PARIS LEFT BANK, THE CHIC 7th ARRONDISSEMENT
Securing the N°2 position after the 6th in the rankings of the most expensive arrondissements in Paris, the elegant 7th has preserved its special aura and its power of attraction. From Faubourg Saint-Germain to the Champ-de-Mars via the Esplanade of Les Invalides, historic private mansions and vast, prestigious apartments are coveted by wealthy buyers ready to part with several million euros in order to reside in these highly desirable neighbourhoods.
With serious assets to appeal to Paris lovers, the peaceful 7th arrondissement cultivates its elegance and fetches high prices, as Philippe Menager of the Philippe Menager & Nicolas Hug agency explains: «Prices have been on the rise again over the past six months in Paris. Confidence in the future and optimism have been restored as a result of the presidential election, and Paris remains competitive with regard to other world capitals. In the 7th the market is active and growing, with prices that have increased by about 15% and now range between 18,000 and 30,000 euros per square metre, and may even reach 40,000 for the very top-end properties. The distinctive feature of the 7th district is its strong appeal, particularly the livelier section bordering on the 6th, which attracts a wealthy, stylish clientele in love with its culture, lifestyle, architecture and the fact that all the places of interest can be reached on foot from here. The other 7th, which extends from the Invalides to the Eiffel Tower, mostly appeals to a French family clientele and to foreigners who enjoy the well maintained freestone buildings with concierge and parking and the large apartments with amazing views. This section of the 7th also attracts buyers interested in the right bank, since both areas share some common characteristics.”
Renowned for its real estate comprised of sublime private mansions and magnificent family apartments, the 7th arrondissement gives priority to the Haussmann style, offering the bonus of spectacular views of the most splendid landmarks in Paris. “In this arrondissement, some appartments on high floors enjoy truly stunning views,” says Raja Zghighad of the Groupe Mobilis. “The Eiffel Tower, of course, but also the Hôtel Matignon, the Esplanade of Les Invalides, the Musée de l’Armée, Champ-de-Mars… We recently sold a superb family apartment of 178 m2 offering a sweeping view of Place Breteuil, for 2,250,000 €.” The 7th posts very low turnover, but sales that can be spectacular : “The private mansion we are currently proposing for sale is exceptional for several reasons : its large garden, high-quality appointments, its quietness and top-notch security. For this type of property, Chinese clients, previously keen on the Right Bank, have recently developed a marked interest in the best neighbourhoods on the Left Bank. Alongside Americans and Italians traditionally present in this area, and French residents living here for several generations, one now rediscovers a Middle Eastern clientele not as devoted as before to the 8th and 16th arrondissements. At the start of 2018, the Groupe Mobilis will in fact inaugurate an agency at 26 rue du Bac to meet this growing demand, but also to benefit from a flagship address on the Left Bank and pursue its development”, says the specialist.