2eme Arrondissement - Bourse Property Insight
This is the smallest district of Paris out of 20. It used to house the Paris Stock Exchange (Bourse) located in the famous Place de la Bourse. The financial quarter is situated on the right bank of the River Seine and is home to the Cinema Rex, Jean-sans-Peur Tower and the Bibliothèque Nationale de France- site Richelieu. Its two neighbouring arrondissements are the 8th and the 9th. Its population accounts for about 1% of the total Parisian population (21,418 inhabitants in 2009).
At the heart of the historical centre of Paris, the 2nd district is well served by the Parisian underground network. The Métro lines are connected to the 7th and 12th arrondissements.
Administratively, the 2nd is divided into four quarters:
- Quartier Gaillon: 1,400 inhabitants. It is named after a former town house and gate. Its main street Rue de la Paix is one of the most beautiful of Paris. The Crédit Lyonnais bank building is also situated in this quarter.
- Quartier Vivienne: 3,000 inhabitants. Here are the Stock Exchange and the Galerie Vivienne, the best preserved gallerie. The latter is a passage i.e. a covered area lined with beautiful designer and craftsman shops (Jean-Paul Gaultier and Yuki Torii amongst others). Far from the noise and continuous traffic, they have the charm of a haven of peace. Admire the 19th century glass roofs. The arcade has been listed as an historical monument since 1974. Haute couture shows take place there. Other monuments not to be missed: Notre-Dame des Victoires 17th century basilica and Opéra-Comique theatre.
- Quartier Mail: 5,800 inhabitants. This quarter houses the Place des Victoires, renowned for being a fashionable area. Its name dates back Louis 14 reign: the square was indeed dedicated to its victories. At the heart of the round square, you can see a statute of him. The area is part of the French historical monuments.
- Quartier Bonne Nouvelle: 9,600 inhabitants. Its name comes from the eponymous church. Visit Jean sans Peur tower: it was named after the Burgundy Duke (John the Fearless). He had his mansion house fortified to protect himself during the Armagnac-Burgundian civil war he provoked.
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2eme Arrondissement - Bourse Immobilier & Property Market Trends
Property prices in Paris cannot be compared to the national average and to the other 21 regions of France. Prices need to be analyzed separately and also vary depending on the arrondissement. The most expensive districts are, as we can imagine, all located in the historical centre of Paris. This includes the first eight arrondissements as well as the 16th.
The current economic crisis could let us think that even in the French capital property prices are decreasing. This is not true for all the arrondissements, at least in July 2009. Before investing in one of them, investors are advised to analyze the real estate market in the district they are interested in. Changes and regeneration are major assets which could help increasing the value of a property.
As far as apartments are concerned, you should plan to invest about €7,430 / sq m in the second arrondissement. It ranks the 8th position out of the 20 districts. You should find a property which will match your budget. Bonne Nouvelle, Les Poissonnières or Sentier are dynamic areas ideal for those who are looking for a lively quarter. Saint Honoré, Richelieu, Drouot, Gaillon, Vivienne, Mail and Montorgeuil however are more dedicated to people looking for luxury properties.
The arrondissement 2 offers tall prestigious buildings which were built for textile making and press purposes at the beginning of the 20th century. Architects used metallic structures, in general hidden by stone front facades, but which however allow having large picture windows. They are indeed well adapted as regards luminosity for these activities.
To get updated info about the property prices in Paris, please browse our French Property Market Reports published in the News Section every month.
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Characteristics of the 2eme Arrondissement - Bourse
Stock Exchange: originally, the negotiation was made in the historical building called Palais Brongniart in the form of auction. It has become entirely electronic since 1990. The Bourse then relocated and the district is now the financial activity lung of the 19th century. The building is also the general headquarter of numerous banks.
Neighbouring districts: the 2nd arrondissement of Paris is adjacent to the 8th and the 9th districts where culture plays an important role. Indeed, two great opera houses are very close and will let you attend gorgeous shows. The renowned Opéra Garnier has an eclectic architectural style. Definitely worth seeing!
Le Sentier: this is a famous textile district. A large part of the French fashion is sewed there. Since the 19th century, buildings have been constructed in order to receive a better daylight (glass roofs). The quarter now welcomes more and more companies specialized in multimedia and especially in the Internet, explaining why it is nicknamed Silicon Sentier.
The National Library: Richelieu’s area houses gorgeous specialized collections and welcomes graphic art and photography exhibitions. A must-visit is the cabinet des médailles.
Montorgueil is famous for its market: in this lively street you will smell like a yesteryear perfume with its old shops, traditional boutiques and the wonderful cake shop called Stohrer.
Place du Caire and its passage are worth seeing. After Napoleon I of France’s expedition and Egypt in 1798, the streets in this quarter were given Egyptian names and decorations. The area is famous for making dummies.