President Francois Hollande's plan to cap rents on new home leases in Paris will deter real estate investors while benefiting the wealthiest tenants and hurting the poorest, according to brokers.
The proposal will limit rents in the French capital to 20 per cent above and 30 per cent below a neighborhood's average, the government said June 12. The system, based on apartment size, year of construction and location, will allow surcharges for luxury homes.
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