Paris: Pigalle has become the “melting pot” of the French capital city
The neighbourhood has made a virtue out of its defects
The Moulin Rouge is a tourist neighbourhood in the Paris district of Pigalle. It is known for being the birth place of can-can dance, for its cabarets painted by Toulouse Lautrec and Picasso, for its vibrant – but sometimes sordid – nightlife.
The Pigalle has not lost its dark side, but it has made a virtue out of its defects and becoming an interesting real estate investment destination. Its late-night atmosphere has become its main attraction. It is like a little village in a chaotic city, a bohemian refuge where artists who earn their livings in the street, new middle class people and respectable families live together. Musicians, painters, doctors or lawyers, bohemians or middle class people, young and old people, singles or families share their lives in one of the most heterogeneous neighbourhoods in the capital city.
The Pigalle is the “melting pot” of Paris. The real estate market is very rich and very active. It is the gem of the district of Montmartre in the 18th arrondissement. It is the neighbourhood with the most vibrant real estate movement in Paris and with the highest rate of sales in the city.
The neighbourhood is the cheapest one in Paris. Burlesque theatres mix with bourgeois buildings. Big apartments offer views over the busy street. Prices, here, range between 7,000 and 9,000 €/sq.m. depending on the floor on which they are located and the view they offer.
Abbesses is the most sought-after area. Buyers, here, are represented by high-budgeted lawyers and doctors and young artists who enjoy the cultural vitality of the streets. Abbesses is located on the top of the hill of Montmartre and preserves the essence of rural life of yesteryear. It is like a little village inside the metropolis, which makes the neighbourhood one of the most demanded areas in Paris. The demand, indeed, overcomes the supply. Prices for studios and 20-to-40 sq.m. apartments are comprised between 9,000 and 13,000 euros per square metre.
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