Young retirees: a 78 sqm 4-bedroom with balcony for 695,000 euros in the 12th

A couple of young retirees from Bordeaux acquired a 78 sqm 4-bedroom apartment with a continuous balcony in the 12th arrondissement of Paris, for 695,000 euros, after a negotiation of 40,000 euros (5.4%). Marie Esmieu-Fournel, property hunter at Home Select, conducted this search in 6 weeks.

Mission overview

• Property hunter: Marie Esmieu-Fournel, property hunter at Home Select
• Area: Daumesnil / Nation, Paris 12th
• Property type: 4-bedroom apartment, 78 sqm, 5th floor with elevator, continuous balcony
• Initial budget: 750,000 euros
• Negotiated price: 695,000 euros (listed at 735,000 euros)
• Search duration: 6 weeks
• Buyer profile: Young retiree couple, aged 63 and 61, relocating from the provinces

The project

Francois and Martine had just retired in Bordeaux and wanted to move closer to their children and grandchildren living in Paris. Their Bordeaux house was on the market and they had a comfortable budget with no need for a mortgage. Their criteria were precise: a bright apartment with outdoor space, an elevator as a must, a lively neighborhood with local shops, and easy access to public transport. The 12th arrondissement, which they knew from family visits, matched their expectations perfectly.

The search strategy

Marie Esmieu-Fournel focused her prospecting on the Daumesnil, Nation and Picpus corridor, an area of the 12th that combines neighborhood life, green spaces with the proximity of the Bois de Vincennes, and excellent transport links (metro lines 1, 2, 6, 8 and RER A). The requirement for a balcony or terrace significantly reduced the available stock. Marie set up automated monitoring on property portals and contacted local agencies in parallel to identify upcoming listings. She also targeted buildings from the 1960s-1970s, which are more likely to have balconies than Haussmannian construction.

The property found

The selected apartment is in a well-maintained 1968 building, on the 5th floor with elevator. Its 78 sqm comprise a 28 sqm living room opening onto an 8 sqm south-west facing continuous balcony, two bedrooms of 13 and 11 sqm, an 8 sqm study, a fitted kitchen and a bathroom. The highlight: a clear view over the rooftops of Paris and exceptional natural light from the dual aspect. Co-ownership charges are 220 euros per month, with a works fund already provisioned.

Marie organized the visit on a Saturday morning to coincide with the couple’s trip to Paris. Francois and Martine confirmed their choice the same day.

The negotiation

The asking price was 735,000 euros, or 9,423 euros/sqm. Marie documented comparable transactions in the neighborhood at 8,700-9,100 euros/sqm for similar properties with balcony. The offer was positioned at 685,000 euros, supported by the absence of a financing contingency, a powerful argument for the seller. The agreement was reached at 695,000 euros (8,910 euros/sqm), a saving of 40,000 euros. The preliminary contract was signed within ten days.

What this mission illustrates

Purchasing without a financing contingency is a powerful negotiation lever. Francois and Martine were funding from their own resources. This financial strength allowed Marie to negotiate 5.4% off the price, as the seller eliminated all risk of a mortgage refusal. Retired buyers often have this advantage.

Knowledge of the housing stock by construction decade saves time. By targeting 1960s-1970s buildings, Marie knew the balcony requirement would be more easily met. This expertise avoids weeks of fruitless visits in older buildings.

The 12th arrondissement offers remarkable value for money for retirees. Shops, green spaces, transport, nearby hospitals: the 12th ticks every box for a neighborhood suited to this stage of life, at prices 25 to 35% lower than the historic Left Bank.

---

Preparing your retirement in Paris? Contact Home Select to be guided by a property hunter who understands your needs.