The 1st arrondissement, once home to the Kings and Emperor of France, is now the heart of contemporary Paris. It is a lively tourist area with some of Paris’ most well-known landmarks: Palais du Louvre, Tuileries gardens, Palais Royale, Sainte Chapelle, Place Vendome, the historic market place, Les Halles, which has recently received a futuristic make-over, and the beautiful St Eustache Church. It also houses some of the most famous museums in the world, the Louvre, L’Orangerie and Jeu de Palme.
It is essentially a daytime area for businesses and tourists together with many high street fashion boutiques on the rue de Rivoli and Forum des Halles, while Haute Couture designers such as Yves St-Laurent and Christian Dior can be found on rue Saint-Honore. In the evenings, it is animated with a mixture of bars and restaurants such as the historic Grand Vefour, one amongst a variety catering for all tastes and budgets.
The Mairie de Paris, which has administration over the entire city, is situated here inside the spectacular Hotel de Ville. The right bank of the Seine (and a portion of the Ile de la Cité) marks its southerly border and during the month of August, you can enjoy the popular Paris Plages when a temporary beach is set up with restaurants, music, swimming pools and other attractions all along the north (right) bank of the river.
Its location within close proximity to so many historic landmarks, restaurants and world-famous museums is one of the best incentives for anyone looking to live in the first arrondissement of Paris.
Looking to invest in Paris 1st arrondissement ?
Properties here only trickle onto the market, and prices to buy apartment Paris 1st arrondissement can be extremely high in the more historic quartiers. The area is mostly associated with smaller studios and 2 or 3 roomed apartments that are much sought-after due to their central location and access to excellent transport. Larger apartments can be found in areas such as rue de Rivoli and around Sainte Honore. Architecture in this area varies greatly with Haussmanian buildings sometimes in the same street as medieval, ancien and contemporary.
The mean price per m2 in the 1st arrondissement is around 11 260€ m2 (meilleursagents), with price ranges varying greatly per area. The most expensive street being Place de Dauphine (19 843€/m2) and the least expensive, Rue Saint-Denis (9 656€/m2) (meilleursagents). Property prices around Les Halles, currently at around 10 665€/m2, are expected to increase after its recent modernisation.
The Chambre de Notaires de Paris notes that real estate prices here increased by 2.8% in the first quarter of 2017, making it an excellent investment choice if you wish to buy apartment Paris 1st arrondissement