Currently, having a balcony or terrace in the middle of the city constitutes a real luxury. How does this outdoor space increase apartment prices?
To answer this question, the leader of real estate valuation, Meilleurs Agents, tells us about the impact of the presence of a balcony or a terrace on the price of the apartments in major French cities.
In the 11 largest cities in France, a balcony or terrace is to go up the price of the apartments +8.8% on average. This price can also climb according to the floor of the apartment, with an increase of 12.5% on the ground floor and 14.1% on the top floor.
Despite this constant increase, it is possible to find differences in price between the cities. In fact, a terrace in Marseille is twice as expensive as in the capital, with +15.9% in Marseille and +8.4% in Paris. Taking the city of Lille as an example, the presence of a terrace has little impact on the price of accommodation, with only +3.6%.
A balcony or terrace does not have the same price depending on its surface area or the floor where it is located.
Apart from the geographical location, it is possible to cite two conditions in order to measure the impact of an exterior, namely the size of the terrace or balcony, as well as the floor of the apartment.
From a logical point of view, the more surface of the outdoor space is big, the more the price is pupil, up to +30% for spaces larger than 50 m². However, terraces and balconies of less than 10 m² have little effect on the price. price of property, with +4.4% only.
The floor is also a determinant in the fixation of the price of the apartments with balcony or terrace. Presumably, an outdoor space at ground floor level increases the price of the good of 12.5%, because in most cases, it is a garden level. However, a terrace has less of value if it belongs to a lower floor, that is to say, from 1st at 3e floor. Indeed, it can face an imposing building or overlook a busy and noisy street. It is also good to know that the price of a terrace or a balcony is almost twice more raised to the top floor, than in the other floors, with +14.1%. Moreover, the fact of having a balcony or a terrace on the top floor is often synonymous with tranquility, luxury and visual comfort.
