7ème arrondissement - Palais Bourbon Property Insight

The 7th arrondissement, also called the Palais Bourbon district, was created during the 19th century when Paris was extended. It is located at the south bank of the Seine River and shares borders with the 15th arrondissement in the south, the 16th, 8th and 1st in the north, and the 6th arrondissement in the east.

The 7th arrondissement is the most aristocratic arrondissements in Paris, and is home to many symbolic monuments, such as the emblematic Eiffel Tower. It can be compared to London’s Westminster as it houses many governmental monuments, such as the Assemblée Nationale, many ministries, embassies, etc.

Many dignitaries and VIPs populate this area, and as a result you must expect high property prices. As it is one of the main touristic areas, you must also expect high prices in pubs, cafes and restaurants.

All arrondissements in Paris are divided into four quarters; as follows are the quarters of the 7 arrondissement.

• Quartier Saint-Thomas d’Aquin: it is a very aristocratic area which is home to many famous people. The quarter is also the one which houses more old prestigious hotels, nowadays transformed into Universities, private schools or offices.
• Quartier des Invalides: the quarter was named after the famous monument Hotel des Invalides. The Palais Bourbon, the Chamber of Deputies, is also to be found in this quarter. The Invalides esplanade provides a very nice walk.
• Quartier de l’Ecole-Militaire: it is a rather “cold” area which houses more administrative buildings than residential ones. A large part of the area is covered by the Military School, after which it was named. The quarter also displays some nice houses of Louis XIV, Louis XV and Louis XVI architectural style.
• Quartier du Gros-Caillou: this quarter is more lively than the precedent one, as it houses the Eiffel Tower. Before 1860 the area was a suburb with the same name. The area developed a lot thanks to the Universal Exposition and the construction of the Eiffel Tower, today incontrovertible stop and shot of Paris.

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7ème arrondissement - Palais Bourbon Immobilier & Property Market Trends

The 7th arrondissement is the second most expensive in Paris, after the 6th one (his neighbour). This can be explained by two factors: the closeness to the most expensive arrondissements, and the breathtaking views apartments of the area offer, over the Eiffel Tower and the Invalides. While the Parisian average in 2009 for a house was around €7,024/sq m, property prices in the 7th district reach €9,760/sq m.

If you cannot afford to buy a property, you can still rent an apartment; however, once again prices are prohibitive: €30.95/sq m in the area, while the Parisian average is €26.55/sq m. If you do have the funds to buy a property, then investing in this arrondissement can be a very good deal, as you will be able to let it for a good price and quick return on investment is high as demand is.

It is moreover interesting to notice that this arrondissement, along with some others, has not suffered from the real estate crisis that affected the whole world last year, in 2008. Instead of decreasing, prices kept on increasing slightly (from €9,610/sq m in 2008 to €9,760/sq m in 2009).

As we can see through the table, the most expensive quarter is Saint Thomas d’Aquin which is a very aristocratic area.

To get updated info about the property prices in Paris, please browse our French Property Market Reports published in the News Section every month.

Characteristics of the 7ème arrondissement - Palais Bourbon

• Eiffel Tower: it is the symbol of the French capital, and also one of the most famous landmarks worldwide. Having an apartment with a view over the Eiffel Tower is definitely a reference in Paris. To go up the Tower you must queue and take one or two elevators, depending how high you want to go. Once on the top you have a breathtaking panorama over the whole city.

• Other touristic monuments: the 7th arrondissement boasts other touristic monuments, also very well renowned, such as the Invalides Hotel, and the National Assembly. It also displays some beautiful museums, such as the Musée d’Orsay, which houses an Impressionist and Post Impressionist collection (the most beautiful in the world); the Musée de Quai Branly, the newest and most modern of Paris’ great museums, it displays collection of tribal art from former colonies and the Rodin Museum. The Egouts de Paris (underground sewers) are also an interesting visit not to be missed.

• Public institutions: the 7th district is also an administrative area as already mentioned. It houses the National Assembly, but also the Matignon hotel (official residence of the French Prime Minister), many Ministries: Foreign Ministry, Minister of Defense, Ministry of National Education, Minister of Social Affairs and Employment, Minister of the Environment, Ministry of Agriculture, etc. The district also houses the headquarter of the Socialist Party (Solferino street), and many embassies: Finland, Sweden, Tunisia and Poland. The UNESCO headquarter is also to be found in the arrondissement.

• Famous streets: - Boulevard des Invalides , was named after the hotel des Invalides, where the boulevard starts. It houses some important buildings, such as the Hotel des Invalides, the Victor-Duruy High School, the Conseil Regional d’Ile de France, etc. - Quai d’Orsay , is a quay situated on the left side of the Seine River. It is renowned as it houses the Foreign Ministry, commonly called as the “Quai d’Orsay”, but also the National Assembly and the Orsay Museum. - Rue de Solférino, is a prestigious street which has always houses Charles de Gaulle associations, a well as the headquarter of the Socialist Party today.

• Transport infrastructures: there are 8 underground stations in the 7th arrondissement: Bir-Hakeim (to go to Eiffel Tower) and Sevres-Babylon with the line 6, Invalides, Varenne, Ecole-Militaire, Latour Maubourg with line 8, Sevres-Babylon line 10 and the Invalides line 13. There is also the RER-C going to Invalides, Champs de Mars-Tour Eiffel and Orsay Museum.