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00:00 Landlords had hoped to make hot profits during the Olympic period,
00:04 but with an oversaturated market, the return may just be lukewarm.
00:08 "This flat is situated in the 11th arrondissement of Paris, close to the Place de la Bastille."
00:13 Here in Paris, this 90 square metre property can fit eight people,
00:17 but costing between 350 and 550 euros a night, it has yet to be reserved at all.
00:23 The number of accommodation available in the French capital has exploded,
00:27 going from 65,000 properties available last August to 130,000 this year.
00:33 "The supply has considerably increased,
00:37 and many people have added their properties on platforms such as Airbnb or Booking.com.
00:43 As a result, prices are not going to increase by a factor of 10,
00:47 but rather by a factor of 3 or 4 for premium and luxury flats,
00:50 and ratios of 1 to 3 for more average flats."
00:53 A year ago, properties like this 56 square metre flat were listed for as high as 1,000 euros a night,
01:00 but the average nightly rate has dropped to 508 euros this April.
01:04 Even hotels in prime locations are finding that they're not filling rooms as fast as they'd have liked.
01:10 "Initially, we were hoping to triple our usual prices for this period,
01:15 but that's proving difficult to achieve, so we've decided to go for double.
01:20 We thought we'd fill our hotels more quickly and get more requests from groups,
01:24 but that hasn't been the case."
01:27 According to analysis by AirDNA, Paris' occupancy rate during the game stands at 28%,
01:33 only marginally higher than last year's 24% for the same period.