3ème Arrondissement - Temple Property Insight

Place des Vosges, Paris

The 3rd arrondissement is located in the heart of the historical centre of Paris on the right bank of the Seine River. It is also adjacent to the 10th and 11th arrondissements. It was created during the 14th century, when Charles V decided to extend the town and to build a surrounding wall around it. Its name, the Temple is derived from the Templiers, who have left their stamp on the arrondissement.

With 34,721 inhabitants, it accounts for 1.6 % of the Parisian population. A big part of this arrondissement is residential and belongs to the northern part of the famous & trendy Marais; a quarter which is not administrative but historical. The arrondissement du Temple is the 2nd smallest department of Paris but has preserved plenty of testimonials from the past while being a lively and dynamic quarter.

This arrondissement’s activity is based upon traditional industries, the leather industry for instance accounts for 21% of the Parisian one. Typical small restaurants and cafés are of course also to be found in whole slew. It is currently living a wind of change with new services developing such as advertising, fashion, design or also in vogue restaurants.

All arrondissements in Paris are divided into four quarters; as follow are the quarters of the 3rd arrondissement:

• Quartier Arts-et-Métiers: it is thus named thanks to the Conservatory of Arts and Crafts located in the area. A former abbey, it is today dedicated to provide high education and to promote science and industry. Manufacture was there traditionally centralized, which makes it a district somewhat shaper. It however nestles nice ancient monuments, like an Hôtel Louis XV in Saint-Martin boulevard.
• Quartier Enfants-Rouges: this quarter is very popular mostly thanks to the Marché du Temple. This high iron construction is home of no less than 2,400 shops. Besides, numerous hotels present interesting styles, especially in the Rue des Archives and the Rue Portefoin. In this district used to stand an hospital taking in orphans wearing red uniforms, hence its name.
• Quartier Archives: it has the particularity to give the idea of a provincial town. In this quarter stand the national archives and the Bibilothèque de Paris. Its richness lies in the fact that it has plenty of ancient monuments to admire, such as the former cloister of the Minimes. The Rue des Francs-Bourgeois is lined with ancient houses.
• Quartier Sainte-Avoye: it was the centre of the “little industry of Paris”. Impressive façades of the 18th century are still to be seen. In this quarter stands amongst others the former house of Nicolas Flamel, a famous Parisian alchemist and writer. The Rue Chapon and Rue du Temple with their ancient houses worth the visit.

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

3ème Arrondissement - Temple Immobilier & Property Market Trends

Belonging to the historical centre of Paris, the 3rd arrondissement is one of the most demanded and therefore most expensive arrondissement. It is mainly residential and has become very trendy for both its commercial and uptown sides. Indeed, luxury shops are more and more numerous. The Marais counts the highest prices.

While real estate prices tend to fall worldwide, in Paris only the increase in prices has slowed down. The average buying price for this arrondissement is €7,198 /sq m, which is slightly higher than the Paris average. It can be explained by its location in the heart of the historical centre but also because of its nature both cultural and commercial making of it a very popular place to live.

Besides, it is the arrondissement where the most ancient buildings are to be found, going back to the 17th century. It nestles beautiful apartment and houses as well as a lot of town houses such as the Hôtel de Montmorency or the Hôtel de Marle. Several streets – e.g. the Rue de Montmorency - have housed the French nobility and are now very coveted.

The 3rd district is the right place to find a new home in a typical ancient Parisian property. As trendy quarter, investments in terms of buy-to-let can also be very profitable. All the more so the average rental price reaches €28.96 /sq m. If it stands around the Paris average, it is still more than twice higher than the national average.

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 3ème Arrondissement - Temple

• Architectural heritage: the 3rd arrondissement has plenty of ancient impressive town houses and properties. Besides, lots of stunning roofed alleys have remained and some of the administrative buildings are located in ancient monuments, e.g. the Museum of Arts and Crafts is in a former priory church. The Quartier de l’Horloge for its part presents a modern architecture. The mix of these different styles makes this area particularly charming.

• Conviviality: contrarily to its bad image, Paris can be very friendly and the 3rd arrondissement especially. It offers plenty of restaurants, tiny parks, cafés and pubs nice to stop in. There are also some pleasant regular markets which gather a harmonious crowd of different ages. Some places like the Carreau du Temple are warm meeting points. The pace is more pedestrian and allows you to fully enjoy the Parisian lifestyle.

• Open spaces: the town council has implemented a policy to develop the green areas, and it has been fruitful. Parks and squares are to be found at almost each block, not to mention the numerous private gardens within museums and town houses. This burst of nature in Paris is a real breath of pure air.

• Art lover: the 3rd district nestles several museums to visit. The Musée Carnavalet is the memory of Paris and recounts its history, but the most famous is the Musée Picasso. The Temple arrondissement also promotes creation with cultural centres and notably the Conservatory of Arts and Crafts. Furthermore, it is the hangout of numerous artists. It explains why there are plenty of art galleries, mostly about contemporary art.