3-bedroom in the 11th arrondissement: a young couple finds 58 sqm near Bastille in 4 weeks

Home Select helped a young couple acquire a 3-bedroom flat of 58 sqm in the Bastille neighborhood of the 11th arrondissement of Paris. The Home Select property hunter found the flat in 4 weeks. The price, negotiated from 545,000 euros to 520,000 euros, represents a saving of 25,000 euros, a reduction of 4.6%.

Mission summary

• Property hunter: Home Select
• Area: 11th arrondissement, Bastille / Ledru-Rollin neighborhood
• Property type: 3-bedroom apartment, 58 sqm
• Initial budget: 550,000 euros
• Asking price: 545,000 euros
• Purchase price: 520,000 euros (-4.6%)
• Search duration: 4 weeks
• Buyer profile: couple in their thirties, renting in the 11th

The project

Thomas and Claire, both in their thirties, had been renting a 2-bedroom flat on rue de la Roquette for four years. Their wish: to buy in the same neighborhood, where they had built their social and professional life. The non-negotiable criterion was a second bedroom with a view to the arrival of their first child.

With a deposit of 110,000 euros and a borrowing capacity validated by their bank at 440,000 euros, their total budget was capped at 550,000 euros. In the 11th arrondissement, this budget corresponded to a 3-bedroom flat of 50 to 60 sqm, a highly contested bracket. The couple had made three offers in two months, all rejected in favor of buyers who offered the asking price within 24 hours.

The search strategy

The Home Select property hunter regularly works in the 11th arrondissement. She knows the micro-neighborhoods street by street and is aware that the Bastille / Ledru-Rollin area offers better value for money than the Republique-Oberkampf triangle, which is more publicized but 8% to 10% more expensive per sqm.

Her strategy was to target properties on the market for more than 45 days, a sign of an initial price set too high or a perceived defect that technical analysis can put into perspective. In parallel, she activated her contacts with six local agencies specializing in the Bastille-Nation area.

Within three weeks, she had identified five properties. Two matched the brief after technical analysis. The first, well located, had general meeting minutes showing 80,000 euros of facade works voted, an unbudgeted additional cost. The second caught the couple’s attention.

The property found

A 3-bedroom flat of 58 sqm on the 3rd floor of an 1890 faubourien building, passage de la Bonne-Graine. The apartment had been renovated five years earlier: an equipped open kitchen leading to a 20 sqm living room, two bedrooms of 12 sqm and 10 sqm, and a refitted shower room. The original period parquet had been preserved and sanded.

The property had been on the market for 52 days. The property hunter identified the reason: the initial price of 565,000 euros had been reduced to 545,000 euros, but remained above market for a 3rd floor without elevator. The absence of an elevator, perceived as a drawback, was in fact an advantage for the couple: co-ownership charges reduced to 180 euros/month and no risk of costly installation works ahead.

The DPE rated D was consistent with the construction period. The double-glazed windows installed during the renovation limited heat loss. No major works were planned according to the co-ownership minutes from the last three general meetings.

The negotiation

With the property on the market for 52 days and a first price reduction already applied, the property hunter had a solid negotiation lever. She presented an offer at 510,000 euros backed by three arguments: the absence of an elevator (standard discount of 3% to 5% per floor above the 2nd), the DPE rated D, and two comparable sales, a 3-bedroom of 55 sqm sold at 8,700 euros/sqm on rue de Charonne and a 60 sqm at 9,000 euros/sqm passage Charles Dallery.

The seller proposed 530,000 euros. The agreement was reached at 520,000 euros, i.e. 8,966 euros/sqm, a price consistent with the neighborhood market for a mid-level floor without elevator. The 25,000 euros saving covered the entirety of the remaining notary fees after financing.

What this mission illustrates

Properties on the market for more than 45 days offer the best negotiation margins. The property hunter systematically targets these properties in the 11th arrondissement. A long time on the market often signals a price adjustment in progress, not necessarily a structural problem.

The absence of an elevator is not always a drawback. For a young and active couple, the 3rd floor without an elevator translates into charges reduced by 30% to 40%. This factor, often perceived negatively, creates a documented negotiation opportunity backed by price per sqm data.

Knowing the micro-neighborhoods allows you to optimize a tight budget. The passage de la Bonne-Graine, 200 meters from the Place de la Bastille, offers a quiet setting in a lively neighborhood. The property hunter regularly directs her clients to these side streets where the price per sqm can be 5% to 8% lower than the main avenues.

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