7.5 percent of homes in the French capital have no one living in them.
In an effort to increase its supply of affordable housing, Paris is tripling the property tax on vacant homes to 60 percent.
Cities worldwide face the obstacle of an "artificial shortage" of housing created in part by vacation homes, owned the wealthiest residents, that sit empty all year, says Better Dwelling. To be precise, Paris has 107,000 vacant homes—representing 7.5 percent of all residences in the city.
Paris first started taxing vacant property in 2015 to "discourage the use of city center homes for secondary residences." This drastic increase is controversial, reports Better Dwelling.
Local developers have argued that more new construction is the solution. However … It appears the city believes they have 107,000 reasons more construction is not the solution.
FULL STORY: Vacant Homes Are A Global Epidemic, And Paris Is Fighting It With A 60% Tax
A New Housing Affordability Hurdle: Property Taxes
Skyrocketing home values are driving up property tax bills, putting lower-income homeowners at risk of losing their homes.
Eurostar Temporarily Closing Two High-Speed Rail Routes
Eurostar is temporarily closing routes from London to Disneyland Paris and London to Amsterdam.
Paris Approves First Aerial Gondola
An aerial tramway project in the French capital cleared feasibility studies and could open in 2025.
Depopulation Patterns Get Weird
A recent ranking of “declining” cities heavily features some of the most expensive cities in the country — including New York City and a half-dozen in the San Francisco Bay Area.
California Exodus: Population Drops Below 39 Million
Never mind the 40 million that demographers predicted the Golden State would reach by 2018. The state's population dipped below 39 million to 38.965 million last July, according to Census data released in March, the lowest since 2015.
Chicago to Turn High-Rise Offices into Housing
Four commercial buildings in the Chicago Loop have been approved for redevelopment into housing in a bid to revitalize the city’s downtown post-pandemic.
Google Maps Introduces New Transit, EV Features
It will now be easier to find electric car charging stations and transit options.
Ohio Lawmakers Propose Incentivizing Housing Production
A proposed bill would take a carrot approach to stimulating housing production through a grant program that would reward cities that implement pro-housing policies.
Chicago Awarded $2M Reconnecting Communities Grant
Community advocates say the city’s plan may not do enough to reverse the negative impacts of a major expressway.
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Barrett Planning Group LLC
HUD's Office of Policy Development and Research
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