Paris: apartments auctioned from 15,000 euros in chic neighborhoods

An apartment, located on rue Boileau in the 16th arrondissement, costs 15,000 euros
An apartment, located on rue Boileau in the 16th arrondissement, costs 15,000 euros (©Google Street View)

The real estate prices in Paris it could be something down, they are still very high compared to other major cities in France. However, real estate auctions by the court may make it possible to good offers with very low starting prices, sometimes even in chic areas of the capital.

The public auctions of the Court of Justice of Paris follow a seizure of real estate, a judicial liquidation or an official report (joint ownership).

An apartment with a price of 15,000 euros in the 16th arrondissement

An apartment of 21 m² is located on October 20, 2022 96 rue Boileau in the 16th arrondissement, consisting of an entrance, a kitchen, a living room, a bathroom and toilets, is therefore sold with a starting price of 15,000 euros. In this district, an average of 11,618 euros is negotiated over the m².

The same day, 104 . rue Michel-Ange (16th), an apartment of almost 100 m², with entrance hall, living room opening onto a balcony, kitchen, wc, bedroom facing the street, bathroom, dressing room, children’s room with adjoining shower room, a playpen and a cellar, will be priced at 211,000 euros.

42 rue Pastourelle in the 3rd arrondissement, a 49 m² apartment with basement is offered to buyers for 70,000 euros. At the same address, another accommodation of 25 m² costs 120,000 euros. In the 3rd arrondissement, the average price per m² is 13,379 euros.

How to participate in public auctions?

Public auctions take place at the Court.

Above all, it is highly recommended to visit the property. The visits are carried out by a bailiff, on a predetermined date and time. It is not necessary to make an appointment. If you are interested in acquiring real estate that has been sold at auction, you should contact a lawyer registered at the Paris Bar.

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It is he who will speak on your behalf on the day of the hearing. The lawyer will advise you, guide you in your project and provide you with all useful information about the consistency of the goods, the progress of the sale, the amount of the expected costs and the consequences of your takeover.

The lawyer you contact will ask you for several documents.

The abdominal interrogation takes place at the counter of the Court, under the supervision of the bailiff. The amount of the minimum bid is generally determined by the court or the terms of sale.

The time limit within which lawyers must make an offer is 90 seconds. This period is counted down using a timer, which is reset to zero with each new bid. If no bid is made at the end of the 90 seconds, the last lawyer to speak wins the sale.

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