Real Estate: In Paris, the Number of Wealthy Foreign Renters Has Skyrocketed

Two out of three tenants managed by BARNES Rentals are now foreign nationals, with Americans leading the way. According to a study by the luxury real estate specialist, these high-net-worth individuals are settling permanently in the capital and driving up high-end rents by 6 to 9 percent annually, and by as much as 12 percent in the ultra-premium segment.
 

The high-end Parisian rental market is becoming less and less French. In 2025, two out of three tenants managed by BARNES Rentals, the rental management subsidiary of the luxury real estate group, were foreign nationals. According to a study the company recently published, rentals to non-resident clients surged by 22% in 2025, and the trend is accelerating in 2026. In May, 64% of tenants managed by BARNES Rentals were international, including 42% Americans, 33% Europeans, and 25% from the Middle East—a mix that is diversifying as the global geopolitical landscape shifts.
 

The international context is fueling this trend. For wealthy families who compare major cities the way others compare investment opportunities, safety has become a decisive factor: The Economist Intelligence Unit’s Safe Cities Index 2025 ranks Paris higher than London or New York in terms of perceived safety. The study also highlights the capital’s more traditional strengths: top-tier international schools, higher education, cultural offerings, and a concentration of high-end services.
“This trend goes far beyond a simple market cycle,” observes Jean de Gouvion Saint-Cyr, associate director of BARNES Rentals. “The capital is now establishing itself as a lifestyle choice as much as a real estate investment.”
 

Rents rising 6 to 9% per year
This foreign demand comes at a price. Across the entire Parisian high-end market, rents are rising 6 to 9% per year, with an average monthly rent of €4,285. The ultra-premium segment is performing even better, with a 12% increase projected for 2025. At the top of the pyramid, UHNWIs—individuals with a net worth exceeding $30 million—are driving demand for rental properties costing more than €10,000 per month, with requirements that rival those of luxury hotels: dedicated concierge services, private chefs, and personalized security services.
 

One figure sums up the pressure: the vacancy rate for properties managed by BARNES Rentals remains below 1 percent. In other words, an apartment almost never stands empty between tenants. For an investor-landlord, this means virtually uninterrupted income; for a prospective tenant, it means having to make a quick decision, since new listings aren’t coming onto the market fast enough to meet demand.
 

From the Marais to Versailles, the market is expanding
The safe bets remain the same: the 6th, 7th, and 8th arrondissements, as well as the 16th and Neuilly-sur-Seine, attract an international clientele drawn to established neighborhoods, renowned schools, and a secure residential environment. The Marais reaffirms its status as a sought-after neighborhood, driven by its architectural heritage, lifestyle, and cultural vibrancy.
 

More surprisingly, eastern Paris is moving upmarket. The 11th, 12th, and 20th arrondissements are attracting a younger international clientele, drawn to these neighborhoods’ unique character, their independent shops, and their cultural vibrancy. The 17th, meanwhile, appeals to families seeking a balance between residential elegance and accessibility, while the 15th capitalizes on its schools, green spaces, and public transportation.
This is because the typical profile has changed. Demand no longer comes primarily from executives on the move or expatriate managers passing through; instead, families—whether international or French returnees from abroad—are looking to settle down for several years. The 16th arrondissement, Neuilly-sur-Seine, Boulogne-Billancourt, Versailles, and Saint-Germain-en-Laye are benefiting directly from this trend, thanks to their international schools, infrastructure, and green spaces. High-end rentals are thus becoming a step toward long-term settlement, rather than simply a temporary solution between assignments.
 

“Paris is currently experiencing something quite rare in the history of a city: a revitalization driven by external factors. It wasn’t Parisians who decided that Paris was a safe haven. It was international crises that established this,” summarizes Jean de Gouvion Saint-Cyr. The consequence is very concrete: as long as this capital continues to choose Paris, rents for luxury properties are expected to keep rising faster than the rest of the rental market.