The Avenue des Champs-Élysées is a prestigious avenue in Paris. With its cinemas, cafés, luxury specialty shops and clipped horse-chestnut trees, the Avenue des Champs-Élysées is one of the most famous streets and one of the most expensive strips of real estate in the world. The name is French for Elysian Fields, the place of the blessed dead in Greek mythology. The Avenue des Champs-Élysées is known as “The most beautiful avenue in the world”, La plus belle avenue du monde in French. The Champs-Élysées forms part of the Axe historique.
One of the principal tourist destinations in Paris, the lower part of the Champs-Élysées is bordered by greenery (Carré Marigny) and by buildings such as the Théâtre Marigny and the Grand Palais (containing the Palais de la Découverte). The Élysée Palace is slightly to the north, but not on the avenue itself. Further to the west, the avenue is lined with cinemas, cafés and restaurants, and luxury specialty shops. The Champs-Élysées ends at the Arc de Triomphe, built by Napoleon Bonaparte to honour his victories.
Because of the high rents, few people live on the Champs-Élysées; the upper stories tend to be occupied by offices. Rents are particularly high on the north side of the Avenue, because of better exposure to sunlight. The baroque-influenced regular architecture of the grandiose Champs-Élysées is typical of the Haussmann boulevard architecture of the Second Empire and Third Republic. The Avenue is located right next to the Palais de l’Élysée, the presidential palace, with its rounded gate, and the Grand Palais, erected in the late 19th century. While walking among the gardens and tree-lined promenades one can even encounter an open-air marionette theatre for children, a French tradition popular through the ages.
The Avenue is also one of the most famous streets in the world for upscale shopping. Adidas, Benetton, the Disney Store, Nike, Zara, Cartier, Bel Air Fashion, Toyota, continental Europe’s largest Gap, and Sephora occupy major spaces. Traditionally home to popular brands, as well as luxury brands Louis Vuitton, Hugo Boss, Lancel, Guerlain, Lacoste, Hôtel de la Païva, Élysée Palace and Fouquet’s, the Avenue des Champs-Élysées confirms its world-class appeal as a prime real estate location: it has lately seen the opening of new big upscale shops such as the biggest Adidas store in the world.
The arrival of global chain stores in recent years has strikingly changed its character, and in a first effort to stem these changes, the City of Paris (which has called this trend “banalisation”) decided in 2007 to prohibit the Swedish clothing chain H&M from opening a store on the Avenue, however an H&M store has been open since 6 October 2009. In 2008, American clothing chain Abercrombie & Fitch was given permission to open a store.
[responsivevoice_button voice="UK English Female" buttontext="Listen to this Post"](Latest update: 22 August 2022) First, there is not THE real estate market - not national and certainly not international. In fact, the market situation is very fragmented due to the general conditions, in other words, many individual markets, collectively referred to as "the market". Metropolitan Area A faces different challenges than Metropolitan Area B and Metropolitan Area C can not even understand what A and B are talking about. Where there is comparability, is the housing situation in the "affordable segme...
