With 35,000 people living in the area, most properties are residential although the area also houses some great artistic and intellectual institutions. The northern part of Le Marais, which is the quieter one, is included within the limits of the 3rd arrondissement.
Quartier Arts-et-Métiers and Quartier Archives are two quarters characterised by an intellectual flair. The Conservatory of Arts & Craft and the Bibliothèque de Paris (Paris Library) are ‘residents' of the area. The two institutions are dedicated to providing higher education and promoting sciences throughout the city. Following the influence of these two institutions, there is a large concentration of arts and science businesses in the neighbourhood. For that reason, the arrondissement generally feels more intellectual and sophisticated than its counterparts.
Quartier des Enfants-Rouges is a popular and lively quarter thanks to the Marché du Temple. The district has more than 2,400 shops and restaurants. Lastly, the Quartier Sainte-Avoye is largely quiet and home to some notable houses such as Nicolas Flamel’s home. Two main streets such as Rue Chapon and Rue du Temple show an impressive array of ancient houses that are beautifully preserved.
The 3rd arrondissement sees an influx of tourists wandering the streets during the weekends; however, in general, it is a residential neighbourhood and a quiet place to live.
The 3rd arrondissement is among the most expensive quarters in the Paris property market, with some properties being the most in demand throughout the city. Several streets in the neighbourhood have housed French nobility and are now revered by Parisians and expats alike.
A 3rd arrondissement property for sale with one bedroom in the northern part of the Marais, of less than 50 sq m, is generally priced higher than €650,000. While the area sees some spectacular houses with buildings that date back to the 17th century, the prices adjust accordingly and can surpass the €2,000,000 price point. For a commercial property in the 3rd, the competition is increasing and available properties are rare.
The demand for renting apartments in the area is quite high, thus making a Paris property investment in the 3rd right now quite a good idea. Parisians appreciate the safety of the area and the proximity to the centre of Paris.
GET – a seat at the Conservatory of Arts and Crafts and learn about art from the best cultural hub in the city.
DO – taste the food in the stalls of le Marché des Enfants Rouges, which is the oldest market in Paris (established in 1628), followed by some shopping in the well-curated boutiques scattered in the streets around the market.
SEE – the Cloître des Carmes Billettes. It dates back to 1427, and is the only intact cloister in Paris. Despite the plain exterior, the interior houses some incredible gothic architecture and a good selection of art pieces.