Real Estate : campaign seduces but does not sell

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Real Estate : campaign seduces but does not sell

A real corner of paradise in the hustle and bustle of Paris, a timeless space is emerging at the Bagnolet Gate. Composed of 92 houses, the district of the Campagne, original and unique in its kind, offers an air of nature.

However, sales are scarce. In spite of the reverie that this place can bring, its location poses a problem. Indeed, "no one wants to put more than two million euros into a house in the heart of the 20th arrondissement," says David Prazowski, director of the Sotheby's du Marais agency. Potential buyers correspond to a very small part of the clientele.

A neighborhood with unique architecture

Although there was only one sale in 2019, the neighborhood, for example, seduced the former President of the French Republic, François Hollande, who bought a house there. "Campagne in Paris is unique from an architectural point of view, it can't be compared to any other neighborhood," explains David Prazowski. This point is underlined on the one hand by the exclusive presence of the house, but also by its bucolic charm, reminiscent, as its name suggests, of the countryside.

One could have imagined that the confinement would boost sales in this neighborhood. In fact, the presence of gardens could have seduced customers in search of greenery. But this is not the only condition, Parisians want to get away from Paris and prefer to buy in the French Riviera or Normandy. "We have people from the west of Paris, who have spent the confinement in apartments, who look to the east, where prices are lower, to have a house and a garden while staying in Paris," recalls David Prazowski in the face of an average of 10,000 euros per square meter in Campagne.

Finally, this neighborhood has double-edged advantages. Being in a working-class district, which can seduce some rich owners but also repel some. Also, the schools are not at the same level as in other Parisian neighborhoods, which rules out a certain number of potential buyers.


Find the full article here.

Paris West Sotheby's International Realty, specialist in luxury real estate in Paris
 

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