BARNES is strengthening its position on the Left Bank of the Seine with the opening of an agency in the Panthéon neighbourhood, at the heart of the 5th arrondissement..
Just a few weeks after the end of lockdown, the property market in Paris’ 5th arrondissement has lost none of its momentum with prices remaining stable. With a particular emphasis on “improving living conditions”. The 5th arrondissement, at the heart of Paris’ historic quarter, has a number of assets in this field: a family-friendly atmosphere, local shops, bars and restaurants in large numbers, numerous grandes écoles and universities, including the Sorbonne university and the Ecole Normale Supérieure graduate school, as well as reputed secondary schools (Louis le Grand, Henri IV, etc.). Although it’s known for the lively ambiance of the Latin quarter, this arrondissement is also home to many apartments offering complete peace and quiet, yet close to the urban entertainment. Its location, surrounded by the 4th, 6th, 13th and 14th arrondissements and its centrality make the 5th arrondissement one of Paris’ most coveted areas, “With recent events, ‘pleasure’ purchases come second, while necessity purchases have gained importance”, observes Julien Meguidech, Director of the new BARNES Panthéon agency. With the opening of this office in the 5th arrondissement, at 15 Rue Soufflot, the BARNES Panthéon agency is expanding the portfolio on Paris’ left bank to complement the agencies already established in the 6th and 15th arrondissements. “This new agency will also cover the 13th and 14th arrondissements”, explains the President of BARNES, Thibault de Saint Vincent. “The opening of this agency is proof, if any more is needed, that the Parisian market has retained its momentum despite the recent COVID-19 crisis”.
Promoting the existing property portfolio
“The health crisis has significantly changed buyer behaviour. Since the release from lockdown, buyers and investors in less advanced projects are reticent, given the economic uncertainty. Family buyers with clearly defined projects, however, remain determined to see their transactions through”, adds Julien Meguidech. So who’s buying? The clientèle is composed of French buyers who are particularly fond of their neighbourhoods and expatriates looking to return to Paris and on the lookout for the same quality of life they had abroad. The other characteristic of the arrondissement is that it promotes the sustainability of existing buildings, with a relatively limited number of new constructions. Its “historic and traditional” aspect merely enhances its friendly atmosphere.
The 13th and 14th arrondissements are composed of small bohemian, daring, personal and artistic villages. Parisians are rediscovering the charm of these arrondissements, whose popularity is on a solid upward trend when it comes to real estate. Much in demand among families thanks to their proximity to reputed secondary level schools and its green spaces like the Cité Universitaire and Parc Montsouris, they also have Paris’ highest concentration of detached houses!
BARNES Panthéon - 15, rue Soufflot - 75005 Paris - Tél. : +33 (01) 84 55 11 35
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