Pied-à-terre
A pied-à-terre (; French for "foot on the ground") is a small living unit usually located in a large city some distance away from an individual's primary residence. It May Be an apartment or condominium.
The term pied-à-terre implies usage as a temporary second residence (but not a vacation home), Either for part of the year or part of the work week, by a reasonably wealthy person.
Pied-à-terres attracted discussion during the 2010s in Paris and New York, where pied-à-terres cause a reduction in the overall housing supply. In 2014, The New York Times reported 57 percent of units in midtown Manhattan were vacant over half of the year. The Times quoted a local New York State Senator, My district has some of the Most Expensive land values in the world—I’m ground zero for the issue of foreign buyers,' said State Senator Liz Krueger, whose district includes Midtown. 'I met with a developer who is building one of those billionaire buildings on 57th Street and he told me, "Don't worry, you won't need any more services, because the buyers won't be sending their kids to school here, there won’t be traffic.
As of 2010, French cities with more than 200,000 people had a minimum year-long lease on apartments to crack down on pied-à-terres being offered as short term rentals.
Pied-à-terres are also subject to regulation in Amsterdam. They are best known in the Netherlands to provide housing to politicians working in The Hague.
The term pied-à-terre implies usage as a temporary second residence (but not a vacation home), Either for part of the year or part of the work week, by a reasonably wealthy person.
Pied-à-terres attracted discussion during the 2010s in Paris and New York, where pied-à-terres cause a reduction in the overall housing supply. In 2014, The New York Times reported 57 percent of units in midtown Manhattan were vacant over half of the year. The Times quoted a local New York State Senator, My district has some of the Most Expensive land values in the world—I’m ground zero for the issue of foreign buyers,' said State Senator Liz Krueger, whose district includes Midtown. 'I met with a developer who is building one of those billionaire buildings on 57th Street and he told me, "Don't worry, you won't need any more services, because the buyers won't be sending their kids to school here, there won’t be traffic.
As of 2010, French cities with more than 200,000 people had a minimum year-long lease on apartments to crack down on pied-à-terres being offered as short term rentals.
Pied-à-terres are also subject to regulation in Amsterdam. They are best known in the Netherlands to provide housing to politicians working in The Hague.