Sunday, March 18, 2012

Rentals way ahead of inflation and salary rises

According to a report published this weekend by INSEE, one in five French people are spending more than 30% of their income on housing, making it their number one cost and up to 40% in the private sector, leaving those on the lowest wages (the French SMIC) with around 600 euros a month to spend on living costs after paying their rent. 

Particularly hardest hit are those living in rented accommodation, where average rents have risen by 17% between 2005 and 2010 - ahead of inflation at 8% and average wage and salary rises of 7.2%.

Source: Aurélie Lebelle 17 March 2012.