Lexpress Property Trends Lexpress Property Trends EN Light Version | Page 42

GENERAL ASSESSMENT: PROPERTIES FOR RENT
PROPERTY
RENTAL:
APARTMENTS ON
THE RISE
The property rental market has experienced a constant growth over the
years with a diversifying supply. For the last 2 years, the apartment rental
supply has outweighed house rental supply. Demand follows a similar trend
with 53% of leads in 2018 for apartments and 47% for individual houses.
Houses for rent
Despite a drop in 2017 on Lexpress-
Property.com, the number of houses
for rent listed in 2018 has significantly
increased to nearly reach 4,000
listings..
The number of searches made by
potential customers nears 12 million
in 2018. Those searches and potential
customers resulted in 7,000 leads,
sent to real estate professionals.
Houses for rent are mainly listed
with 3-bedrooms (42% in 2018), or
4 bedrooms (38%). Demand follows
supply’s trend with 80% of properties
with 3 or 4 bedrooms, where 50% have
3-bedrooms.
Houses for rent are more and more
equipped with pools: 69% in 2018
compared to 62% in 2014. Demand
tends more towards houses without
pools (39%) which account for only 31%
of supply and likely due to searches
for more affordable property.
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LEXPRESSPROPERTY TRENDS
Supply of houses for rent is predomi-
nantly more in the North region which
accounts for 57% of listed properties
in 2018. The West, with 23% of supply
in 2018, sees its share constantly
decreasing in the last 5 years while
the Centre is stable at 15%. If supply
is adjusting to demand’s trend,
geographically the share of leads is
stronger for the West and the Centre
than available supply for these regions.
The Top 5 towns for houses listed
for rent in 2018 are Pereybere, Grand
Bay, Pointe aux Canonniers, Tamarin
and Calodyne. As for leads, Flic en
Flac is in 3rd position and Albion in 5 th
position at the expense of Pointe aux
Canonniers and Calodyne.
Over the last 5 years, the share of
houses having the highest rents has
increased significantly: while
% of
the houses for rent were proposed at
less than Rs 40,000 in 2014, they are
only 34% in 2017. In contrast, the most
expensive segment, at more than Rs
80,000 has increased from 17% to 29%
in 5 years. While it adjusts gradually
to the prices of supply, demand is
however skewed towards rent of less
than Rs 40,000 which captures 53% in
2018, for 34% of supply.
While the average rental prices by
rental segment are relatively stable
over the last 5 years, a clearer growth
of the average rental price for the
most expensive segment, as well
as a slighter increase for the least
expensive segment can be observed.
For 3-bedroom houses, the average
rental prices by rental segment have
been relatively stable over the last
5 years, except for the most
expensive segment which registers
a
distinct
increase,
particularly
as from 2016. 3-bedroom houses
for rent have a median rent of
Rs 40,000, the lowest quarter being
listed at less than Rs 28,000 while
the highest quarter is listed at more
than Rs 70,000.
As for leads from abroad, France is