Purchase studio 29 m² Paris 16 - €399,000, Energy performance certificate not provided

The listed price for this 29 m² studio is €399,000, which corresponds to a price per m² of €13,759 (calculated from the listed price and the declared area).

In the 16th arrondissement of Paris, the average price per m² for a studio is around €12,000 to €15,000 according to the DVF (Données de Valeur Foncière) data from 2022. This property is therefore positioned above the market median.

Over the last 12 months, apartment prices in the 16th arrondissement have seen an increase of about 5%, according to trends in the Paris real estate market.

Property positioning:

• Advantages: Chic neighborhood, proximity to transport (6 minutes walk from Charles de Gaulle Étoile metro), potential for appreciation.
• Disadvantages: Requires a complete renovation, which can represent a significant additional cost.

For a purchase at €399,000, notary fees for an older property are estimated between 7% and 8%. This represents approximately €27,930 to €31,920 (estimate based on current professional scales).

Total Acquisition :

• Purchase Price : €399,000
• Notary Fees : €27,930 to €31,920
• Estimated Total : €426,930 to €430,920

Loan Simulation :

• Amount Borrowed : €359,100 (90% of the purchase price)
• Interest Rate : 3.4% over 20 years
• Estimated Monthly Payment : approximately €1,800 (calculation based on current rates and loan duration).

Rental Yield :

• Estimated rent for a studio in this area : €1,200 per month.
• Gross rental yield : 3.6% (calculated on the purchase price).
• Net rental yield : approximately 2.8% after charges and taxes.

The DPE (Energy Performance Diagnosis) is not provided for this property. However, in the 16th arrondissement, the average DPE class is often ranked between C and D.

Estimated annual energy cost:

• In the absence of a DPE, an estimated annual energy cost can be between €800 and €1,200 (estimate based on average public sector data).

Renovation:

• To improve the DPE class from D to C, renovation work may be necessary, with an estimated cost between €10,000 and €20,000 (indicative range based on current professional scales).

Available aids:

• MaPrimeRénov' can be mobilized for energy renovation work, with amounts varying according to the work carried out.

The studio is located 6 minutes on foot from the Charles de Gaulle Étoile metro station, which serves lines 1, 2, and 6, as well as the RER A. This allows for quick access to the main points of interest in Paris.

Nearby Amenities:

• Shops: Supermarkets, bakeries, and restaurants within a 500-meter radius.
• Schools: Several reputable educational institutions in the area.

Demographics:

• The 16th arrondissement is one of the wealthiest in Paris, with a median household income of around €50,000 per year.

Quality of Life:

• Safe and residential neighborhood, with many green spaces.
• Upcoming urban projects: Improvement of transport infrastructure and public spaces.

The 16th arrondissement is minimally exposed to major natural risks, although some areas may be prone to flooding.

PLU and Zoning:

• The Local Urban Planning (PLU) of Paris imposes strict rules regarding renovations and constructions. It is advisable to consult the PLU before undertaking any work.

Mandatory Diagnostics:

• Energy performance diagnostics (DPE), lead, asbestos, and termite inspections are mandatory when selling.

Rent Control:

• As a rental property, it is important to check the current rent ceilings in the area, which may vary depending on the type of property and its location.

When comparing this studio with other 29 m² studios in the 16th arrondissement, the price of €399,000 is higher than the market median, which is around €370,000 for similar properties.

Factors for Overpricing:

• Location in the Golden Triangle, a highly sought-after neighborhood.
• Potential for appreciation after renovation.

Estimated Negotiation Margin:

• Due to the high demand in the area, the negotiation margin may be limited, estimated at around 5% depending on competing offers.