Paris

1. The Hidden Catacombs: Beneath the bustling streets of Paris lies a vast network of underground tunnels and catacombs that house the remains of over six million Parisians. Originally limestone quarries, these tunnels were repurposed in the late 18th century to address issues of overcrowded cemeteries. 2. Paris's Green Spaces: While many know about the famous parks like the Luxembourg Gardens and the Tuileries, Paris is also home to numerous hidden green spaces, known as "squares," which are often overlooked. These small parks provide a serene escape from the city’s hustle and bustle and are perfect for locals to relax or have a picnic. 3. The Ghost Metro Station: Paris has several abandoned metro stations, but one of the most intriguing is the "Station de l'Exposition," which was closed in 1939. It was originally built for the 1937 International Exposition and remains intact, with its vintage decor and advertisements frozen in time, offering a glimpse into the city’s past.

The Paris housing market in early 2025 is stabilizing after a period of falling prices and low transaction volumes. Paris remains a city of renters: the majority of residents rent their homes, with recent data indicating about 65% of Parisians are tenants and only around 35% are homeowners. Publicly owned housing, or “logement social,” accounts for approximately 17-20% of primary residences in the city, making it a significant part of the market. Social housing is a subset of public housing, aimed at providing affordable accommodation to lower-income households; while all social housing is publicly owned, not all publicly owned properties are designated as social housing. The average price to buy an apartment in Paris as of early 2025 is roughly €9,320–€9,470 per square meter, reflecting a 9–10% decline over the past two years but with signs of renewed demand and stable or slightly increasing prices expected going forward. Renting an apartment in Paris currently costs an estimated €30–€35 per square meter per month, depending on property type and location. Public housing in Paris plays a crucial role, offering more stable rents and contributing to affordability, especially as private sector rents have risen faster in recent years. The city continues to prioritize expanding the social housing stock to address housing pressure and maintain a mix of social and market-rate homes.

Paris faces a highly acute housing crisis despite recent signs of market stabilization. Demand for rental housing in Paris far outstrips supply, making it the most expensive rental market in France and one of the priciest in Europe. In 2024, the average rent per month for a modest 15 m² studio reached over €723, while the cost per square meter in prime neighborhoods can exceed €35. Paris ranks as the third most competitive city in France for finding rental accommodation, a measure known as "tension locative." This intensifying competition is especially felt among young professionals, students, expatriates, and lower-income residents. Home purchase affordability is also deeply strained. Higher mortgage rates in 2023 and early 2024, which peaked above 4%, significantly restricted access to credit for first-time buyers, leading many to postpone dreams of homeownership or settle for smaller, less convenient homes. Even as rates have eased to around 3% in 2025, banks have tightened lending standards, worsening challenges for those without stable, high incomes. While some peripheral districts in Paris offer relatively lower prices, central areas remain out of reach for most households. The scarcity is most severe for affordable, larger housing suitable for families. The crisis disproportionately affects renters, younger adults, lower-income earners, and anyone entering the Paris housing market for the first time, leaving many susceptible to overcrowding, precarious leases, and financial strain.

The Paris city administration has set ambitious targets for affordable and sustainable housing, aiming to reach 40% affordable housing by 2035, up from 22% in 2021. The intermediate goals include achieving 25% social housing by 2025 and 30% by 2035. These targets reflect a commitment to making the city more inclusive and accessible for all residents, especially middle- and lower-income households. To achieve these goals, Paris pursues several concrete strategies. Each year, the city plans to construct more than 4,000 new social housing units and a similar number of affordable housing units priced at least 20% below market rates. There is also a strong push to expand intermediate rental housing for middle-income groups, with hundreds of new units added annually. The administration actively identifies and converts vacant buildings, such as former offices and industrial sites, into affordable housing. Programs promoting mixed-income developments are also encouraged, ensuring new projects include both market-rate and affordable units to foster social diversity and inclusion. Financial support initiatives are available, offering rent subsidies, moving assistance, renovation grants, and homeownership loans for low-income Parisians. On the sustainability front, Paris has launched a bioclimatic urban development plan, prioritizing climate adaptation, sustainable construction, and the preservation of architectural heritage. Larger projects like Cité 2025 create integrated, sustainable neighborhoods with diverse housing options and support for community life. These efforts demonstrate Paris’s integrated approach to increasing both affordability and sustainability in its housing sector.

Housing cooperatives in Paris represent a collective, democratic model of housing where residents jointly own and manage their homes. These cooperatives offer an alternative to traditional ownership and renting, providing lower, non-speculative prices and increased community engagement. Members contribute to decision-making and share responsibility for maintenance and governance, fostering stability and social ties. The sector remains small but is growing, with the first major cooperative project (UTOP) opening in 2024 and housing 17 families with long-term, secure occupancy at below-market rents. The share of cooperative housing remains marginal—well below that of social and public housing, with only a handful of active projects in Paris. As of 2025, cooperative housing constitutes a tiny fraction of the city’s roughly 1.13 million primary residences, making its presence still largely symbolic compared to the 17–23% share held by social housing. Paris actively supports cooperative housing as part of a broader push for affordable, inclusive, and sustainable living. Municipal policies, national laws (notably the ALUR law), and financial aid encourage these models, aiming to fight speculation and expand resident participation. Programs focus on providing land, securing project financing, promoting legal frameworks, and integrating cooperative housing into larger urban projects. The city sees such initiatives as a promising tool to diversify housing options, enhance social cohesion, and address persistent affordability challenges.