Finding the Right Paris Apartment
Searching for your own pied-a-terre in Paris? We'll help you find the very best apartment, navigate the purchase, and help you transform your dream into reality!
- Tip 1: Full or Shared Ownership in Paris
- Tip 2: Finding the Perfect Location to Buy in Paris
- Tip 3: Mortgage Broker And Currency Exchange Service
- Tip 4: Find The Absolute Best Apartment; Don’t Settle For Less
- Tip 5: Getting the Best Results from Paris Real Estate Agents
- Tip 6: Remodelling Costs in Paris
- Tip 7: If You’re Not 100% Certain...
- Tip 8: No MLS in France: The Value of a Good Search Agent
- Tip 9: How does the Purchase Process Work in France?
- Tip 10: Can I rent my Paris apartment short term?
Define What You Want And Don't Settle For Less
Be clear on the size of the apartment you’re looking for and your global budget. Window shop prices ahead of time, read classified announcements and, if necessary, make one appointment with a single agency to learn more about the market before you start meeting other agents.
An example: Maddy was waiting to meet an agent in an open-reception area and overheard a conversation between a real estate agent and a potential client. The woman was from the suburbs of Paris and was looking for a pied-à-terre as an investment. She kept changing her parameters in terms of her search: “Yes, it could be a one bedroom, maybe, probably not a studio, but possibly a two bedroom depending on the price … nice view, clean building, no remodeling, etc. You know, something nice, probably a view. We want to pay about €6,000/ square meter and call us when you have something. Maybe we could go higher for something fantastic. We can drive down on the weekend to have a look."
It was a waste of her time and the agent’s. I’m sure he never called her back. The average sale in that particular neighborhood was €12,000/ square meter; she was not able to visit an apartment to make a quick decision; and she wasn’t even clear on what she was looking for. Agents can’t waste their time educating the customer when they have a hot property for sale. They will call the sophisticated buyer who is able to make a quick decision.
If you need to get educated on prices, visit one agency and ask as many questions as possible about market prices. Assume they will view you as too new to the search to be a serious buyer, but use the information to set clear parameters on what you’re looking for at appropriate market prices. Then write clear and realistic parameters for your search.
Here are a the Most Important Factors to Consider and List:
- Modern or old building: old means Haussmanian and others from the late 1800’s/early 1900’s. Old or ancien have been the best investment by far
- Size in square meters. See below for approximate sizes
- Elevator or no — our advice is absolutely must have an elevator
- Lower floors okay or upper floors only
- Facing courtyard or outward views. Courtyard views are most common, but the least sought-after and slowest to sell
- Define your budget including remodeling and furnishing.
*Note transaction costs are 7.5% of purchase.
|Size Range (sqft)||Approximate Price (€)|
|Studios||15 - 30 m²||161 - 323 sq ft||€285,000 - €750,000|
|One Bedroom||30 - 50 m²||323 - 538 sq ft||€570,000 - €1,250,000|
|Two Bedrooms||50 - 80 m²||538 - 861 sq ft||€950,000 - €2,000,000|
|Three Bedrooms||80 - 120 m²||861 - 1,292 sq ft||€1,520,000 -|
Note that the approximate prices are calculated based on a price range of €19,000 per square meter to €25,000 per square meter. The price range is for prime apartments in the most desirable quartiers in Paris, based on actual sales. Actual prices may vary depending on the location, condition, and other factors of the specific apartment.
A unique fact is that a Paris apartment, if located in the best building, most sought after location, with prime features such as great views, upper floors, and elevator will command almost the same price whether it’s recently remodeled or has not been touched in 40 years.
Feel free to email us for more information about our search services and to receive our brochure on The Apartment Buying Process in France – in Simple English: Contact us at: [email protected]
Please read more about our tips here, including:
Tip 1: Full or Shared Ownership in Paris
Tip 2: Finding the Perfect Location to Buy in Paris
Tip 3: Mortgage Broker And Currency Exchange Service
Tip 4: Find The Absolute Best Apartment; Don’t Settle For Less
Tip 5: Getting the Best Results from Paris Real Estate Agents
Tip 6: Remodelling Costs in Paris
Tip 7: If You’re Not 100% Certain...
Tip 8: No MLS in France: The Value of a Good Search Agent
Tip 9: How does the Purchase Process Work in France?
Tip 10: Can I rent my Paris apartment short term?