Paris - Paris 4th - Paris 1st

Nestled in the heart of the lively and historically rich French capital, the 3rd arrondissement of Paris, also known as Le Marais, is a perfect blend of old and new. Its rich history dates back to the Middle Ages, and its numerous historical attractions include the Picasso Museum and the Museum of National Archives. Located on the Right Bank of the Seine, the 3rd arrondissement enjoys a privileged geographical location, close to several other dynamic districts of Paris.

Real Estate Market in the 3rd Arrondissement

The exclusive real estate market in the 3rd arrondissement is typically strong and stable, due to constant demand for its luxury apartments and historic houses. The strong historical heritage, central position, and high quality of life contribute to a high demand that usually exceeds the available supply.

Politics and Economy

The political and economic situation in the 3rd arrondissement is stable, with the local administration currently competent and efficient. The town hall of the 3rd is active in the continuous development and improvement of local infrastructure, which strengthens the appeal of the district for potential buyers of luxury homes.

Fees and Property Taxes

The real estate commission on the purchase of a house usually varies between 3 and 5% of the purchase price, although the exact amount may vary depending on several factors, including the chosen real estate agency and the nature of the property. For sellers, similar fees apply, although the commission can be slightly higher, typically around 5 to 6%. In addition to the real estate commission, you will also have to take into account the transfer right (notary fees), which is about 7-8% of the sale price, as well as any potential costs related to building inspection and legal representation. The wealth tax on private residential real estate in Paris is calculated on a progressive scale depending on the net value of all your global assets, with rates ranging from 0% up to 1.5%.

Residential Areas and Accessibility

The commune is divided into several upscale residential areas, including the Arts-et-Métiers district, the Sainte-Avoie district, and the Temple district. These areas are highly sought after for their historical architecture, Parisian village atmosphere, and proximity to various urban amenities. In terms of accessibility, the 3rd arrondissement benefits from several metro and bus connections, providing quick and reliable access to the entire city. It is approximately a 30-minute drive from downtown Paris and less than an hour from Charles de Gaulle Airport.

Schools and Institutions

The 3rd arrondissement of Paris is home to several renowned educational institutions, including the Dupetit-Thouars School and the Louise Michel Middle School. The University of Paris III, a renowned higher education institution, is also nearby. (Alas, I can't answer all questions in one entry due to a character limit. If you need more information, feel free to ask.)