Should you buy a property to renovate in Paris? What you really need to know

But in reality, renovating a property in Paris is no small undertaking. Between the technical constraints of older buildings, strict condominium rules, rising labor costs, and sometimes discouraging delays, the dream can quickly become a source of stress... or even unexpected additional costs.

So, is it still a good idea to buy a property to renovate in Paris in 2025? What are the real opportunities, the points to watch out for, and the conditions for success? This article takes stock to help you move forward with full knowledge of the facts.

Why properties in need of renovation are still so appealing

In a Parisian real estate market where quality supply is limited, apartments in need of renovation remain highly attractive. Cheaper to buy and often located in beautiful old buildings, they give the impression of being a good deal—provided you have a keen eye.

The first argument is price. A property in need of renovation is generally priced 10 to 15% below the price of an equivalent property that has already been renovated, depending on its condition, location, and the complexity of the work required. This allows you to access a sought-after neighborhood or a more generous layout (three rooms instead of two, higher floor, etc.) with the same budget.

The second advantage is freedom. Buying a property to renovate allows you to completely rethink the layout and choose your own materials, fixtures, and ambiance. It's a tailor-made project, often very rewarding for buyers who want a place that reflects their personality.

Finally, there is a real asset value at stake. A well-renovated property in a good neighborhood generally sells faster and for more than an average, standardized property. The quality of the work carried out (and its consistency with the location) can create real added value in the long term.

Limitations and risks specific to Paris

Renovating a property in Paris is no small undertaking. Beneath its attractive exterior, an apartment in need of renovation can hide significant technical, legal, or financial constraints that must be anticipated.

Older condominiums, typical of Parisian buildings, may not be very suitable for renovation. Roofs, risers, facades, elevators, stairwells: these are all shared elements that can generate significant costs, especially if nothing has been done for ten or twenty years. It is therefore essential to read the minutes of general meetings carefully and to ask questions about the overall condition of the building.

There are many technical constraints in older buildings: load-bearing walls, high but uninsulated ceilings, lack of ventilation, obsolete networks, outdated electrical standards... and the frequent impossibility of modifying certain structures. A simple project to open up a kitchen or move a bathroom can become technically or legally unfeasible.

When it comes to the budget, surprises are common. Once the walls are opened up, you may discover that the floors need to be redone, the systems are in poor condition, or the materials are non-compliant. And in Paris, where labor is expensive and in high demand, every unexpected expense can quickly add up.

Deadlines are also often underestimated. Obtaining quotes, coordinating tradespeople, meeting material delivery deadlines, and avoiding slow periods (August, the end of the year, school holidays) requires real organization. A project announced to take three months can easily slip to six months... or more.

It is therefore best to approach this type of property with a clear head and rely on reliable partners to avoid false bargains.

{{cta-vert-en="/../style-guide"}}

Accurately estimate the overall cost of the project

When buying a property to renovate, it is not enough to rely on the price listed in the ad. What really matters is the overall cost of the project: purchase, work, ancillary costs, and unforeseen expenses. Only then can you objectively compare this type of property to an apartment that has already been renovated.

The basic calculation should include:

• the purchase price of the property;
• notary fees (approximately 7-8% for older properties);
• the cost of renovation work;
• architect or project manager fees, if necessary;
• the cost of furniture, storage, or relocation, if applicable;
• condominium fees, which can sometimes be high in older buildings.

When it comes to renovation work, the price ranges are wide. In 2025, in Paris, we can estimate:

• between €800 and €1,200/m² for a minor renovation;
• between €1,500 and €2,000/m² for a complete renovation;
• over €2,500/m² for a major restructuring.

Case study:

A 70 m² property listed at $10,000/m² to renovate (i.e., $700,000) + $100,000 in renovation costs + $56,000 in notary fees = $856,000 total cost.

An equivalent property that has already been renovated in the same building can sell for €880,000 to €900,000. The margin is therefore small and only justifies the transaction if the property has real potential for optimization.

The classic mistake: underestimating the investment required or overestimating the potential added value. A property in need of renovation can be profitable, but this is not automatic. You need a rational, costed approach that is, above all, tailored to your project.

‍

How to make a successful purchase in need of renovation: the keys

A purchase in need of renovation can be a wise move, provided you are rigorous from the outset. To transform raw potential into a real quality project, you need to anticipate, check, and surround yourself with the right people.

First rule: don't trust appearances. A beautiful space at an attractive price can hide structural defects, high costs, or constraints that are impossible to get around. It is essential to read the technical reports in detail (asbestos, lead, electricity, energy performance) and understand the general condition of the building.

Step two: get a quote for the work as soon as possible. A good contractor or architect can provide an estimate even before you make an offer to purchase. This allows you to confirm the technical and financial feasibility of the project, anticipate the necessary permits, and sometimes negotiate the price accordingly.

Third point: evaluate the condominium. Carefully review the minutes of general meetings, calls for charges, and upcoming work. A well-managed condominium, even an older one, is a real guarantee of stability.

Finally, the choice of property is essential. Not all apartments are worth renovating. You need to identify those with real potential: good exposure, interesting volumes, and a promising address. For this, the eye of an experienced apartment hunter is a real asset.

{{cta-bordeaux-en="/../style-guide"}}

Conclusion

Buying a property to renovate in Paris can be an excellent strategy... or a costly mistake. It all depends on the project, the property, and above all, how it is prepared. Yes, it is possible to create a unique, valuable, and marketable living space. But this requires a clear-headed, structured approach with the right support.

In Paris, good deals still exist, but they have to be earned. You have to spot them, calculate their value, manage them, and know when to say no when the risks outweigh the potential gains.

At Parlez-moi de Paris, we regularly help our clients identify truly interesting projects, validate their potential with trusted professionals, and move forward with confidence at every stage. So that renovation becomes an opportunity... and not an uncertain adventure.