Inhabited by scarcely more than 20,000 residents (i.e. 1% of Paris’ population), the 2nd arrondissement is no big weight on the property market in terms of volume. But in terms of prestige, it can boast historic sites like the Bibliothèque nationale de France at 5 Rue Vivienne, and the former Stock Exchange on Place de la Bourse, the famous Palais Brongniart, now a congress and events centre dedicated to innovation. And while it may be almost entirely devoid of green spaces due to a lack of available land, apart from Square Louvois and Square Jacques-Bidault, the 2nd arrondissement has both an architectural and cultural heritage as well as an events scene that have drawn aficionados for generations!
In addition to the above-mentioned institutions, the 2nd arrondissement is home to theatres such as Les Variétés, Bouffes-Parisiens and Michodière (to name but a few), which continue to uphold the noble tradition of boulevard theatre, the legendary Grand Rex, the last XXL cinema in Paris with its 2,700 seats, and the arrondissement’s famed covered passages connecting boulevards via arcades alternating boutiques, art galleries, bistros and restaurants. The most well-known include Galerie Vivienne, Passage des Panoramas and Passage du Caire. A reflection of a Paris many believe forgotten, almost like a time capsule set to Haussmann’s 19th century.
Bourgeois apartments and post-industrial lofts
Another hotspot is Sentier, a district spanning out from the eponymous street which was a tailoring, textile and leather-working district up until the end of the 20th century. A universe immortalised in the film trilogy La Vérité si je mens, produced by Thomas Gilou between 1997 and 2012. Sentier is nowadays a focal point for many start-ups thanks to its central position near Les Halles and the size of the premises left vacant by the relocation of the textile industry. A whole new generation has thus taken an interest in the area, bringing with them trendy boutiques and restaurants based on original concepts.
How does all that impact real estate? Naturally the 2nd arrondissement is not the first choice for families with children looking to buy or rent an apartment, due to its lack of green spaces. But the fast-paced community life along its narrow streets and wide boulevards, centred around Montorgueil market and Place de la Bourse with its market, holds a strong attraction, not to mention its unparalleled cultural life. Supply covers a broad range between typical Haussmannian bourgeois apartments with oak flooring, mouldings and fireplaces in each room, lofts in former industrial buildings or clothes factories, and studio apartments under the roofs. So what about prices? An upward trend has taken hold since the revival of the 2nd arrondissement, which has drawn a younger clientele. Prices are between €11,000 and €12,000 per sq.m for apartments measuring around 100 sq.m (1,076 sq ft) and can reach more for prestigious addresses like Rue Volney, near Place Vendôme, and the northern part of Place des Victoires, which the 2nd arrondissement shares with the 1st. The clientele is mainly French, but many foreign buyers with a good knowledge of Paris are interested in acquiring a luxury pied-à-terre in the 2nd arrondissement. Which will only boost its popularity in the medium and long term.
In the 2nd arrondissement, real estate combines heritage with creative energy. This vibrant district is ideal for young professionals or investors looking to buy property in central Paris. Nearby, the 1st arrondissement real estate market, 4th arrondissement investment opportunities, and 8th arrondissement luxury apartments open the door to further premium choices. Discover them all via our Paris Rive Droite property listings, including the elegant 9th, 16th, and 17th arrondissements.
