have exclusive availability to offer the apartments to our guests.’ The apartments range from a studio through a two-bedroom duplex across five floors of the building. Lead-in rates for longer stays are typically half that of shorter stays.
Herrmann’s design embraces the original features of the Haussmann building, maintaining its classic high ceilings and tall windows, while modernising each apartment with a bespoke kitchen, high-end appliances, smart technology and, crucially, air-conditioning. ‘They are the perfect size and location for the type of traveller who books with us,’ says Howse. Of the recent mid-term enquiries, she says, 33% are from couples but a massive 50% are from solo travellers, ‘someone looking to experience another city, business travellers working abroad or international students.’ Adults with children comprise 17%, which Howse says could be down to business travellers bringing along family ‘to make it more of an experience’.
The location, near the Champs-Élysées and the boutiques of Rue du Faubourg Saint-Honoré, is quieter than many tourism hotspots while still capturing the spirit of Paris with its grand boulevards and lively cafés. On arrival, guests are welcomed at the door and toured through the property. Housekeeping is included, bathrooms stocked with toiletries and tailored concierge services offered, beyond the usual 24/7 support: grocery delivery, airport transfers, childcare, even a private patisserie class in the apartment’s kitchen.
The Paris mid-term landscape is starting to more closely resemble Onefinestay’s business in New York, where it deals exclusively with stays of 30 nights or more. Last year New York bookings were up 30% from the previous year.
