Paris Doubles Vacant Home Tax in 2027 to Tackle Housing Crisis
Paris, July 19 – In a significant move to address its ongoing housing crisis, the Paris City Council on Saturday voted to double the tax on vacant homes starting in 2027. This decision, aimed at easing the tight rental market, seeks to reintroduce an estimated 20,000 properties into circulation.
The initiative comes as part of a broader strategy by the left-leaning city hall to tackle the issue of housing shortages. Currently, Paris records approximately 150,000 vacant homes, a number the city aims to significantly reduce through this new tax measure.
Details of the New Tax Structure
The 2026 finance law grants municipalities the authority to increase the rates of the vacant housing tax. Under the new regulations, the tax rate will rise from 17% of the rental value after one year of vacancy to 30%, and from 34% after two years of vacancy to 60%.
This substantial increase is expected to incentivize property owners to either rent out or sell their vacant properties, thereby increasing the supply of available housing in the highly competitive Parisian market.
Addressing a Critical Need
The housing crisis in Paris has been a persistent challenge, characterized by high demand, limited supply, and soaring rental prices. The city’s administration believes that by making it more financially burdensome to keep properties vacant, they can encourage owners to contribute to solving this critical issue.
While the measure is expected to generate additional revenue for the city, its primary objective is to alleviate the pressure on the rental market and make housing more accessible for residents.
Broader Context: Other Weekend News
This weekend also saw other significant developments globally. France’s national football team finished fourth in the World Cup after a 6-4 defeat against England in the ‘small final’. Kylian Mbappé made history as the World Cup’s all-time leading scorer, and Michael Olise broke Pelé’s record with seven assists in a single tournament. The World Cup final between Argentina and Spain is set to take place tonight, with Lionel Messi leading Argentina in pursuit of their second consecutive world title.
Meanwhile, tensions escalated in the Middle East, with the United States conducting its seventh and eighth consecutive nights of bombings on Iran after two American soldiers were killed in a Revolutionary Guard strike in Jordan. In retaliation, Tehran intensified its missile and drone attacks against Gulf neighbors hosting US bases.
In Eastern Europe, Kyiv experienced heavy bombardment by Russian forces, with over twenty ballistic missiles launched on the Ukrainian capital. This attack followed a deadly Ukrainian drone strike on two logistics centers in Russia, which resulted in at least eight fatalities.
These events underscore a weekend of significant global developments, with Paris focusing on local policy to address its urban challenges.
