Due to a ban in the Paris region of Ile-de-France on renting energy-intensive properties, about half of the homes in the region will not be eligible to be rented out.
A study by the INSEE and the Institut Paris Région that was published this week shows that around 43 per cent of the homes in the Paris region fall into three energy classes that will be banned from being rented out in the next 12 years.
Under the Climate and Resilience Act, the most energy-consuming homes will be banned from rental starting in January of next year, while those that fall into three categories, G, F, and E, will be banned from rental in 2025, 2028, and 2034, respectively, broadcaster BFMTV reports.
The study published this week revealed that in 2018, 45 per cent of all the homes in the region fell into one of the three categories, while the rate for privately-owned rental properties rose to 55 per cent. Socially-run housing fared much better, however, at just 29 per cent.
Part of the reason so many private homes fall into the banned categories is due to the owners being unable to finance the renovations needed to make their homes more energy efficient, while others would not be able to afford the increase in rental costs the renovations would lead to.
As of August owners of homes classified as in the F or G class have been banned from increasing the rent of their properties as well. Those who have a G classification and a home that uses more than 450 kWh/m2 per year will also be banned from renting their property after a tenant leaves starting next year.
The looming energy crisis across Europe is affecting many countries, including France, where a host of the country’s mayors warned President Emmanuel Macron earlier this week that growing energy costs of up to 400 per cent could drive the country “into a wall.”
Follow Chris Tomlinson on Twitter at @TomlinsonCJ or email at ctomlinson(at)breitbart.com.