Walled city, seafront and ferry port: Saint-Malo attracts investors, but more than one home in four is a second home and short-term letting is subject to quotas. Prices, rents, neighbourhoods, budgets and yield: what you need to know before buying in Saint-Malo from abroad.
The public indicators that matter before buying to let in Saint-Malo, each with its source.
Saint-Malo has 47,439 inhabitants according to the 2023 INSEE census. 46.6% of main residences are occupied by tenants and 51.5% of households consist of one person.
The rent map of the Ministry of Housing and ANIL gives an advertised rent of about €15.7 per m² including charges for a 1- or 2-room apartment in Saint-Malo, compared with €12.5 for 3 rooms or more.
Sales recorded in DVF show the average price per m² for apartments down 2.4% between July 2025 and June 2026 compared with the previous twelve months, with 587 apartments sold.
Vacancy stands at 5.3% of homes according to INSEE. This overall rate includes dilapidated older homes or homes under works: a renovated, well-located property at the right rent generally lets faster.
| Indicator | Value | Source |
|---|---|---|
| Median price per m² of apartments sold | €4,547/m² (2,860 sales) | DVF, statistics (data.gouv.fr), July 2021 to June 2026 |
| Average price per m² over the last 12 months | 4 567 €/m² | DVF, statistics (data.gouv.fr), July 2025 to June 2026 |
| Population | 47,439 inhabitants | INSEE, census, 2023 |
| Average annual population change | +0.5% a year (2017 to 2023) | INSEE, census, 2023 |
| Young people aged 18 to 24 in education | 1,500, i.e. 44.9% of 18-24 year olds | INSEE, census, 2023 |
| Pupils, students and trainees among 15-64 year olds | 7,3 % | INSEE, census, 2023 |
| Main residences occupied by tenants | 46,6 % | INSEE, census, 2023 |
| Single-person households | 51.5% of households | INSEE, census, 2023 |
| One-room main residences | 3,5 % | INSEE, census, 2023 |
| Vacant homes | 5.3% of the stock | INSEE, census, 2023 |
| Advertised rent, apartment of 1 or 2 rooms | €15.7/m² including charges | 2025 rent map (Ministry of Housing, ANIL), 3rd quarter of 2025 |
| Advertised rent, apartment of 3 rooms or more | €12.5/m² including charges | 2025 rent map (Ministry of Housing, ANIL), 3rd quarter of 2025 |
| Change in the average price per m² of apartments sold | −2.4% (July 2025 to June 2026, compared with the previous 12 months) | DVF, monthly statistics (data.gouv.fr), average weighted by number of sales |
| Apartment sales over 12 months | 587 sales (July 2025 to June 2026) | DVF, monthly statistics (data.gouv.fr) |
| Median rent excluding charges in the private unfurnished rental stock, Saint-Malo Agglomération | €10.6 per m², €16.2 for a one-room apartment, €12.5 for two rooms | Local rent observatory, Saint-Malo Agglomération, 2025 results |
| Second homes in the walled city (intra-muros) | 70.6% of homes (27.1% for the city) | INSEE, 2023 census by IRIS area (calculation) |
| Simultaneous authorisations for furnished tourist rentals | 370 within the walls, 920 on the seafront, 360 behind the coast and 110 in the rest of the city | City of Saint-Malo, municipal regulation of 24 April 2025 |
| Passengers at Saint-Malo station | 1.8 million in 2024, compared with 1.3 million in 2019 | SNCF Gares & Connexions |
ImmoPourExpat members who live abroad have already bought in Saint-Malo: their property and their figures. The short-term rental studio shown here was set up before the regulation of 24 April 2025: check the sector’s quota before buying for this purpose, and plan year-round letting as a fallback.
Three typical properties, at the median sale price and the town’s advertised rent: enough to place your budget before you start searching.
1 room of 27 m², the median floor area of studios sold
Market benchmark: 51.5% of households in Saint-Malo live alone, which supports demand for small units (INSEE, 2023 census).
2 rooms of 42 m², the median size of two-room apartments sold
Market benchmark: 46.6% of main residences are rented in Saint-Malo (INSEE, 2023 census).
4 rooms or more, 84 m², the median size sold
The advertised rent is an average for the town: depending on the neighbourhood, the condition of the property and its features, the rent you obtain may be higher or lower.
Median DVF sale prices from January 2025 to December 2025 in Saint-Malo. Rents estimated at the advertised rent of the 2025 rent map, including charges (€15.7 per m² for 1 or 2 rooms, €12.5 for 3 rooms or more). Notary fees estimated at 8% of the price (7 to 8% for older properties according to the French notaries). Gross yield compares annual rent with the purchase price, excluding costs and charges.
