We investigate the ultrafast response of crystalline Ge2Sb2Te5 nanoparticles (NPs) below the phase transformation threshold fluence. The observed rapid change of the optical response and the presence of coherent optical phonons are consistent with the relaxation dynamics in bulk Ge2Sb2Te5 films and, more importantly, occur within the same ultrafast timescales. We conclude that the benefit of the lower energy consumption of memories based on Ge-Sb-Te (GST) NPs aggregates, demonstrated by Casarin et al. (2018), occurs with no disadvantage, as the read/write speed can be as fast as in bulk GSTs.