A thirty-something couple bought a 58 m² 3-room flat in need of full renovation near the Canal Saint-Martin, Paris 10th, for 430,000 euros. Catherine Ziegler, property hunter at Home Select, saw the flat’s potential, costed the works at 70,000 euros and negotiated the price from 475,000 down to 430,000 euros, a 9.5% reduction. Once renovated, the flat is valued at 580,000 euros.
Mission details
- Property hunter: Catherine Ziegler
- Area: Paris 10th, Canal Saint-Martin / Jacques Bonsergent
- Property type: 3-room, 58 m², 2nd floor without elevator
- Initial budget: 550,000 euros (purchase + renovation)
- Listed price: 475,000 euros
- Negotiated price: 430,000 euros (-9.5%)
- Actual renovation budget: 70,000 euros (1,207 euros/m²)
- Total cost: 500,000 euros (purchase + renovation, excluding notary fees)
- Estimated post-renovation value: 580,000 euros
- Search duration: 8 weeks
- Buyer profile: thirty-something couple, second purchase
The project
This couple were selling their 2-room in the 19th arrondissement and looking for a 3-room for the first child on the way. Their total budget of 550,000 euros covered both purchase and renovation. Rather than chase a flat in perfect condition at that price, which would have confined them to outlying neighbourhoods, they took the opposite tack: buy a flat to renovate in a sought-after area and create value through the works.
The 10th, around the Canal Saint-Martin, was their first choice. Renovated 3-rooms there were trading around 10,000 euros/m², beyond their budget as things stood. But unrenovated flats, often passed over by buyers in a hurry, were selling at discounts of 15 to 25%.
The search strategy
Catherine Ziegler took an approach tailored to renovation properties. Each viewing included a methodical technical assessment: the state of load-bearing walls (whether rooms could be reconfigured), wear in the plumbing and wiring, the quality of parquet beneath the floor coverings, and the scope for more light once partitions came down.
Catherine works with a network of partner contractors who provide quick preliminary estimates, sometimes within 48 hours, so an offer can be made with figures behind it before the flat sells.
The search targeted flats in original 1970s-to-1980s condition, with boxed-in rooms and dated layouts. These hold the most potential: opened up and renovated, they gain light and value.
The property found
A 58 m² 3-room on the 2nd floor of a 1900 building, no lift. The flat had not been touched in thirty years: a closed-off 1990s kitchen, a worn-out bathroom, carpet over the floor (period parquet beneath), and plasterboard partitions that had created a dark corridor and a tiny 7 m² bedroom.
The potential, though, was plain: load-bearing walls only around the perimeter (a free hand on the layout), salvageable old oak parquet under the carpet, two street-facing windows, a 2.85-metre ceiling height and a spot 3 minutes from the Canal Saint-Martin.
Catherine called in a partner contractor for a 48-hour preliminary estimate: the full renovation (reconfiguring into 2 proper bedrooms plus an open-plan kitchen and living area, a complete electrical and plumbing overhaul, a new bathroom and sanding the parquet) came to 70,000 euros.
The negotiation
The asking price of 475,000 euros worked out at 8,190 euros/m² in its current state. The renovated market price near the Canal Saint-Martin was around 10,000 euros/m², putting the post-renovation value at roughly 580,000 euros. The deal therefore stacked up if the purchase price fell far enough.
Catherine put forward an offer of 420,000 euros backed by three things: the 70,000 euro renovation estimate, DVF comparables for unrenovated flats in the area (7,200-7,800 euros/m²), and the flat’s F-rated energy performance certificate, a future regulatory constraint. After two rounds, the parties settled at 430,000 euros (7,414 euros/m²).
In summary: purchase 430,000 euros plus renovation 70,000 euros, a total of 500,000 euros excluding notary fees. Estimated post-renovation value: 580,000 euros. A gross value creation of 80,000 euros.
What this mission illustrates
Buying to renovate is a powerful way to build wealth in Paris. The price gap between an unrenovated flat and a renovated one in the same neighbourhood can reach 20 to 25%. When the cost of the works comes in below that discount, the buyer creates value from day one. It is a strategy our hunters know well, with a contractor network that supplies quick estimates before an offer goes in.
The 10th rewards buyers with nerve. The Canal Saint-Martin is one of the liveliest parts of Paris, with steady appreciation over ten years. But renovated flats there are dear and scarce. Unrenovated ones, overlooked by buyers who cannot judge the work involved, are the best value in the 10th arrondissement.
Technical judgement is what separates a property hunter from a mere finder. An estate agent sells what is there. A property hunter sees what could be there. The ability to picture a renovated flat in a run-down one, and to put a price on that projection, is expertise only an experienced professional brings.
Looking for a high-potential flat in Paris? Our property hunters spot renovation opportunities, cost the works and negotiate the purchase price. Describe your project
Frequently asked questions
Is it profitable to buy an apartment to renovate in Paris?
Yes, provided you control the renovation budget. An apartment requiring renovation sells at 15 to 25% below the renovated market price in Paris. With a properly budgeted renovation (1,200 to 1,800 euros/m² for a full renovation), the operation is financially advantageous if the purchase discount exceeds the renovation cost. A property hunter evaluates this equation before each viewing.
How do you estimate the renovation cost of a Parisian apartment?
Indicative ranges in 2026: cosmetic refresh (paint, floors) 400-600 euros/m², intermediate renovation (kitchen, bathroom, electrics) 800-1,200 euros/m², full renovation (layout changes, plumbing, everything redone) 1,200-1,800 euros/m². These figures vary depending on the initial condition, floor level (site access) and co-ownership constraints.
Can a property hunter assess renovation needs during a viewing?
An experienced property hunter assesses the main items during the viewing: electrical condition (NF C 15-100 standards), plumbing (lead, surface-mounted or concealed), load-bearing walls (layout change potential or not), windows, and insulation. They identify mandatory works (code compliance, energy performance) and improvement works. For precise costings, they connect the buyer with their partner contractors before the preliminary contract.
How was this 3-room in the 10th negotiated down by 45,000 euros?
Listed at 475,000 euros (8,190 euros/m2), the flat was bought for 430,000 euros (7,414 euros/m2), a 45,000 euro saving of 9.5%. The Home Select buying agent backed an opening offer of 420,000 euros with three points: the 70,000 euro renovation estimate, DVF comparables for unrenovated flats in the area (7,200 to 7,800 euros/m2) and the flat's F-rated energy certificate, a future regulatory constraint. The parties settled at 430,000 euros after two rounds. Home Select's average negotiation is 6% off the seller's price.