Saint-Malo brings together the walled city, the Paramé seafront, Saint-Servan and newer districts around the station. Here are five sectors to look at, with the quotas for furnished tourist rentals that apply to them.
Behind the ramparts, more than seven homes in ten are second homes, according to INSEE: the walled city has only 785 main residences, and slightly more than one household in two rents. Short-term letting is capped at 370 simultaneous authorisations. The castle and the fortifications are protected as historic monuments: exterior works require the approval of the Architecte des Bâtiments de France. Year-round housing is scarce here.
Along the Sillon beach and in Paramé, nearly one home in two is a second home and a third of homes are houses, according to INSEE. Only four households in ten rent, and tenants stay a long time. This coastal sector shares a quota of 920 furnished tourist rental authorisations with Saint-Servan and Rothéneuf: work out the year-round yield before buying.
In Saint-Servan, around place Bouvet and down to the port, one home in three is a second home and slightly more than one household in two rents, according to INSEE. A quarter of main residences date from before 1946. The Naye ferry terminal is at the foot of the district. Saint-Servan Nord and Ouest belong to the coastal sector, capped at 920 furnished tourist rental authorisations.
Between the station and Rocabey, seven households in ten rent and seven in ten consist of one person, according to INSEE; slightly more than half of these tenants live in social housing (HLM). Second homes account for only 19% of homes, and more than a quarter of main residences were built between 2006 and 2020. It is the sector most geared to year-round letting, close to the TGV station. Furnished tourist rentals here fall under the quota of 360 authorisations for the sector behind the coast.
To the east, Rothéneuf is a district of houses: six homes in ten are houses, and nearly half of all homes are second homes, according to INSEE. Only one household in four rents. The sector suits a house let year-round to a family; short-term letting falls under the coastal sector’s quota of 920 authorisations.
The figures on the cards come from the 2023 INSEE census, calculated from the IRIS areas that make up each sector, and the quotas from the municipal regulation of 24 April 2025. No official sale price or rent is published at neighbourhood level: compare recent sales in the street on DVF.
Working people and small households: in Saint-Malo, year-round demand comes mainly from tenants who work locally, in a city where more than one home in four is a second home.
According to the Ministry of Higher Education, the Saint-Malo IUT has 791 students and the École nationale supérieure maritime 160: student demand remains modest, and a nine-month student lease leaves the summer to fill.
According to INSEE, 16.5% of these jobs are managerial positions and 51.5% of Saint-Malo households consist of one person: small year-round homes, which are scarce, find tenants.
With Rennes 42 minutes away by train and 3 direct TGV trains a day to Paris-Montparnasse, a furnished home near the station can target employees on assignment, with a one-year lease or a mobility lease (bail mobilité).
According to INSEE, a Saint-Malo tenant stays 8.6 years on average in their home, and only 11.4% of households moved in less than two years ago: in Saint-Malo, tenants rarely move.
Sources: Ministry of Higher Education, 2025-2026 enrolment atlas; INSEE, 2023 census (municipality and IRIS); SNCF Gares & Connexions (2024); SNCF, official timetables for November 2026. Unemployment stands at 6.5% in the Saint-Malo employment area in the 2nd quarter of 2026, compared with 8.3% in France (INSEE).
In Saint-Malo, a high-demand zone (zone tendue), the first rent is free but increases are capped when re-letting. Short-term letting of a second home requires an authorisation from the city, within the limit of each sector’s quotas.
Short-term rental →| Option | In Saint-Malo | Our view |
|---|---|---|
| Unfurnished rental | Rent is free for the first letting, then capped at the previous tenant’s rent when re-letting. One month’s notice for the tenant, three-year lease: it suits houses and families who live in Saint-Malo all year round. | For a large home |
| Furnished | 51.5% of Saint-Malo households live alone, but small homes are scarce: 3.5% of main residences have only one room. A furnished studio or two-room apartment lets year-round with a one-year lease, or nine months for a student. | To prioritise |
| House share | No local rule specific to house shares, and little student demand: at the city’s advertised rent, a large home yields less than a two-room apartment (≈ 3.6% versus ≈ 4.0% gross). | Rarely suitable |
| Mobility lease | From 1 to 10 months, furnished, for a tenant in higher education, on an internship, in an apprenticeship, in vocational training, in civic service, on a job transfer or on a temporary assignment. | For a few months |
| Short-term rental | Authorisation from the city from the first night for a second home: only one per owner, for 3 years, within the limit of each sector’s quotas (370 within the walls). | Very limited |
In Saint-Malo, a high-demand tourist area, short-term letting is regulated by quotas, and the coastline brings its own risks. Check the points below before costing your project.
