Rue Montorgueil, 2nd Arrondissement, Photo by Wikipedia

Second to None: Rue Montorgueil

French Property Insider
Volume IX, Issue 27
July 7, 2011
Paris, France
FrenchPropertyInsider.com

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Bonjour French Property Insider Subscriber,

HGTV's House Hunters International returns to Paris this weekend to film the final part to a fourth episode in which we participated -- a story surrounding a single mother from Los Angeles who purchased a two-bedroom apartment in the 2nd arrondissement, just a few steps from rue Montorgueil. This is Paris' oldest open-air shopping street and one of the newest/hottest spots in the City of Light.

In a Web site devoted to the district, the history of the area is described as dating back to the 12th-century when King Philippe Auguste converted the marshland into fields (Les Petits Champs) and at that time, rue Montorgueil was known as rue Comtesse d'Artois. The king was astute and progressive, creating coverings to protect the merchants' wares and rue Montorgueil flourished as a shopping street. The name changed during the French Revolution resulting from the words Mont Orgueil (Mount Pride), because a tree was planted in its highest part to celebrate the Revolution.

Last night I was in the district seeking a restaurant in which to dine. Most of the eating establishments were filled to the brim at 8 p.m. and the entire area around rue Montorgueil and the surrounding pedestrian streets were buzzing with activity. This district is one of the more colorful in the city, bordered on the east by the traditional Red Light District (rue Saint-Denis), on the south by Les Halles, on the west by the financial district (La Bourse) and on the north by the garment district (Le Sentier). It's mix of residents lends itself to an eclectic slice of Parisian life centering their affairs around the market street.

The current gentrification of the area is rapidly changing its character and moving it up, up, up on the scale of elegant living. As prices are increasing, the undesirable elements are decreasing and thanks to the central proximity of the district, it's sure to become one of the hippest spots in which a Parisian can be.

According to meilleursagents.com, the average per square meter price in the district is 9,060€, but anyone in the industry can tell you that is about 20% lower than the current market -- and apartments in the Montorgueil vicinity are selling quickly. In adjacent districts, prices are higher -- 10,615€/m2 in the 1st and 9,921€/m2 in the 3rd.

Vacation rental apartments are becoming more popular as tourists are catching on to the area's charm. Aside from rue Montorgueil, one can visit the Tour Jean-Sans-Peur, the historic headquarters of the Paris Stock Exchange (Bourse de Paris), the Opéra Comique and the Bibliothèque Nationale de France...among others including the adjacent Eglise Saint-Eustache and Les Halles.

The apartment which is the subject to the latest House Hunters International episode has just been renovated by Interior Architect Martine di Mattéo and the family is moving in -- that's the focus of the filming this coming weekend. When it's scheduled to air we'll be sure to let you know! Meanwhile, consider the 2nd district as potentially your new home away from home and plan on watching our latest episode airing tomorrow which takes place in Normandy...scroll up for details.

A bientôt,

Adrian Leeds
Editor, French Property Insider

(with Mimi Chiang, HGTV Subject and Apartment Owner in the 2nd District)

Email: fpi@adrianleeds.com

P.S. Be sure to join us Tuesday, July 12th at Parler Paris Après Midi when author Jeffrey Greene talks about "The Burgundy You Probably Don't Know: A Talk, Short Reading, and Illustrated Tour." Scroll down for more details.