4th arrondissement, the vibrant heart of Paris
With streets and neighbourhoods boasting a very rich past, the 4th arrondissement is steeped in all the historic charm of Paris. The centre of the French capital enjoys a great deal of affection, and offers an outstanding heritage and cultural assets that appeal to the French, Italians and Anglo-Saxons. A lively property market wtih a strong and steady demand…
Bordered to the west by the 1st arrondissement, to the north by the 3rd, the 4th arrondissement encompasses half of the Ile de la Cité, all of the Ile Saint-Louis and a good part of Le Marais. With its streets and neighbourhoods offering almost as many personalities, this arrondissement is a melting-pot of cultures and ambiances. “Le Marais has a very special identity, marked by a mix of diverse communities which all co-exist with a great deal of tolerance,” explains Philippe Gaudry of the Agence des Enfants Rouges. “Here you find a festive atmosphere with iconic and cheerfully crowded bars. Food shops, restaurants, boutiques and luxury stores all contribute to its constant liveliness. It is a neighbourhood with a soul which tries to resist anything “overly touristic’’ so as not to lose its charm. Our agency is in Le Marais, I have lived here for many years, and I now see buyers ready to sacrifice space in order to live here. In this area, you can live as you please, alone or as a family, quietly or exuberantly, regardless of your beliefs, going everywhere on foot, and enjoying immediate access to all aspects of culture… Real luxury consists of living conditions of very high quality, this centrality and all this diversity.” A multitude of different worlds, resulting in a broad range of prices. “The price bracket in the 4th arrondissement is extremely wide,” confirms Philippe Gaudry. “The Ile Saint-Louis and Place des Vosges pull prices upwards while other neighbourhoods are less expensive, especially the tip of Sully-Morland which is somewhat sheltered from everything, though it is beginning to show its worth. Le Marais is holding steady with prices ranging from around 10,500 to 11,000 € per sq. metre. One constant factor is that properties for sale in this arrondissement are always scarce.”
The heart of Paris can take pride in the fact that demand here outstrips supply. The wide price range is confirmed, depending on the location : “In the historic part of Le Marais, prices range from 11,000 to14,000 € per sq. metre,” says Pascale Constans, associate director of Sotheby’s International. “They are nudged up by foreign buyers who are particularly fond of this part of Paris, whereas Parisians and other French clients have recently begun to set their sights on the 3rd arrondissement. In the 4th arrondissement, the two blue-chip locations where you find outstanding properties are the Place des Vosges and the Ile Saint-Louis. On the Place des Vosges, a very small leafy square, a fine apartment with lovely high ceilings can easily attain 18,000 € per sqm, a price which can even soar above 25,000 €. We recently sold a beautiful apartment on the noble (1st) floor on the Place des Vosges to a French couple, priced at 26,000 € per sqm. On the Ile Saint-Louis, prices range from 12,000 to 15,000 € per sqm. Quayside apartments are even more expensive, especially those on the southern side : apartments here enjoy sublime views of the Seine and Notre-Dame, they are sunny and quiet. Here, there isn’t really a price bracket as such : prices are capable of soaring well over 30,000 € per sqm ! These record levels obviously concern very few properties, we are talking about a micro-market in which each precise location will have its own precise worth.”
Place des Vosges, Ile Saint-Louis, Le Marais… The charm of the 4th arrondissement derives from this array of little worlds which change so dramatically from one to the next, within just a few metres. Emmanuel de Poulpiquet of the Féau Marais agency points to the evolution undergone by this arrondissement : “When I launched Féau Marais 15 years ago, I had an intuition that Le Marais was the future Saint-Germain. Today, this intuition has been confirmed, especially with the plethora of contemporary art galleries which have sprung up in the area”. This comparison with the jewel of the Left Bank can also be applied to the clientele : “You come across the same type of clients, French and foreign intellectuals, lots of Italians and Anglo-Saxons, as well as upper middle class families from the provinces. Prices can chalk up records, especially on the Ile Saint-Louis for properties with views. Three years ago, an apartment boasting a prime location on the Ile Saint-Louis sold for 40,000 € per sqm ! The difference with Saint-Germain is that the 4th arrondissement suffers from a lack of apartments with large surface areas : properties of over 150 m2 are very rare. There are few Haussmann buildings, and large apartments are mostly to be found on the Place des Vosges and Ile Saint-Louis, though here and there you can find some really fantastic lofts and magnificent private mansions”. Ever more lively and attractive, the centre of Paris continues to undergo transformation with, however, one big question : “The main unknown factor for the coming six months is what will happen when the Quais are finally closed to traffic,” says Emmanuel de Poulpiquet. “We’re afraid of seeing a permanent jam at the very heart of Paris.”
