The Élysee Palace is the official residence of the President of France. It is located in the 8th arrondissement of Paris and has been the official residence since 1848. The palace was originally built in 1718 as a private mansion for Louis Henri de La Tour d'Auvergne, the Duke of Bouillon. It was later purchased by King Louis XV and became the official residence of the French President in 1848. The palace is now used for state functions and ceremonies, and is also home to the President's private office.