The 4th arrondissement is one of the oldest quarters in Paris. In addition, it is one of the most popular areas among tourists. The area is often called the Hôtel de Ville arrondissement, or Le Marais (a common mistake as Le Marais shares its borders with the 3e arrondissement and it is not an arrondissement itself). The 4th is the heart of Paris and houses some of the most iconic mon-uments of the city.
Each of the four administrative quarters of the 4th have their own historical monuments to celebrate. Quartier Saint-Merri is where the Hôtel de Ville sits, one of the most symbolic monuments for Paris. The area is car-free and people can enjoy streets lined with buildings dating back to the 14th, 15th and 16th centuries.
Quartier Saint-Gervais is the most populated and dense area of the 4th. Most houses and mansions can be found around there. Quartier de l’Arsenal is home to the Arsenal Harbour and one of the more important libraries in Paris, the Arsenal Library.
Lastly, Quartier Notre-Dame is made up of the two natural small islands, Île de la Cité and Île Saint-Louis. Plenty of hotels and old mansions can be found on the two islands, and of course Notre Dame cathedral.Le Marais is not considered an administrative quarter, but a historical one. While it shares borders with the 3e arrondissement, the more lively and exciting part of Le Marais is in the 4th. It has a large Jewish and gay community and the numerous bars and restaurants cater to some of the most flamboyant characters in the city.
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.