Montparnasse Furnished Rents Hit €40/m², Outpacing Unfurnished by 29%

The gap between furnished and unfurnished rental prices in Montparnasse has stretched to €9/m², with furnished properties commanding an average of €40/m² compared with €31/m² for bare apartments, according to market data from Doorfeed and HousingTarget. The 3.44% rent increase recorded in April 2025 has added further pressure on tenants, with 73 apartments currently listed for rent across the neighbourhood.

Why the spread matters

Montparnasse sits well above the wider 14ème arrondissement average of €31.4/m². That premium reflects the area's concentration of short-term corporate lets and serviced apartments, but it also masks a structural problem. The Paris rental market overall suffers from a shortage of unfurnished properties while the furnished segment is in oversupply, a dynamic that leaves many traditional tenants chasing too few bare apartments. For landlords, the arithmetic is clear: furnished units yield a higher per-square-metre return, but they also turn over faster and require more maintenance between tenancies.

The imbalance has direct effects on the ground. A tenant looking for a long-term unfurnished home in Montparnasse faces a tight pool of options, while those willing to take a furnished flat have more choice but pay a distinct premium. Industry data from BNP Paribas Real Estate and CHALLENGES confirms that the 14ème remains one of Paris's more affordable arrondissements for purchase, yet the rental arithmetic works differently: the furnished premium is loading extra costs onto tenants who may not want or need a fully equipped unit.

Who feels the squeeze

Landlords operating in the unfurnished segment are experiencing a seller's market. With supply constrained, they can maintain relatively high occupancy and push rents upward. But they also face the opportunity cost of not converting to the furnished format and capturing that €9/m² margin. Meanwhile, tenants hunting for unfurnished stock often find themselves competing against corporate tenants and relocation agencies that snap up the best bare apartments quickly.

The Eiffel Housing analysis of the Paris rental landscape notes that the city's overall vacancy rate remains extremely low-between 1% and 2%-which means that even a small change in supply or demand can have outsized effects on rents. In Montparnasse, where the office-to-residential conversion pipeline has been modest, the existing residential stock is under constant pressure from both permanent residents and transient professionals who prefer the convenience of furnished accommodation.

Practical implications for the months ahead

For tenants weighing a move to Montparnasse, the furnished-versus-unfurnished decision carries a real cost. A 50m² furnished apartment at €40/m² works out at €2,000 per month; the same property unfurnished would be roughly €1,550. That 29% markup is the price of convenience, but it also pushes the neighbourhood beyond reach of many households earning median Parisian incomes.

Landlords evaluating their portfolios should note that the furnished oversupply could eventually cap further rent growth in that segment, especially as more investors target the short-term let market. The unfurnished shortage, by contrast, shows no sign of easing, suggesting that bare apartments will continue to command stable occupancy and steady, if slower, rental appreciation. The 3.44% April 2025 increase provides a baseline: if demand from corporate tenants and international assignees remains robust, Montparnasse rents could push higher still, but the ceiling will depend on how quickly the unfurnished pipeline responds.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.