Home Select helped a Bordeaux-based entrepreneur buy a Parisian pied-à-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. Conducted entirely remotely, the search 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 worked out that buying a pied-à-terre would pay for itself in four years against the running cost of hotels, between 15,000 euros and 18,000 euros a year.
He wanted a functional studio in a central arrondissement, reachable from Gare Montparnasse, his arrival station from Bordeaux, in a good building. The 6th arrondissement was the natural choice: close to Montparnasse, quiet in the evenings, with pleasant street life.
Olivier could not free himself for repeated viewings in Paris. He needed an intermediary who could run the search from start to finish.
The search strategy
The Home Select property hunter built the search around two lines: studios within the Notre-Dame-des-Champs, Vavin and Raspail perimeter, a 10-minute walk from Gare Montparnasse, and access to off-market properties to widen the options in a fiercely competitive segment.
In the 6th, good studios rarely come up for sale: most owners hold them as assets or let them furnished. The property hunter contacted four notarial offices and six specialist agencies, setting out his client’s profile: a solvent buyer, no loan contingency, a cash purchase, ready to sign quickly.
Over six weeks, three properties were identified, two of them off-market. The property hunter viewed each one and produced a detailed 10-to-15-minute video report, sent to Olivier within the hour.
The property found
The chosen property was a 28 sqm studio on the 3rd floor of an 1850 building on rue Bréa. The owner, an 85-year-old who had moved to a care home a year earlier, wanted to sell discreetly through her notary.
The flat had an 18 sqm main room with an alcove for a bed, a 4 sqm kitchenette and a 3 sqm shower room. The 3.20 m ceiling and the street-facing window gave it light and volume. The original parquet was in acceptable condition.
The property needed a full renovation: electrical and plumbing installations dating from the 1980s and faded paintwork. The team put the renovation budget at 25,000 euros for a standards upgrade and a functional fit-out.
The well-kept building had a concierge and common areas in good condition. Co-ownership charges came to 130 euros/month, with no major works planned. The E energy rating was to be expected for a building of this era that had not been renovated.
The negotiation
As the property was off-market, the property hunter set its value from four recent transactions in the same area: studios of 25 to 32 sqm sold between 10,800 euros/sqm and 12,200 euros/sqm. Allowing for the condition of the property, 25,000 euros in works, and the E energy rating, he put the fair value at 11,600 euros/sqm after renovation, or about 325,000 euros before any discount.
The offer of 300,000 euros went to the seller’s notary. After an exchange, agreement came at 310,000 euros (11,071 euros/sqm), the price quietly factoring in the discount for the works. Olivier accepted: once the 25,000 euros of renovation was done, 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 travelled only 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-à-terre is a wealth-building decision as much as a practical one. Olivier saves 15,000 euros a year on hotels while building a property portfolio in a high-appreciation arrondissement. The property can be let furnished during his weeks away, generating extra income.
Remote purchasing works when the property hunter acts as the client’s eyes. The property hunter viewed, filmed, analysed and negotiated without Olivier having to travel more than once. This approach, common at Home Select for clients based outside Paris or abroad, relies on factual, thorough reports.
Estate sales are a source of discounted properties in central arrondissements. The seller, in a care home, wanted a simple, fast transaction. Such situations, common in the 5th and 6th, throw up off-market properties with negotiation margins above the average.
Looking for a pied-à-terre in Paris? Contact our team to explore the possibilities.
Frequently asked questions
What budget should you plan for a pied-à-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. Saint-Germain-des-Prés has the highest prices, 12,000-15,000 euros/sqm, while the Notre-Dame-des-Champs area is slightly more affordable at 10,500-12,500 euros/sqm.
Is a pied-à-terre in Paris a good investment?
A pied-à-terre in a central Paris arrondissement combines personal use with wealth building. The 6th arrondissement shows an average appreciation of 2.5% per year over 15 years. The property can be let as furnished accommodation during absences, generating extra income.
How can you buy a pied-à-terre in Paris when you live outside the city?
A property hunter runs the whole search remotely: viewings with video reports, analysis of co-ownership documents, negotiation and notarial follow-up. The buyer needs to travel only once or twice, for the second viewing and the signing of the preliminary contract.
How much was negotiated on this off-market studio in the 6th?
On this mission the Home Select property hunter bought a 28 sqm studio on rue Bréa for 310,000 euros against an estimate of 325,000 euros, a 4.6% discount, at 11,071 euros per sqm. The off-market property, sourced through the notary of a seller who had moved to a care home, needed 25,000 euros of works: once renovated, the total cost of 335,000 euros (11,964 euros per sqm) stayed in line with the neighbourhood average. The search, run remotely for a Bordeaux buyer, took 7 weeks, with the buyer travelling only once.
