15ème Arrondissement - Vaugirard Property Insight

Montparnasse Tower, Paris

Situated on the left river bank of the Seine, the 15ème arrondissement has common borders with the 6th, 7th, 14th, and 16th arrondissements. It is the most populated district of Paris but also the third biggest (720 hectares); the biggest if woodwind sections are not taken into account. It is partly residential, partly commercial and its quarters have different atmospheres.

This district was so named after the very old villageVaugirard partly located on the current arrondissement. Before the French Revolution, this area was mainly occupied by religious houses – among others the Séminaire de Saint-Sulpice - and a health’s home for children. Some characters and the annexations to the capital greatly helped to develop it.

The 15th arrondissement is the most populous and maybe most traditional of Paris. It is not so bustling as Paris reputation but offers a peaceful lifestyle. Even if not being a touristic area, it hides nice curiosities not to pass by. Besides, you can find plenty of specialized shops, for instance wine cellars. The local life there plays an important part and makes of Vaugirard a pleasant district to live in.

All arrondissements in Paris are divided into four quarters; as follow are the quarters of the 15ème arrondissement.

• Quartier Saint-Lambert: it corresponds to the former Vaugirard village, named after a bishop. Is has several sites worth to be mentioned: the parc Georges Brassens and the square Saint-Lambert but also the Saint-Lambert de Vaugirard church which has given its name to the quarter. The exhibition centre of Porte de Versailles is also located in this area.
• Quartier Necker: this quarter has recently been renovated around the station area. It is a mix between the ancient Paris and the annexed one; therefore slight differences in the landscape are still to be seen. It houses several hospitals, notably Necker – Enfants Malades. The Montparnasse station and the Institut Pasteur - foundation dedicated to medical research as well as museum - are also part of this district.
• Quartier Grenelle: what used to be the village of Grenelle stayed scarcely inhabited for long. This former warren developed only in the 19th century, when the industrial Violet decided to settle there an industrial town. Today this quarter is for a big part commercial, with notably Beaugrenelle. This latter, also called Front-de-Seine, is a residential and commercial area having the highest buildings of Paris.
• Quartier Javel: Javel used to be the main industrial centre of the arrondissement. It is notably here that bleach was invented and first manufactured. Today, it is home of the Georges Pompidou hospital, numerous television studios and of the parc André-Citroën, a peaceful green area where you can take a jaunt in hot-air ballon. In the south stands Aquaboulevard, a vast leisure complex. A heliport also stands in the circular highway.

Click here for more info about the Architecture of Paris Ile de France.

15ème Arrondissement – Vaugirard Immobilier & Property Market Trends

After ten years’ increase, Paris real estate market has stabilized this last year. Available dwellings are more numerous in the south and the 15th arrondissement follows this trend. Due to its privileged location, property prices are quite high. Nevertheless with an average buying price of €6,470 /sq m in mid-2009, it still remains below the capital average (€7,024 /sq m).

Property prices can vary according to the quarter. Real estate is generally more affordable in the south whereas the heart of the arrondissement is very asked for and consequently has higher prices. With about €6,300 /sq m, Saint-Lambert and Javel are the cheapest quarters and Necker the most expensive one (€6,930 /sq m); the most sought-after area is around the Champ de Mars. If you opt for an apartment with view on the Tour Eiffel, the price tend to soar.

Characterized by upscale apartments, the housing stock is however varied. You can come across Haussmann buildings as well as properties in cut stones or bricks. The average area is 70 sq m and large flats are difficult to find. The proximity of international institutions like the Unesco makes this district very sought-after from the foreign custom. It is therefore a good place to invest in. Besides, the renting price (€24.63 /sq m /month) is twice higher than the national average. This leads to good buy-to-let opportunities, all the more so as Paris has a constant strong demand of rentals.

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 15ème Arrondissement – Vaugirard

• La Ruche: this city of artists accounts for some sixty workshops. Behind a huge iron gate hides an unsuspected paradise, one of the most important artistic centre of the 20th century. It welcomed among others Modigliani, Brancusi and Chagall. It is not open to the public anymore; but if you go around, you will maybe meet an artist and be one of the privileged to discover this blissful place.

• Aquaboulevard: an amazing leisure complex. With its 7,000 sq m, its water park is one of the biggest in Europe. This oasis of waves, slides and exotic trees is much appreciated by the Parisians. The complex furthermore nestles other facilities offering activities such as fitness, squash, bowling, tennis... Besides, the 2,500 seat cinema invites you to come watching worldwide movies.

• Tour Montparnasse: this famous skyscraper is the highest of France. Inaugurated in 1973 and often criticized, it has become a landmark of the capital and one of the most visited monuments. It mostly nestles companies; only the terrace and the 56th storey are open to the public. This floor can partly be rented to organize private events. Its best asset is without any doubt the stunning panoramic vista on Paris it offers.

• Paris Porte de Versailles: the biggest French exhibition centre. It nestles diverse fairs like book fairs, agricultural shows or video games fairs. Its 220,000 sq m welcome each year about 6 million visitors. Its most famous event is the Foire de Paris, which allows you to walk around different shows (house & environment, well-being & leisure, cultures of the world) in a convivial atmosphere each spring.