Agence Varenne : your dreams have an address
Long-established on the Left Bank where the first agency was founded in 1991, the Agence Varenne pursued its development on the Right Bank by opening a branch on Avenue George V four years ago. Closely monitoring trends on the Parisian market, the agency also covers the niche market comprised of highly-prized communes on the west side of Paris. Encounter with the group’s co-founder, Hugues de la Morandière...
Faced by a market undergoing many changes, the Agence Varenne is turning its attention to the west side of Paris and Greater Paris, as explained by Hugues de la Morandière : “The significant rise in prices in Paris intra-muros is breaking down the psychological barrier created by the Périphérique (ring-road). In the wake of Boulogne and Neuilly, other communes near Paris such as Saint-Cloud, Meudon, Sèvres, Versailles and Saint-Germain-en-Laye are increasingly popular among families in search of space, houses and gardens. Well-served by public transport, with international schools and high-end properties, these communes offer quality living conditions. In parallel, we are witnessing growing mobility in the capital’s active population with more and more people keeping a small petit pied-à-terre in Paris intra-muros for work days, but opting for houses more than an hour from Paris to enjoy a serene setting far from urban frenzy. With Greater Paris and its infrastructures, mobility is on the rise, and the capital is accelerating its horizontal development”. With regard to the evolution in prices, Hugues de la Morandière points out that : “Everyone had anticipated a slowdown for 2019 which finally did not appear. This year, we have seen the same advance in prices as last year, and 2019 will again be a record year. Several factors explain the rise : borrowing rates at their lowest, which reinforce buying power, then uncertainty and the “wait-and-see” attitude caused by Brexit, all working in France’s favour. The market is also completing its catch-up phase, with Paris in the process of attaining the level of world-cities like New York, London, Singapore and Hong Kong. Furthermore, high commercial tension between China and the USA also benefits Europe, hoisting Paris to the top end of the list of cities in which to invest. Finally, free access to sales references, on-line estimates and clients’ opinions create transparency, and thus responsiveness from buyers and sellers. This is a breakthrough moment for the Parisian market”.
Agence Varenne 6e, 7 place Saint-Sulpice, Paris 6. Agence Varenne 7e, 42 rue Barbet de Jouy, Paris 7. Agence Varenne 8e, 14 avenue George V, Paris 8. www.agencevarenne.fr
