Rental Market State of Play: April 2023

Let’s take a look at how rental markets are faring in London, Amsterdam, and Paris. In April 2023, the London rental market showed signs of a “spring bounce” with rents climbing 0.2% after three consecutive months of decline. Meanwhile, in Paris, all four property types monitored by Klippa Relocation dropped in value, making it slightly cheaper for new tenants to secure a rental property. In Amsterdam, the rental market cooled slightly after significant rises in March, with three of the four properties monitored by Klippa dropping in value.

London Rental Market Latest

London cityscape view across the Thames
London, UK

After three consecutive months where average rental values in Greater London fell, it appears the
‘spring bounce’ has kicked in. The latest HomeLet Rental Index showed rents in the capital climbed by
0.2% in March. Annually, tenants are now paying an average of £1,979 per month in 2023, compared to
£1,770 per month in 2022. Pressure on rental values looks set to stay following new analysis by Zoopla.
In April, the portal found 26% of homes for sale in London were listed by landlords, many exiting the
buy-to-let market due to rising mortgage rates. Any landlord exodus will reduce an already constricted
supply in London, paving the way for more competition among tenants for an ever decreasing pool of
properties. A natural byproduct of this would be offers and counter offers for rentals, each at a higher

Average Monthly Rents in London

When it comes to the four property types that Klippa monitors, there is a slight disparity with the
HomeLet figures. Our analysis shows only one property type has become more expensive to rent in the
last four weeks and that is a one-bedroom apartment in the capital’s suburbs. The rental cost of this
apartment has risen from €1,614.62 pcm (per calendar month) to €1,637.62. The other three benchmark
properties have become cheaper. A three-bedroom apartment in London’s suburbs has fallen in cost the
most, dropping from €2,825.45 pcm to €2,798.69. Not far behind is the cost of a one-bedroom city
centre apartment – down from €2,342.63 pcm to €2,317.05 pcm. A three-bedroom apartment in the city
centre is also cheaper to rent in April – reducing in price from €4,346.24 pcm to €4,330.30.

Amsterdam Rental Market Latest

Amsterdam street view along canal with parked bicycles
Amsterdam, Netherlands

Analysis of the first quarter in Amsterdam’s rental market makes for interesting reading. The latest
report from Pararius revealed rents for new contracts in Amsterdam were up 5.8%, when compared to
the same period in 2022. The property platform also found the number of properties coming on to the
city’s rental market halved in the first three months of this year, compared with the first quarter of 2022. It predicts rental availability will reduce further if the plan to extend rent controls to most of the market comes into effect. Additionally, Dutch MPs have voted to stop landlords issuing two-year rental
contracts, which were first introduced in 2016, and an associated member’s bill is now going through

Average Monthly Rents in Amsterdam

After marked rental value rises in March, the Amsterdam market has cooled slightly. Three of the four
properties Klippa monitors have dropped in value. Only a one-bedroom apartment in Amsterdam’s city
centre is more expensive to rent this month – up from €1,613.24 pcm to €1,627.69 pcm. Larger
properties and those in the city’s suburbs all cost less to rent in April. A one-bedroom apartment in the
Amsterdam suburbs is €10 cheaper to rent in April, with a new value of €1,414.38 pcm. A three-
bedroom apartment in the suburbs has dipped back under the €2,000 mark, and now costs €1,985.94
pcm. Tenants will also pay a reduced amount for a three-bedroom city centre apartment, down from
€2,730.75 pcm to €2,683.19 pcm.

Paris Rental Market Latest

Street in Paris at night with cafes and a guests at tables
Paris, France

According to the latest figures from Insee, the average rent in metropolitan France rose at an average of
1.4% between October 2022 and January 2023. In the private sector of the Paris conurbation, the rise
was 1.5%, and 1.2% in the province. In the short term, Paris’s rents are relatively stable with small gains
and losses recorded on a month-by-month basis. While rents were up in March, they have fallen a little
in April.

Average Monthly Rents in Paris

New tenants securing a rental property in Paris during April found it marginally cheaper than in March,
with all four property types monitored by Klippa Relocation dropping in value. A one-bedroom
apartment in the centre of the French capital has fallen in cost from €1,311.56 pcm to €1,303.62 pcm. A
bigger fall was attached to the price of a three-bedroom city centre apartment – nudging downwards
from €2,934.32 pcm to €2,822.89 pcm. There was also better value outside of central Paris. A three-
bedroom apartment in the suburbs now costs €1,907.78 pcm, compared to €1,928.82 pcm in March. A
one-bedroom apartment in the suburbs is €15 cheaper to rent now at €937.44 pcm – down from
€952.62 pcm.

Need to Secure a Rental Property?

Klippa Relocation has established agents working across London, Amsterdam and Paris. We have enviable relationships with each city’s leading real estate agents and property finders, so please get in touch if you need help with the local rental market.

*Average monthly rental figures, expressed in Euros & taken from Numbeo, 28th April 2023

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