Since 5 June, the implementation of the new bioclimatic local zoning plan (PLU) has been transforming the Paris property market. This overhaul aims first and foremost to rebalance city centres, giving a predominant place to green spaces and vegetation.
This PLU carries various projects, including an objective of fairness in the city centre aimed at redistributing housing in a balanced way, so that lower-income populations can return to the heart of the city.
01The new rules for housing
The provisions on housing require the creation of a functional mix in favour of residential use. Any conversion, extension or change of use requires, after works, a residential floor area representing more than 11% of the actual floor area, with a minimum of 500 m². The introduction of 611 new sites reserved for housing entails dedicating a portion of floor area to residential use, with a set share for social or affordable housing.
02The constraints on commercial premises and offices
Conversions to offices are restricted, with a strong incentive for active travel: a minimum of 7% of the floor area must be devoted to bicycle storage or parking spaces. The PLU prohibits high-rise buildings above 37 metres, except for housing-related exceptions, and strictly regulates logistics activities, which are permitted only on non-residential land.
03The property implications
Since the introduction of this PLU, the Paris property landscape has been undergoing a profound transformation. The objective is clear: to rebalance city centres by promoting vegetation and fairness in housing. The strict criteria for new construction, major renovations or changes of use call for careful adaptation of valuations: the value of an office building or a commercial unit now also depends on what the PLU allows, or prohibits, to be done with it.
The future of urban property lies in valuation that is attentive to environmental, social and economic issues, incorporating the new constraints of the bioclimatic PLU.
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