Home Select assisted a Bordeaux-based entrepreneur in purchasing a Parisian pied-a-terre: a 28 sqm studio in the Notre-Dame-des-Champs neighbourhood of the 6th arrondissement. The Home Select property hunter found this off-market property and negotiated it down to 310,000 euros from an estimated value of 325,000 euros. The search, conducted entirely remotely, lasted 7 weeks.
Mission summary
- Property hunter: Home Select
- Area: 6th arrondissement, Notre-Dame-des-Champs neighbourhood
- Property type: Studio, 28 sqm
- Initial budget: 350,000 euros
- Estimated price: 325,000 euros (off-market property)
- Purchase price: 310,000 euros (-4.6%)
- Search duration: 7 weeks
- Buyer profile: Entrepreneur, 52 years old, based in Bordeaux
The project
Olivier, who runs a consulting firm in Bordeaux, was spending two to three days a week in Paris for his clients. After five years of commuting and hotel stays, he calculated that buying a pied-a-terre would pay for itself in four years compared to the cumulative cost of hotel accommodation, between 15,000 euros and 18,000 euros per year.
His criteria: a functional studio in a central arrondissement, accessible from Gare Montparnasse (his arrival station from Bordeaux), in a quality building. The 6th arrondissement was the natural choice: close to Montparnasse, quiet in the evenings, pleasant neighbourhood life.
Olivier could not make himself available for repeated viewings in Paris. He needed an intermediary capable of managing the search from start to finish.
The search strategy
The Home Select property hunter structured the search around two axes: studios within the Notre-Dame-des-Champs / Vavin / Raspail perimeter (within a 10-minute walk of Gare Montparnasse), and access to off-market properties to expand options in a highly competitive segment.
In the 6th, quality studios rarely come up for sale: most owners keep them as assets or rent them as furnished accommodation. The property hunter contacted four notarial offices and six specialist agencies, specifying his client’s profile: a solvent buyer, with no loan contingency (cash purchase), ready to sign quickly.
Over six weeks, three properties were identified, two of which were off-market. The property hunter visited each one and produced a detailed 10-to-15-minute video report, sent to Olivier within the hour.
The property found
The selected property was a 28 sqm studio on the 3rd floor of an 1850 building on Rue Brea. The owner, an 85-year-old retiree who had moved to a care home a year earlier, wanted to sell discreetly through her notary.
The apartment consisted of an 18 sqm main room with an alcove suitable for a bed, a 4 sqm kitchenette and a 3 sqm shower room. The 3.20 m ceiling height and the street-facing window provided light and volume. The original parquet flooring was in acceptable condition.
The property required a full renovation: electrical and plumbing installations dating from the 1980s, faded paintwork. The renovation budget was estimated by the team at 25,000 euros for a standards upgrade and functional fit-out.
The well-maintained building had a concierge and common areas in good condition. Co-ownership charges came to 130 euros/month. No major works were planned. The energy performance rating of E was expected for a building of this era that had not been renovated.
The negotiation
Since the property was off-market, the property hunter estimated its value based on four recent transactions in the same area: studios of 25 to 32 sqm sold between 10,800 euros/sqm and 12,200 euros/sqm. Taking into account the condition of the property (25,000 euros in works) and the E energy rating, he placed the fair value at 11,600 euros/sqm after renovation, or approximately 325,000 euros before any discount.
The offer of 300,000 euros was submitted to the seller’s notary. After an exchange, the agreement was reached at 310,000 euros (11,071 euros/sqm). The price implicitly factored in the discount for the required works. Olivier accepted: once the 25,000 euros in renovation was completed, the total cost of 335,000 euros brought the effective price to 11,964 euros/sqm, in line with the neighbourhood average for a renovated property.
Olivier only travelled once, for the second viewing and the signing of the preliminary contract on the same day. The final deed was signed six weeks later.
What this mission illustrates
A Parisian pied-a-terre is a wealth-building decision as much as a practical one. Olivier saves 15,000 euros per year on hotels, while building a property portfolio in a high-appreciation arrondissement. The property can be rented as furnished accommodation during his weeks without travel, generating supplementary income.
Remote purchasing works when the property hunter acts as the client’s eyes. The property hunter visited, filmed, analysed and negotiated without Olivier needing to travel more than once. This approach, common at Home Select for clients based outside Paris or abroad, relies on factual and thorough reports.
Estates are a source of discounted properties in central arrondissements. The seller, in a care home, wanted a simple and fast transaction. This type of situation, common in the 5th and 6th, generates off-market properties with negotiation margins above the average.
Looking for a pied-a-terre in Paris? Contact our team to explore the possibilities.
Frequently asked questions
What budget should you plan for a pied-a-terre in the 6th arrondissement of Paris?
A studio of 20 to 35 sqm in the 6th arrondissement costs between 250,000 euros and 420,000 euros depending on location and condition. The Saint-Germain-des-Pres neighbourhood has the highest prices (12,000-15,000 euros/sqm), while the Notre-Dame-des-Champs area is slightly more affordable (10,500-12,500 euros/sqm).
Is a pied-a-terre in Paris a good investment?
A pied-a-terre in a central Paris arrondissement combines personal use and wealth building. The 6th arrondissement shows an average appreciation of 2.5% per year over 15 years. The property can be rented as furnished accommodation during periods of absence, generating supplementary income.
How can you buy a pied-a-terre in Paris when you live outside the city?
A property hunter manages the entire search remotely: viewings with video reports, analysis of co-ownership documents, negotiation and notarial follow-up. The buyer only needs to travel once or twice, for the second viewing and the signing of the preliminary contract.
