Thibault Chanel : “Things have changed.”

“While property markets in the provinces are exploding in both medium-sized towns and rural areas, Paris is losing its lustre with a slowdown in transactions, hesitant buyers, prices that are too high, and living conditions of lower quality.” Meet Thibault Chanel, now at the helm of three agencies in Paris.

Less demand, more availabilities and buyers who opt more easily to live in the near suburbs or even in the provinces : post-Covid, requirements have changed. Thibault Chanel confirms this setback in the Parisian market :

“Contrary to provincial towns, Paris has been through a difficult time in 2020 and 2021. In the spring, we had lots of visits to our agencies but few transactions were completed. Buyers could not make up their minds, they were scared. Since September, with massive vaccination and the epidemic apparently losing its grip, buyers are becoming more confident, though even if the market is simmering again, it is not yet effervescent.

An iconic figure popular with the media, Thibault Chanel was one of the first apartment-hunters in Paris. In 2014, he launched his first agency in Le Marais, doubled up in 2017 with a second branch in the 10th arrondissement, and set off in July 2019 to conquer the east side of Paris, opening his third agency on Rue de Belleville. Thibault Chanel Immobilier, 14 rue du Roi de Sicile, Paris 4 (01 44 82 54 84). 24, rue Yves Tourdic, Paris 10 (01 48 03 29 33) et 97 rue de Belleville, Paris 19 (01 49 70 67 50).

In a smart 1930’s brick building close to the Place des Rigoles and Village Jourdain, this very appealing family apartment of 89 m² is comprised of a double living-room with a semi-open kitchen and two good-sized bedrooms. 905.000 €.

In a quiet spot in “La Métairie”, a remarkable old industrial building with listed steel beams signed Gustave Eiffel, this magnificent split-level loft of 112 ² offers a spacious reception room, a TV lounge on the mezzanine, 2 bedrooms. Vendu à 1.395.000 €.

Occupying the 2^nd and 3^rd floors of a freestone building in the Saint Ambroise neighbourhood of the 11^th arrondissement, this split-level family apartment of 112 m² has been renovated throughout by an architect. It offers a charming living-room with an open kitchen giving onto a balcony running its length, a study, and 2 bedrooms including a Master. Two cellars complete the property. 1.390.000 €.

The problem is that prices are still very high. Star properties on upper floors with lifts, outdoor areas and lovely views, are, of course, still worth their weight in gold and sell quickly, but this type of property is not characteristic of Parisian real estate. Apartments which do not benefit from these assets are struggling to find takers. This summer, we had a very lovely apartment of 175 m2 in Le Marais on offer at 15,000 € per sq. metre, but it needed restructuring and refurbishment : it is still up for sale”.

New requirements, special attention paid to a quality lifestyle, the need for space and nature…, Paris does not tick all these boxes.“It is clear to see that Paris has been accumulating nuisances for quite some time, and is seeing deterioration in many respects,” says Thibault Chanel. “Traffic conditions have become much more difficult, the streets are dirty, delinquency is on the rise, all things that cool the enthusiasm of buyers also confronted by prices that are still very high.

The city’s policy should be brought into question. Even so, we should remember that property markets are cyclical and that the Parisian market had soared in the previous few years, before seeing these changes and losing its attractiveness to the advantage of outlying suburbs and provincial towns. But Paris will always be Paris !”.