Young retirees: a 78 sqm four-room flat with balcony for 695,000 euros in the 12th

A couple of young retirees from Bordeaux bought a 78 sqm four-room flat with a run of 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, ran the search in 6 weeks.

Mission overview

• Property hunter: Marie Esmieu-Fournel, property hunter at Home Select
• Area: Daumesnil / Nation, Paris 12th
• Property type: four-room flat, 78 sqm, 5th floor with lift, run of 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

François and Martine had just retired in Bordeaux and wanted to be nearer their children and grandchildren in Paris. Their Bordeaux house was on the market and their budget was comfortable, with no need for a mortgage. Their criteria were precise: a bright flat with outdoor space, a lift as a must, a lively neighbourhood with local shops, and easy access to public transport. The 12th, which they knew from family visits, matched their hopes perfectly.

The search strategy

Marie Esmieu-Fournel concentrated on the Daumesnil, Nation and Picpus corridor, a part of the 12th that combines neighbourhood life, green space near the Bois de Vincennes, and excellent transport (metro lines 1, 2, 6, 8 and RER A). The balcony or terrace requirement sharply cut the available stock. Marie set up automated monitoring on the portals and, in parallel, contacted local agencies to hear of upcoming listings. She also focused on 1960s and 1970s buildings, which are more likely to have balconies than Haussmannian construction.

The property found

The flat they chose is in a well-kept 1968 building, on the 5th floor with lift. Its 78 sqm hold a 28 sqm living room opening onto an 8 sqm south-west-facing run of 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 Paris rooftops and exceptional light from the dual aspect. Co-ownership charges are 220 euros a month, with a works fund already in place.

Marie arranged the viewing for a Saturday morning to fit the couple’s trip to Paris. François and Martine confirmed their choice the same day.

The negotiation

The asking price was 735,000 euros, or 9,423 euros/sqm. Marie set out comparable local sales at 8,700-9,100 euros/sqm for similar properties with a balcony. The offer was pitched at 685,000 euros, backed by the absence of a financing condition, a strong argument for the seller. Agreement came 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

Buying with no financing condition is a powerful lever. François and Martine were funding from their own resources. That financial strength let Marie negotiate 5.4% off the price, since the seller faced no risk of a mortgage refusal. Retired buyers often have this advantage.

Knowing the stock by decade of construction saves time. By focusing on 1960s and 1970s buildings, Marie knew the balcony requirement would be easier to meet. That knowledge spares weeks of fruitless viewings in older buildings.

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

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