On the right bank of the Seine River resides the 9th arrondissement, one of Paris’ smallest districts. The quarter used to be known as the centre of Parisian high society. As a result, the area boasts beautiful buildings and elegant architecture still to be enjoyed today.
It is an important arts and culture hub. The Palais Garnier hosts some of Paris’s most important operas and ballets and the Quartier Faubourg Montmartre is a very lively quarter that hosts some great festivals and cultural events.
The Trévise Theatre and the Théâtre des Nouveautés are two small theatres that curate interesting new plays for Parisian theatre goers. They are two great examples of the cultural benefits the 9th arrondissement offers to Paris. During the week and especially on the weekends, the cafés and bistros are filled with crowds elegantly dressed for a night at the theatre.
The other two administrative quarters of the 9th, Quartier de Rochechouart and de Saint-Georges, are quieter areas that offer less artistic opportunities but are filled with beautiful buildings. Staying true to the city’s famed lifestyle, the two quarters have many restaurants and bistros that offer a classic Parisian flair.
Paris is grounded in a strong culture and a guarantee of quality. Whether it is business, quality of life, local craftsmanship, hospitality or tourism, the French capital cultivates a pristine reputation by combining its culture and traditions with strong business values and growth.
Paris is a way of life. Being a Parisian goes beyond a job or even a simple nationality (most famous Parisians are actually foreigners); it is about the lifestyle. The CEO of a multinational company or an underground documentary maker will both love buying a croissant and a newspaper every day at the old news stand on their street and drinking a café on a terrace before heading to work.
Living in or buying a luxury Paris property is about more than settling in one of the most attractive and central European cities – it is also about investing in its art de vivre.
The Property Market in Paris
Property prices have dropped in Paris due to the recent economic crisis and the poor performance of the euro on a global scale. This has caused an increase in the demand for property investments and the purchasing of a Paris commercial property. Some properties, however, in desired locations such as the 17e arrondissement, have remained strong in value. With a predicted 3% drop in property value in 2015, Paris has become a buyer’s market for an investment property or a commercial property.
Luxury properties in Paris, such as big family homes in the 16e arrondissement for example, are priced at a level that is very attractive for anybody seeking to purchase a piece of the city. Near the 8e arrondissement a one-bedroom apartment starts at about €500,000. In the 9e arrondissement, a three-bedroom property is on average priced at €1,000,000. In more desirable arrondissements, properties can easily reach €5,000,000. With the number of tourists and students visiting Paris, the rental opportunities for flats are abundant and sure to be lucrative.
On average, buyers should retain about 8% of the property’s value in order to pay for the land registry’s tax, notary and various other fees incurred by purchasing a property in Paris.