Saint-Malo does not apply rent control, but the Ministry of Housing classifies it as a tourist and high-demand zone. For a new lease signed between 1 August 2026 and 31 July 2027, the rent cannot exceed the previous tenant’s rent, except for the authorised annual revision and exceptions (major works, clearly undervalued rent, home vacant for more than 18 months); no increase is allowed for a home rated F or G.
For a second home, a change-of-use authorisation is required from the first night: only one per owner, individual or company, for 3 years, and only if the sector’s quota has not been reached (370 authorisations within the walls, 920 on the seafront, 360 behind the coast, 110 elsewhere), according to the municipal regulation of 24 April 2025. The energy rating (DPE) must be between A and E, and a registration number is mandatory. A main residence can be let for 120 nights a year without authorisation.
The home must remain decent: a home rated G can no longer be let under a new lease since 2025, F-rated homes will follow in 2028 and E-rated homes in 2034, according to service-public.gouv.fr. For a furnished tourist rental subject to authorisation, the energy rating (DPE) must be between A and E.
The castle and the fortifications of the walled city are protected as historic monuments: in their surroundings, works that change the exterior appearance require the approval of the Architecte des Bâtiments de France. Allow for this delay in your budget, especially for façades and windows.
A marine flooding risk prevention plan applies in Saint-Malo: it defines zones where building is prohibited and others where works are subject to requirements. Its revision began in 2025, according to Géorisques. Read the risk report (état des risques) for the address of each property before making an offer.
An unfurnished home empty for at least a year pays the tax on vacant homes: 17% of the rental value in the first year, then 34%; in 2027 it becomes the tax on vacant residential premises. A home kept for your own stays pays the residence tax on second homes, increased by 45% in Saint-Malo since 2024.
Your rents are taxed in France, whatever your country of residence. What changes is how they are treated at home and the rate of social contributions.
BelgiumFor a property held directly and let unfurnished, Belgium exempts these rents but uses them to set your tax rate. Social contributions: 7.5% if you are affiliated to Belgian social security and not dependent on any compulsory French scheme.
Investing from Belgium →
United KingdomThe United Kingdom also taxes your rents, with a credit for French income tax. The British tax authority (HMRC) includes in this credit the 7.5% solidarity levy, which is due if you are affiliated in the United Kingdom. Only the CSG and CRDS are excluded from it by the tax treaty.
Investing from the United Kingdom →
SwitzerlandSwitzerland exempts your French rents, but takes them into account for your tax rate. The 7.5% rate requires you to be covered by Swiss compulsory health insurance (LAMal) and not to be dependent on any compulsory French scheme.
Investing from Switzerland →The reduced rate depends on your affiliation, not your country: without affiliation in the European Union, the EEA, Switzerland or the United Kingdom, or if you are dependent on a compulsory French scheme, you pay the full rate.
Tax treaties by country →Rules taken from our country pages and our tax page, for 2025 income. Your exact situation depends on your affiliation and on your country’s tax treaty.
Your rents and your capital gain are taxed in France, even if you live abroad.
On resale, the tax on the capital gain is withheld by the notary, with allowances for length of ownership from the 6th year: exemption from tax after 22 years, and from social contributions after 30 years.
Depending on your situation, our strategies and the way your purchase is structured can reduce, or even neutralise, the tax: we look at them with you from the very first call.
Taxation for the expat investor →Property tax and household waste tax apply to half the cadastral rental value of the home: ask the seller for their latest notice to know the amount. Saint-Malo applies a 45% surcharge on the residence tax for second homes (2025). Sources: collectivites-locales.gouv.fr, impots.gouv.fr, notaires.fr.
Here is a simple example, for illustration purposes: a 40 m² two-room flat, at the median sale price and the average advertised rent.
| Furnished letting, micro-BIC regime | Affiliated in the EU, the EEA, Switzerland or the United Kingdom | Other cases (full rate) |
|---|---|---|
| Rents over one year | 7 536 € | 7 536 € |
| Taxable income after the 50% allowance | 3 768 € | 3 768 € |
| Income tax at the 20% minimum rate | − 754 € | − 754 € |
| Social contributions | − 283 € (7,5 %) | − 701 € (18,6 %) |
| Left after tax | 6 499 € | 6 081 € |
| Yield after tax | ≈ 3,6 % | ≈ 3,3 % |
Assumptions: furnished letting under the micro-BIC regime, 50% allowance, 20% minimum rate for non-residents (2025 income), rents received counted in full. The 7.5% rate also requires you not to be dependent on any compulsory French scheme: a retired person who receives only a French pension pays the full rate. Charges, property tax, notary fees and loan interest are not deducted: under the actual regime (régime réel), the tax can be significantly lower.
An advertised rentThe rent from the map is an advertised rent including charges, so it is higher than the rent excluding charges that you will receive.
