Paris 7th, a blue-ship investment
Associated with a very French art of living, noble and prestigious, the 7th is one of the capital’s most desirable arrondissements. Posting high prices - the most expensive after those in the 6th -, this district has long been a magnet for a well-heeled French clientele and foreigners with a taste for the spirit and stylishness of Paris.
With its embassies, ministries, top-notch museums (Rodin and Orsay), art-galleries, smart restaurants and its iconic Hôtel des Invalides, the 7th arrondissement represents an elegant life-style, chic and distinguished. As confirmed by Isabelle Meunier, founder and director of Saona Immobilier, an agency based in this arrondissement for the past 28 years : “The 7th is a world apart, first distinguished by its clientele : lots of politicians and bourgeois French families live here. It is an arrondissement which also boasts outstanding properties, including high-class apartments and magnificent private mansions between courtyards and gardens. There is a specific art of living in the 7th which has retained its taste for traditions, especially with reputable schools such as Paul Claudel, Sainte Clotilde, Saint Thomas d’Aquin and, of course, Sciences Po. The most sought-after neighbourhoods are Le Champs de Mars, Les Invalides and the periphery of the Luxembourg Gardens, in strong demand from a wealthy French and foreign clientele. Brazilian and English buyers focus on the 7th, together with a growing number of French ex-pats wanting to acquire a pied-à-terre here. This steady demand underpins high prices, around 20,000 euros per sq. metre, justified by the luxury and prestige of these properties, and the spectacular views of the monuments of Paris offered by some apartments. We recently sold an apartment of 153 m2 on the 2nd floor of a very handsome 18th-C. building on Rue de Varenne, for 2 M €”.
Elegant and noble from one end to the other, playing host to real treasures of historic buildings and prestigious mansions, the 7th arrondissement nevertheless allows two very different worlds to rub shoulders. Philippe Menager of the Menager & Hug agency explains : “In terms of lifestyle, one can clearly identify two “Sevenths”. First, the 7th close to the 6th, in other words, Faubourg Saint-Germain, home to the aristocracy in the 18th century, which has preserved its sublime private mansions and stately apartments between courtyards and gardens, with high ceilings and Versailles parquet floors. This is the part of the 7th known for its culture, with art galleries, bookshops and cinemas, running into the 6th arrondissement. The Rue de Seine in the 6th is pretty much as exclusive a location as the Rue de Verneuil in the 7th. This part of the 7th draws a great many foreign clients, although French buyers are also much in evidence, even when it comes to very high-end properties. The other part of the 7th is the area beyond Invalides, a completely different world : wide avenues, quieter neighbourhoods, and a clientele mainly comprised of families. Here you find more bourgeois apartments, but also some exceptional properties offering beautiful views of historic monuments. However, the part of the 7th registering the highest demand is that around Faubourg Saint-Germain, a neighbourhood unique in the world, distinctively Parisian, exercising a high level of magnetism and commanding high prices, as demonstrated by one of our latest sales, a magnificent apartment of 335 sq.m. in an 18th-century mansion, which found a new owner at 9 M €”.
The 7th arrondissement offers a diverse portfolio including outstanding properties, but also classic Haussmann apartments which, depending on the neighbourhood, fall into a rather wide price bracket. As confirmed by Ronan Lebas, director of the Stéphane Plaza Immobilier Suffren and Motte Picquet agencies : “We cover several areas in the 7th arrondissement, and in each one certain streets comprise micro-markets in themselves alone. The first area is that of the École Militaire/Champs de Mars where you find prestigious family apartments of 150-200 m2 on average, with prices starting from 15,000 € per sqm. and rising to 20,000 € per sqm., depending on their appointments. The second area is comprised of the Breteuil and Saxe neighbourhoods, bordering on the northern part of the 15th arrondissement, where the average price per sqm. is around 12,000 €. There are fewer views here, but it is a neighbourhood with lots of Haussmann buildings, which chalk up the most sales. The third zone is the very heart of the 7th arrondissement, from Rue de Grenelle to Rue Saint Dominique, with a rich array of 18th- and 19th-C. buildings, as well as quite a few residences built in the 1970’s. There are few family apartments here with large surface areas, more 1- and 2-bedroomed apartments which usually sell for around 11,000 € per sqm. Finally, the fourth and last area borders on the 6th arrondissement, the part stretching from Les Invalides to the Quai d’Orsay, one of the most expensive addresses in Paris posting an average price of 17,000 € per sq.metre, which can easily soar to 26,000 € for top-floor apartments with views of historic monuments”.
