Paris 7th, a most elegant neighbourhood
Endowed with great assets that appeal to Paris lovers, the 7th arrondissement is renowned for the aristocratic “Faubourg Saint-Germain” district, the Invalides esplanade and the Eiffel Tower overlooking the Champ-de-Mars park. A safe investment, little affected by market fluctuations, the 7th retains high prices and attracts a wealthy clientele, both French and international.
With its prestigious neighbourhoods, great museums, historic mansions, embassies and ministries, the 7th arrondissement, situated on the chic Left Bank, is one of the most sought-after and highly priced areas of Paris. It is divided into two separate sections, as Philippe Menager of the Philippe Menager & Nicolas Hug agency explains: “The “Saint-Germain” 7th bordering on the 6th is the most appealing part of this arrondissement. It’s the Paris that fires the imagination of both French and foreigners, the historic Paris, the Paris of culture, a lively area where everything is at walking distance. Prices here average 15,000 to 25,000 € per sq.m. After a slight drop during the last few years, prices have begun to rise since January. We sold a 300 sq.m. duplex apartment lately close to the Rodin museum, for 26,000 € per sq.m. Also a 335 sq.m. property near Rue du Bac with a terrace in a landmark, 18th-century house, for 27,000 € per sq.m. We also list exceptional rentals in this area, which are in high demand. The other section of the 7th, which extends from Invalides to the Eiffel Tower, appeals mostly to families, the lifestyle here is different, the environment is quieter and more residential. There are more, large apartments available than in the other section, mostly in 19th-century buildings of the Haussmann period. We recently sold a 300 sq.m. apartment with garden opening onto the Champ-de-Mars park, requiring total renovation, for 5 million euros.”
A “safe haven” investment, unaffected by ups and downs in the property market, the 7th posts very steady prices and draws a well-heeled French and international clientele. For permanent homes or a pied-à-terre in the capital, this upper-crust arrondissement on the Left Bank is popular among Parisians and other French buyers with substantial means, as well as foreigners. As explained by Mireille Tracol of Daniel Féau Saint-Germain : “Our Saint-Germain agency mainly covers the part of the 7th stretching from the Rue des Saints-Pères as far as the Esplanade des Invalides. French buyers are particularly present on this market, especially for properties with three bedrooms or more. Mostly comprised of Americans, Australians, Italians, Irish and South-Americans, our foreign clients looking here for a pied-à-terre most often need an apartment with two bedrooms, two bathrooms, on an upper floor of a building with a lift, offering lots of light and an open view. In Paris, this part of the 7th, next door to the 6th, symbolizes the French art of living, good taste and tradition. It is a buoyant market in which you can find all kinds of properties, from tiny attic bedrooms to apartments with 4/5 main rooms and private mansions, such as one we are currently offering for sale, ideally located in the antique-dealers’ area. The high prices in these neighbourhoods, some of the most expensive in Paris, are holding steady, especially for properties of quality which find takers very rapidly. By way of example, we recently sold a very beautiful 3-bedroomed apartment of 115 m2 in perfect condition, on the Rue de l’Université, priced at 2.4 million euros”.