The rent at your addressThe advertised rent is an average for the town: depending on the neighbourhood, the condition of the property and its size, the rent you obtain may be higher or lower.
Costs and chargesNotary fees, renovation works, property tax, insurance and management then reduce the net yield.
This calculation helps compare cities or properties; it does not guarantee any result.
Do you live abroad and are you looking at Saint-Malo? In 45 minutes, we tell you what is feasible with your budget, your down payment and your country of residence.
Book a call →Saint-Malo is 2 h 17 from Paris-Montparnasse by the fastest direct TGV, with 3 direct trains each weekday in each direction, and 42 minutes from Rennes, which is linked to Paris by some twenty direct trains a day. The Naye ferry terminal connects the city with England and Guernsey with Brittany Ferries.
3 direct TGV trains each weekday in each direction: 2 h 17 at best from Saint-Malo to Paris-Montparnasse, 2 h 32 in the other direction.
21 direct trains each weekday in each direction between Saint-Malo and Rennes, including 3 TGV, then some twenty direct trains a day between Rennes and Paris.
The Brittany Ferries 2026 timetable includes routes from Portsmouth and Poole to Guernsey and Saint-Malo, and winter sailings between Plymouth and Saint-Malo.
Including London, Amsterdam, Dublin, Geneva and Manchester, according to the airport’s list of routes; some are seasonal.
Timetables checked on 10 November 2026 on the official SNCF timetable (Thursday 12 and Tuesday 17 November), the Brittany Ferries 2026 timetable and the list of routes of Rennes Bretagne airport; they vary by day and season.
Only with a change-of-use authorisation, since the home is not your primary residence. According to the City, it is valid for three years, limited to one per owner, and granted only if the area’s quota has not been reached. A registration number and compatible co-ownership rules are also required. Ask the change-of-use department before signing the preliminary sale agreement.
The municipal regulation of 24 April 2025 sets a maximum number of simultaneous authorisations per sector: 370 in sector A, 920 in B, 360 in C and 110 in D. The sectors are defined from INSEE’s IRIS districts and shown on maps by the City. If your sector’s quota has been reached, the authorisation is refused.
The level of rents is not capped: Saint-Malo does not appear on the Service Public list. The city is, however, in a tight-market zone, where the framework limiting rent changes generally applies. On re-letting, the rent increase is therefore limited, except in cases provided for by law. Check your case with the official Service Public calculator before publishing the listing.
In our example, a 40 m² two-room apartment bought at the median sale price and let at the advertised rent for one- and two-room apartments yields about 4.1% gross, before charges, taxes and vacancy. This is low, because purchase prices are high: a median of €4,547 per m². The less touristy sectors, such as Rocabey or the station district, have more year-round tenants: compare prices in the street on DVF before buying.
Saint-Malo is in a tight-market zone. From the 2027 assessments, a home that has been empty for at least one year on 1 January is taxed at 17% of its cadastral rental value in the first year, then 34%, according to Service Public. The commune can vote higher rates. Occupation for more than 90 consecutive days in the previous year allows you to avoid it.
Rental income from a property located in France is taxable in France. Without an option, the minimum rate is 20% up to €29,579 of income received in 2025, then 30%, unless the average rate is more favourable to you. Social charges are added, at 17.2% for unfurnished lets or 18.6% for furnished ones, or only 7.5% if you are covered by a scheme in the EU, the EEA, Switzerland or the United Kingdom.
Yes, in the less touristy sectors. According to INSEE, more than one home in four is a second home in Saint-Malo, and more than seven in ten within the walls, but around the station and Rocabey seven households in ten rent. Tenants stay a long time: 8.6 years on average in the city.
According to sales recorded in DVF from January 2025 to December 2025, a studio sold for a median price of €127,380, a two-room apartment for a median price of €196,315 and a large home for a median price of €350,000. Allow about 8% notary fees on top for older properties, and a works budget if the energy rating is poor.
In 2026, the municipal property tax rate is 46.03%, plus 2.60% for the intermunicipality. These rates apply to half the cadastral rental value of the home: ask the seller for their latest property tax notice to know the amount.
For a 40 m² furnished two-room apartment bought for €181,880 and let for €628 a month, about 3.6% of the price remains after tax if you are covered by a scheme in the European Union, the EEA, Switzerland or the United Kingdom without depending on a mandatory French scheme, and 3.3% otherwise, under the micro-BIC regime and at the minimum rate of 20%. Charges, property tax and purchase costs are not deducted.
The capital gain is taxed in France at 19%, plus social contributions, and the notary withholds this tax at the time of sale, with an exemption from tax after 22 years and from social contributions after 30 years of ownership.
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