It’s no secret, 2020 reshuffled the deck in the luxury property sector in Paris. The village life, family-friendly micro-neighbourhoods, outdoor spaces, greenery and lower prices are all drawing buyers to the arrondissements east of the traditional markets. A major shift, deciphered by SoBARNES.
The 11th, 12th and 20th arrondissements: the new centre of the Right Bank
“We are seeing a stampede to the east!”, says Sébastien Mouton, director of BARNES Paris-Est, responsible for the 11th, 12th and 20th arrondissements. In particularly because prices in the Marais, which has built its reputation as the market star in less than 10 years, are stabilising between €16,000 and €18,000 per sq.m. Making it financially inaccessible to a large proportion of the clientèle, even those more wealthy, leading to a run-off effect in the arrondissements further out. Priced between €11,000 and €13,000 per sq.m, neighbourhoods like Saint-Ambroise and Square Gardette (11th), Square Trousseau and Marché d’Aligre (12th) represent an attractive alternative, notably for young couples looking for their first apartment.
Neighbourhood to watch: The Faidherbe quarter, in the 11th arrondissement, for its village feel that residents are so fond of, around Rue Chanzy and Rue Paul-Bert and their shops.
Are the 10th and 19th arrondissements the sound investments of the future?
Aderald van Luipen, Director of BARNES Paris 10/19, draws the same conclusion: “Some districts where it would have been unthinkable to propose luxury properties 4 or 5 years ago are now given serious consideration by the hip clientèle, who tend to be already Parisian”. Although the popularity of the 10th arrondissement dipped before the arrival of the pandemic, it appears that the 19th has come out of 2020 and its disruptions on the Paris property market on top. “Unlike the rest of Paris, it is still possible to find small houses here for around one million euros, which attracts young couples with young children”, explains Aderald van Luipen.
Neighbourhoods to watch: Paris 19, La Butte-Bergeyre, nicknamed “little Montmartre”, or Rue Manin, for the magnificent Haussmannian buildings facing the Buttes-Chaumont park. Paris 10, the streets perpendicular to the Canal Saint-Martin, like Rue de Beaurepaire and Rue de Marseille, for the superb architecture of their buildings. Rue Martel, for its former urban factories rehabilitated into residential housing.
The 13th arrondissement plays on its Left Bank sprint
Let’s head to the Left Bank with Julien Meguidech, Director of BARNES Panthéon, responsible for the 13th arrondissement: “The luxury market is currently concentrated in a few neighbourhoods in the arrondissement, particularly the famous Butte-aux-Cailles, and Les Gobelins and Port-Royal further north, on the edge of the 5th arrondissement”. A shift has been seen in recent years, with buyers no longer hesitating to cross the psychological border between the city’s 5th and 13th arrondissements, resulting in a sharp price rise in the latter.
And the 13th arrondissement has an ace up its sleeve in this context: buyers often come for the first time by default, because they don't have the budget to property hunt in the centre of Paris. But they’re quickly won over by the possibility of several balconies or a terrace, or even a garden. Just as they appreciate the wide tree-lined avenues and the numerous green spaces.
Neighbourhoods to watch: Les Peupliers, between Maison Blanche and Tolbiac, for its townhouses with small gardens. Boulevard Arago, considered by Julien Meguidech as “the new El Dorado for hedonists”, occupying a central position at the intersection of the 5th, 13th and 14th arrondissements.
Photo © Adobe Stock / Studio Laure
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Contacts :
BARNES Paris-Est : +33 (0)1 84 25 51 90 / Barnes-paris.com
BARNES Paris Xe/XIXe : + 33 (0)1 86 26 71 88 / Barnes-international.com
BARNES Panthéon : +33 (0)1 84 55 11 35 / Barnes-international.com
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