The District VIII of Paris, also known as the Opera district, is one of the most exclusive areas in the city. Situated on the right bank of the River Seine, this neighborhood is characterized by its elegant and sophisticated architecture, wide avenues, and numerous museums and art galleries.
Considered the high fashion and luxury shopping district, District VIII houses the iconic Arc de Triomphe and the Champs-Élysées, two of Paris’ main tourist attractions. Fashion and design enthusiasts can indulge in internationally renowned stores and renowned designers in this area.
In addition to its prime location and fashion offerings, District VIII also boasts peaceful residential areas, despite its central location. This neighborhood offers a wide diversity of bars, restaurants, and other services to cater to the needs of its residents.
Furthermore, District VIII is an important financial and commercial center, hosting numerous companies, embassies, institutions, and art galleries. Following the Brexit, Paris has established itself as a financial hub of the European Union, attracting bankers and professionals in the industry who find this neighborhood an ideal place to establish their residence.
According to data from the second quarter of 2023, the average housing price in District VIII stands at 19,425€/m2. This reflects the exclusivity and prestige that characterize this neighborhood, making it one of the most coveted places to live in the Parisian capital.
Sources: Savills, Paris Residential Focus.
Definitions:
– District VIII: The eighth district of Paris.
– Arc de Triomphe: Iconic monument located in the center of Paris.
– Champs-Élysées: Emblematic avenue in Paris, known for its shops and cafes.
– Brexit: The United Kingdom’s departure from the European Union.