The Paris property market challenges the New York real estate market

An exhilarating wave of excitement has washed over Paris. A force of nature, Paris possesses a particularly attractive power that’s compelling more and more real estate investors to be on the lookout for exceptional properties. With a growing number of transactions, all signs point in favor of this shift becoming a long-term trend. Jean-Christophe Thouait, Deputy CEO of BARNES International, reveals the reasons behind this wind of change.

Paris poses a threat to New York, why?

In terms of real estate investments, there is a combination of factors that makes the city of Paris a major contender.

First, both French citizens and foreigners were waiting for the presidential elections to conclude, in order to determine the political and economic direction that France would take over the next five years. The result reassured investors who were on the fence and allowed the market to break out of its impasse.

Secondly, the state of international politics - particularly the Brexit crisis - have proven France’s stability. Paris is viewed as a European city where one can temporarily move (in order to observe the situation on the other side of the channel) or on a more definitive basis to benefit from a beneficial policy.

Thirdly, Paris will always remain an extraordinary and unique city. The Paris property market is incredibly dynamic, with a price range well below other international capitals. Paris is a dream city of many around the world; whether they’re in the market for a pied-à-terre, a principal, secondary or even tertiary residence. Jean-Christophe Thouait shared with us that, in 2017, more than 200 exceptional properties were sold in less than a week. That’s what we call a flash sale.

Finally, the allure of Paris, its position as a top tourist attraction, and its role in creating a number of major cultural and sporting events make it one of the most important and exciting world capitals. The 2024 Summer Olympics is the just the latest manifestation.

BARNES and its global expertise

BARNES wants the best for its clients. In order to bring them total satisfaction, BARNES has chosen to establish its agencies in very strategic areas in Paris. In this way, the teams of each agency offer clients a specialized and comprehensive expertise in their sector. Intent on optimizing communication, consultants with an expansive and qualified profile are selected to be the best liaisons and counsel to a diverse clientele.

The role of BARNES consultants is not limited to the search and sale of properties. BARNES provides its clients with a list of comprehensive services that can help realize their different projects. As consultants, they are tasked with researching the financing process (which are comprised of complex and often fundamental steps), and offer assistance with renovations of apartments and special hotels thanks to a special partnership with 'Le 3ème Bureau.” These additional services can be put in place to facilitate the sale or the after sale of a purchase. BARNES is a partner whose expertise and experience puts all the necessary tools in place to renovate and decorate, and even to research works of art.

Going above and beyond, BARNES has responded to a strong demand from its clientele and has developed a family office through BARNES Private Office for all investors who wish to optimize their real estate acquisitions in France and abroad.

By trusting in our professionalism, clients are guaranteed a customized and personalized service to guide them through their real estate search, regardless of the budget.